Capital Research Global Investors Reduces Holdings in DTE Energy (NYSE:DTE)

Capital Research Global Investors lowered its stake in DTE Energy (NYSE:DTE) by 6.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 18,869,428 shares of the utilities provider’s stock after selling 1,320,035 shares during the period. Capital Research Global Investors owned approximately 0.09% of DTE Energy worth $2,278,483,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. SkyOak Wealth LLC lifted its stake in shares of DTE Energy by 4.1% during the fourth quarter. SkyOak Wealth LLC now owns 2,174 shares of the utilities provider’s stock valued at $262,000 after buying an additional 85 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of DTE Energy by 8.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,205 shares of the utilities provider’s stock worth $146,000 after purchasing an additional 90 shares during the period. Stratos Wealth Partners LTD. boosted its holdings in shares of DTE Energy by 4.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 2,139 shares of the utilities provider’s stock worth $258,000 after purchasing an additional 92 shares during the last quarter. Tidal Investments LLC grew its position in shares of DTE Energy by 4.0% in the third quarter. Tidal Investments LLC now owns 2,490 shares of the utilities provider’s stock valued at $320,000 after purchasing an additional 96 shares during the period. Finally, Bleakley Financial Group LLC increased its stake in DTE Energy by 2.3% in the fourth quarter. Bleakley Financial Group LLC now owns 4,345 shares of the utilities provider’s stock valued at $525,000 after purchasing an additional 96 shares during the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on DTE. Guggenheim raised their target price on shares of DTE Energy from $139.00 to $147.00 and gave the stock a “buy” rating in a research report on Friday, March 21st. Barclays cut shares of DTE Energy from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $137.00 to $135.00 in a research note on Thursday, February 20th. BMO Capital Markets upped their price objective on DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. Morgan Stanley lifted their target price on DTE Energy from $131.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Finally, StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $138.58.

DTE Energy Stock Performance

DTE stock opened at $133.33 on Friday. The company has a 50-day simple moving average of $132.66 and a 200 day simple moving average of $126.04. The company has a market capitalization of $27.67 billion, a P/E ratio of 19.69, a PEG ratio of 2.41 and a beta of 0.49. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. DTE Energy has a fifty-two week low of $106.80 and a fifty-two week high of $140.39.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. Sell-side analysts predict that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 17th were issued a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend was Monday, March 17th. DTE Energy’s payout ratio is 64.40%.

Insiders Place Their Bets

In related news, SVP Joann Chavez sold 7,062 shares of DTE Energy stock in a transaction on Monday, February 24th. The stock was sold at an average price of $132.40, for a total value of $935,008.80. Following the transaction, the senior vice president now directly owns 14,067 shares in the company, valued at $1,862,470.80. The trade was a 33.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Matthew T. Paul sold 3,801 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total value of $492,457.56. Following the sale, the chief operating officer now directly owns 6,951 shares of the company’s stock, valued at approximately $900,571.56. This represents a 35.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,877 shares of company stock worth $1,559,205. 0.33% of the stock is owned by insiders.

About DTE Energy

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.