Focus Partners Wealth Increases Stake in DTE Energy (NYSE:DTE)

Focus Partners Wealth lifted its stake in shares of DTE Energy (NYSE:DTE) by 13.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 175,530 shares of the utilities provider’s stock after acquiring an additional 20,791 shares during the period. Focus Partners Wealth’s holdings in DTE Energy were worth $21,212,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Allworth Financial LP raised its holdings in shares of DTE Energy by 16.0% during the 4th quarter. Allworth Financial LP now owns 2,438 shares of the utilities provider’s stock worth $293,000 after acquiring an additional 336 shares during the period. Jones Financial Companies Lllp grew its position in DTE Energy by 72.3% in the 4th quarter. Jones Financial Companies Lllp now owns 6,295 shares of the utilities provider’s stock valued at $760,000 after acquiring an additional 2,642 shares in the last quarter. Orion Portfolio Solutions LLC grew its position in DTE Energy by 39.2% in the 4th quarter. Orion Portfolio Solutions LLC now owns 5,742 shares of the utilities provider’s stock valued at $693,000 after acquiring an additional 1,618 shares in the last quarter. Patton Albertson Miller Group LLC grew its position in DTE Energy by 7.6% in the 4th quarter. Patton Albertson Miller Group LLC now owns 46,931 shares of the utilities provider’s stock valued at $5,667,000 after acquiring an additional 3,306 shares in the last quarter. Finally, M&T Bank Corp grew its position in DTE Energy by 4.4% in the 4th quarter. M&T Bank Corp now owns 9,432 shares of the utilities provider’s stock valued at $1,139,000 after acquiring an additional 395 shares in the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Wall Street Analyst Weigh In

DTE has been the subject of several research reports. BMO Capital Markets lifted their target price on DTE Energy from $135.00 to $142.00 and gave the company a “market perform” rating in a research report on Monday, April 21st. Morgan Stanley boosted their price objective on DTE Energy from $131.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. Guggenheim boosted their price objective on DTE Energy from $139.00 to $147.00 and gave the stock a “buy” rating in a research report on Friday, March 21st. Evercore ISI boosted their price objective on DTE Energy from $136.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Finally, StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, DTE Energy has a consensus rating of “Moderate Buy” and an average target price of $140.31.

DTE Energy Trading Up 0.2%

Shares of DTE stock opened at $135.98 on Monday. The business’s fifty day moving average price is $134.22 and its 200 day moving average price is $126.97. DTE Energy has a 1-year low of $108.40 and a 1-year high of $140.39. The firm has a market capitalization of $28.22 billion, a PE ratio of 20.09, a P/E/G ratio of 2.41 and a beta of 0.47. 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 announced its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.12. The firm had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.33 billion. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. During the same quarter in the prior year, the company posted $1.67 earnings per share. As a group, sell-side analysts forecast that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be issued a $1.09 dividend. This represents a $4.36 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Monday, June 16th. DTE Energy’s dividend payout ratio (DPR) is presently 58.92%.

Insider Activity at DTE Energy

In related news, COO Matthew T. Paul sold 3,801 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $129.56, for a total transaction of $492,457.56. Following the transaction, the chief operating officer now directly owns 6,951 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, SVP Joann Chavez sold 7,062 shares of the 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 owns 14,067 shares in the company, valued at $1,862,470.80. This trade represents a 33.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,877 shares of company stock valued at $1,559,205 over the last quarter. Insiders own 0.33% of the company’s stock.

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.