Prosperity Consulting Group LLC Acquires 225 Shares of DTE Energy (NYSE:DTE)

Prosperity Consulting Group LLC grew its holdings in shares of DTE Energy (NYSE:DTE) by 3.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,065 shares of the utilities provider’s stock after acquiring an additional 225 shares during the quarter. Prosperity Consulting Group LLC’s holdings in DTE Energy were worth $853,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc lifted its stake in 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 purchasing an additional 267 shares during the last quarter. Robbins Farley bought a new stake in DTE Energy in the 4th quarter worth approximately $57,000. Kestra Investment Management LLC purchased a new stake in DTE Energy in the fourth quarter worth approximately $57,000. AdvisorNet Financial Inc grew its position in DTE Energy by 81.5% during the fourth quarter. AdvisorNet Financial Inc now owns 697 shares of the utilities provider’s stock valued at $84,000 after acquiring an additional 313 shares during the last quarter. Finally, Flagship Wealth Advisors LLC bought a new position in DTE Energy during the fourth quarter valued at approximately $87,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DTE. Morgan Stanley upped their price objective on shares of DTE Energy from $131.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Guggenheim boosted their target price on DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a research note on Friday, March 21st. BMO Capital Markets raised their price target on DTE Energy from $135.00 to $142.00 and gave the stock a “market perform” rating in a research report on Monday, April 21st. Finally, Barclays lowered DTE Energy from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $137.00 to $135.00 in a research note on Thursday, February 20th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, DTE Energy currently has a consensus rating of “Moderate Buy” and an average price target of $139.17.

Insider Buying and Selling at DTE Energy

In related news, CAO Tracy J. Myrick sold 1,014 shares of DTE Energy stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total transaction of $131,738.88. Following the completion of the transaction, the chief accounting officer now directly owns 3,437 shares of the company’s stock, valued at $446,535.04. This trade represents a 22.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Matthew T. Paul sold 3,801 shares of the business’s 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 sale, the chief operating officer now directly owns 6,951 shares in the company, valued at $900,571.56. The trade was a 35.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,877 shares of company stock valued at $1,559,205. 0.33% of the stock is currently owned by company insiders.

DTE Energy Stock Down 1.7 %

Shares of DTE Energy stock opened at $134.69 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77. DTE Energy has a 12-month low of $108.40 and a 12-month high of $140.39. The company has a market cap of $27.95 billion, a P/E ratio of 19.90, a PEG ratio of 2.41 and a beta of 0.49. The company’s fifty day simple moving average is $133.38 and its two-hundred day simple moving average is $126.36.

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, beating the consensus estimate of $1.50 by $0.01. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. Research analysts anticipate that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th were issued a $1.09 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $4.36 dividend on an annualized basis and a yield of 3.24%. DTE Energy’s dividend payout ratio (DPR) is 64.40%.

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.