Evergreen Wealth Solutions LLC Sells 891 Shares of DTE Energy (NYSE:DTE)

Evergreen Wealth Solutions LLC trimmed its position in DTE Energy (NYSE:DTE) by 12.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,555 shares of the utilities provider’s stock after selling 891 shares during the period. Evergreen Wealth Solutions LLC’s holdings in DTE Energy were worth $791,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of DTE. Vanguard Group Inc. lifted its stake in DTE Energy by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 25,286,380 shares of the utilities provider’s stock worth $3,053,330,000 after purchasing an additional 879,670 shares in the last quarter. Capital World Investors raised its position in shares of DTE Energy by 123.2% in the fourth quarter. Capital World Investors now owns 6,823,231 shares of the utilities provider’s stock worth $823,905,000 after buying an additional 3,766,221 shares in the last quarter. Geode Capital Management LLC boosted its stake in DTE Energy by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 4,920,971 shares of the utilities provider’s stock valued at $592,642,000 after buying an additional 115,270 shares during the period. Boston Partners grew its position in DTE Energy by 25.1% during the fourth quarter. Boston Partners now owns 2,899,823 shares of the utilities provider’s stock worth $350,150,000 after buying an additional 582,643 shares in the last quarter. Finally, Invesco Ltd. increased its stake in DTE Energy by 50.2% in the 4th quarter. Invesco Ltd. now owns 2,462,592 shares of the utilities provider’s stock worth $297,358,000 after acquiring an additional 822,854 shares during the last quarter. 76.06% of the stock is currently owned by institutional investors.

DTE Energy Stock Performance

NYSE:DTE opened at $136.91 on Wednesday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71. DTE Energy has a fifty-two week low of $108.40 and a fifty-two week high of $140.39. The firm has a market cap of $28.41 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 2.41 and a beta of 0.49. The business has a 50 day moving average price of $133.60 and a 200-day moving average price of $126.51.

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

DTE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 17th were paid a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend was Monday, March 17th. DTE Energy’s payout ratio is 64.40%.

Analyst Upgrades and Downgrades

DTE has been the subject of a number of research analyst reports. Guggenheim lifted their price target on DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a research report on Friday, March 21st. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Morgan Stanley boosted 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. 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 report on Thursday, February 20th. Finally, BMO Capital Markets upped their target price on shares of DTE Energy from $135.00 to $142.00 and gave the stock a “market perform” rating in a research report on Monday, April 21st. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $139.17.

Insider Activity at DTE Energy

In related news, COO Matthew T. Paul sold 3,801 shares of the company’s 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 sale, the chief operating officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Tracy J. Myrick sold 1,014 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total value of $131,738.88. Following the transaction, the chief accounting officer now directly owns 3,437 shares of the company’s stock, valued at $446,535.04. This represents a 22.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,877 shares of company stock worth $1,559,205 over the last quarter. Corporate insiders own 0.33% of the company’s stock.

DTE Energy 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.