Beacon Pointe Advisors LLC Sells 477 Shares of DTE Energy (NYSE:DTE)

Beacon Pointe Advisors LLC lowered its stake in shares of DTE Energy (NYSE:DTEFree Report) by 6.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,301 shares of the utilities provider’s stock after selling 477 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in DTE Energy were worth $805,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Ameriprise Financial Inc. increased its holdings in DTE Energy by 16.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,130,348 shares of the utilities provider’s stock worth $509,081,000 after buying an additional 724,561 shares during the period. Boston Partners raised its stake in DTE Energy by 66.8% in the 4th quarter. Boston Partners now owns 2,542,081 shares of the utilities provider’s stock valued at $280,247,000 after purchasing an additional 1,018,212 shares during the last quarter. Invesco Ltd. raised its stake in DTE Energy by 6.6% in the 3rd quarter. Invesco Ltd. now owns 2,229,189 shares of the utilities provider’s stock valued at $221,314,000 after purchasing an additional 137,960 shares during the last quarter. Northern Trust Corp raised its stake in DTE Energy by 1.5% in the 3rd quarter. Northern Trust Corp now owns 1,923,222 shares of the utilities provider’s stock valued at $190,937,000 after purchasing an additional 27,891 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of DTE Energy by 2.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,682,067 shares of the utilities provider’s stock worth $185,465,000 after acquiring an additional 40,208 shares during the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DTE. JPMorgan Chase & Co. raised their target price on DTE Energy from $118.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 13th. BMO Capital Markets raised their target price on DTE Energy from $111.00 to $113.00 and gave the company a “market perform” rating in a report on Wednesday, April 17th. TheStreet upgraded DTE Energy from a “c+” rating to a “b-” rating in a research note on Friday, March 15th. KeyCorp lifted their price objective on DTE Energy from $117.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Barclays lifted their price objective on DTE Energy from $115.00 to $119.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $116.30.

View Our Latest Stock Report on DTE Energy

DTE Energy Price Performance

DTE stock opened at $115.06 on Thursday. The stock has a market cap of $23.81 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 2.90 and a beta of 0.64. DTE Energy has a fifty-two week low of $90.14 and a fifty-two week high of $117.44. The business has a 50 day moving average price of $110.90 and a 200 day moving average price of $108.33. The company has a quick ratio of 0.54, a current ratio of 0.75 and a debt-to-equity ratio of 1.72.

DTE Energy (NYSE:DTEGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The utilities provider reported $1.67 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.04). The firm had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.81 billion. DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. Equities research analysts anticipate that DTE Energy will post 6.7 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 3.55%. The ex-dividend date is Monday, June 17th. DTE Energy’s dividend payout ratio (DPR) is presently 66.78%.

Insider Transactions at DTE Energy

In other news, COO Robert A. Richard sold 4,800 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $107.25, for a total transaction of $514,800.00. Following the completion of the sale, the chief operating officer now owns 26,118 shares in the company, valued at $2,801,155.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other DTE Energy news, COO Mark W. Stiers sold 10,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $116.00, for a total value of $1,160,000.00. Following the completion of the transaction, the chief operating officer now owns 41,921 shares in the company, valued at $4,862,836. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Robert A. Richard sold 4,800 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $107.25, for a total value of $514,800.00. Following the completion of the transaction, the chief operating officer now owns 26,118 shares of the company’s stock, valued at approximately $2,801,155.50. The disclosure for this sale can be found here. Company insiders own 0.28% of the company’s stock.

About DTE Energy

(Free Report)

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.

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Institutional Ownership by Quarter for DTE Energy (NYSE:DTE)

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