Quarry LP Acquires 398 Shares of DTE Energy (NYSE:DTE)

Quarry LP increased its position in DTE Energy (NYSE:DTE) by 47.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,230 shares of the utilities provider’s stock after buying an additional 398 shares during the quarter. Quarry LP’s holdings in DTE Energy were worth $149,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of DTE. Barclays PLC increased its stake in DTE Energy by 11.9% in the 3rd quarter. Barclays PLC now owns 755,084 shares of the utilities provider’s stock worth $96,961,000 after purchasing an additional 80,543 shares during the period. World Investment Advisors LLC purchased a new position in DTE Energy during the 3rd quarter valued at about $269,000. Arvest Bank Trust Division purchased a new position in DTE Energy during the 3rd quarter valued at about $10,338,000. Wilmington Savings Fund Society FSB purchased a new position in DTE Energy during the 3rd quarter valued at about $155,000. Finally, Tidal Investments LLC raised its holdings in DTE Energy by 4.0% in the third quarter. Tidal Investments LLC now owns 2,490 shares of the utilities provider’s stock worth $320,000 after buying an additional 96 shares during the last quarter. Institutional investors own 76.06% of the company’s stock.

DTE Energy Trading Up 0.9 %

Shares of DTE stock opened at $135.92 on Tuesday. DTE Energy has a 1 year low of $108.40 and a 1 year high of $140.39. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46. The stock’s 50 day simple moving average is $133.49 and its two-hundred day simple moving average is $126.44. The company has a market cap of $28.21 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 2.41 and a beta of 0.49.

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

DTE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 17th were paid a $1.09 dividend. The ex-dividend date was Monday, March 17th. This represents a $4.36 annualized dividend and a yield of 3.21%. DTE Energy’s dividend payout ratio (DPR) is currently 64.40%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DTE. Guggenheim lifted their target price on shares of DTE Energy from $139.00 to $147.00 and gave the stock a “buy” rating in a 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. BMO Capital Markets upped their price target 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. Barclays lowered shares of DTE Energy from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $137.00 to $135.00 in a research report on Thursday, February 20th. Finally, Morgan Stanley lifted their price target on shares of DTE Energy from $131.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, DTE Energy has an average rating of “Moderate Buy” and an average target price of $139.17.

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 sale, the chief accounting officer now owns 3,437 shares of the company’s stock, valued at approximately $446,535.04. This trade represents a 22.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Matthew T. Paul sold 3,801 shares of the stock in a transaction on Wednesday, February 19th. The shares were 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 in the company, valued at $900,571.56. This trade represents a 35.35 % 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 valued at $1,559,205 over the last quarter. 0.33% of the stock is owned by corporate insiders.

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.