Arvest Bank Trust Division Cuts Position in DTE Energy (NYSE:DTE)

Arvest Bank Trust Division reduced its stake in shares of DTE Energy (NYSE:DTE) by 1.6% in the fourth quarter, HoldingsChannel reports. The firm owned 79,237 shares of the utilities provider’s stock after selling 1,270 shares during the period. Arvest Bank Trust Division’s holdings in DTE Energy were worth $9,568,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC lifted its position in DTE Energy by 11.9% during the third quarter. Barclays PLC now owns 755,084 shares of the utilities provider’s stock valued at $96,961,000 after acquiring an additional 80,543 shares during the last quarter. World Investment Advisors LLC purchased a new stake in DTE Energy during the 3rd quarter worth approximately $269,000. Wilmington Savings Fund Society FSB acquired a new position in shares of DTE Energy in the 3rd quarter valued at $155,000. Tidal Investments LLC boosted its position in 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 buying an additional 96 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in DTE Energy by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 261,357 shares of the utilities provider’s stock worth $33,561,000 after purchasing an additional 13,953 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Down 0.5 %

Shares of NYSE:DTE opened at $132.27 on Thursday. The business has a fifty day moving average of $132.29 and a two-hundred day moving average of $125.97. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. The stock has a market cap of $27.45 billion, a P/E ratio of 19.54, a PEG ratio of 2.41 and a beta of 0.49. DTE Energy has a 52-week low of $103.33 and a 52-week high of $140.39.

DTE Energy (NYSE:DTE) last released its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 EPS for the quarter, beating 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%. On average, research analysts expect that DTE Energy will post 7.18 earnings per share for the current 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 paid a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 3.30%. The ex-dividend date was Monday, March 17th. DTE Energy’s payout ratio is currently 64.40%.

Insider Transactions at DTE Energy

In related news, COO Matthew T. Paul sold 3,801 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $129.56, for a total value of $492,457.56. Following the transaction, the chief operating officer now owns 6,951 shares of the company’s stock, valued at $900,571.56. This represents a 35.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Joann Chavez sold 7,062 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,862,470.80. This represents a 33.42 % 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 valued at $1,559,205. 0.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

DTE Energy Company Profile

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.