DTE Energy (NYSE:DTE) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC cut its stake in shares of DTE Energy (NYSE:DTE) by 7.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,930,734 shares of the utilities provider’s stock after selling 158,137 shares during the period. Clearbridge Investments LLC’s holdings in DTE Energy were worth $233,136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DTE. Legacy Investment Solutions LLC acquired a new stake in shares of DTE Energy in the 3rd quarter worth $30,000. Versant Capital Management Inc increased its stake in shares of DTE Energy by 890.0% during the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 267 shares during the period. Robbins Farley purchased a new position in DTE Energy during the fourth quarter worth about $57,000. Kestra Investment Management LLC acquired a new stake in DTE Energy in the fourth quarter valued at about $57,000. Finally, AdvisorNet Financial Inc boosted its holdings in DTE Energy by 81.5% in the 4th quarter. AdvisorNet Financial Inc now owns 697 shares of the utilities provider’s stock valued at $84,000 after purchasing an additional 313 shares in the last quarter. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

DTE Energy Stock Up 0.9 %

Shares of NYSE DTE opened at $136.47 on Monday. The firm’s 50-day moving average is $128.84 and its two-hundred day moving average is $125.26. The company has a market capitalization of $28.32 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59. DTE Energy has a 12-month low of $103.06 and a 12-month high of $138.22. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46.

DTE Energy (NYSE:DTE) last posted its earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (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%. Equities analysts anticipate that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be given a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date is Monday, March 17th. DTE Energy’s dividend payout ratio is presently 64.40%.

Insider Buying and Selling

In other DTE Energy news, CAO Tracy J. Myrick sold 1,014 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total transaction of $131,738.88. Following the transaction, the chief accounting officer now owns 3,437 shares of the company’s stock, valued at $446,535.04. This represents a 22.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Joann Chavez sold 7,062 shares of DTE Energy stock in a transaction on Monday, February 24th. The shares were sold at an average price of $132.40, for a total value of $935,008.80. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,877 shares of company stock worth $1,559,205. 0.33% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on DTE shares. BMO Capital Markets increased their target price on DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Barclays downgraded DTE Energy from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $137.00 to $135.00 in a report on Thursday, February 20th. Morgan Stanley upped their price target on shares of DTE Energy from $131.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Finally, KeyCorp cut shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.58.

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.