New York Life Investment Management LLC Has $3.33 Million Stock Position in DTE Energy (NYSE:DTE)

New York Life Investment Management LLC grew its position in DTE Energy (NYSE:DTE) by 0.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 27,571 shares of the utilities provider’s stock after buying an additional 217 shares during the period. New York Life Investment Management LLC’s holdings in DTE Energy were worth $3,329,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp increased its stake in shares of DTE Energy by 7.0% in the 3rd quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock valued at $1,319,264,000 after buying an additional 662,569 shares during the period. Mizuho Securities USA LLC increased its stake in shares of DTE Energy by 44,009.5% in the 3rd quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock valued at $903,878,000 after buying an additional 7,023,042 shares during the period. Janus Henderson Group PLC increased its stake in shares of DTE Energy by 2.4% in the 3rd quarter. Janus Henderson Group PLC now owns 2,720,265 shares of the utilities provider’s stock valued at $349,309,000 after buying an additional 64,880 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of DTE Energy by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,274,837 shares of the utilities provider’s stock valued at $163,702,000 after buying an additional 14,937 shares during the period. Finally, Duff & Phelps Investment Management Co. increased its stake in shares of DTE Energy by 3.5% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 907,345 shares of the utilities provider’s stock valued at $116,512,000 after buying an additional 30,909 shares during the period. 76.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Joann Chavez sold 7,062 shares of the business’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 sale, the senior vice president now directly owns 14,067 shares in the company, valued at $1,862,470.80. The trade was a 33.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Matthew T. Paul sold 3,801 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total value of $492,457.56. Following the completion of the sale, the chief operating officer now owns 6,951 shares in the company, valued at approximately $900,571.56. This trade represents a 35.35 % 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 worth $1,559,205 over the last three months. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Barclays cut DTE Energy from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $137.00 to $135.00 in a research note on Thursday, February 20th. Guggenheim raised DTE Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Morgan Stanley decreased their price objective on DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. KeyCorp cut DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Finally, StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $135.67.

DTE Energy Stock Performance

DTE stock opened at $133.76 on Friday. The business’s 50-day moving average price is $123.47 and its two-hundred day moving average price is $123.82. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77. The firm has a market cap of $27.72 billion, a PE ratio of 19.76, a P/E/G ratio of 2.41 and a beta of 0.68. DTE Energy has a 1-year low of $103.06 and a 1-year high of $134.11.

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

DTE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a $1.09 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.26%. DTE Energy’s dividend payout ratio (DPR) is 64.40%.

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.