USS Investment Management Ltd Cuts Holdings in DTE Energy (NYSE:DTE)

USS Investment Management Ltd decreased its stake in DTE Energy (NYSE:DTE) by 20.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,294 shares of the utilities provider’s stock after selling 12,461 shares during the quarter. USS Investment Management Ltd’s holdings in DTE Energy were worth $5,953,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of DTE Energy by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 25,286,380 shares of the utilities provider’s stock valued at $3,053,330,000 after purchasing an additional 879,670 shares during the period. Capital World Investors grew 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 valued at $823,905,000 after purchasing an additional 3,766,221 shares during the period. Geode Capital Management LLC grew its position in shares of DTE Energy by 2.4% in 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 purchasing an additional 115,270 shares during the period. Boston Partners grew its position in shares of DTE Energy by 25.1% in the fourth quarter. Boston Partners now owns 2,899,823 shares of the utilities provider’s stock valued at $350,150,000 after purchasing an additional 582,643 shares during the period. Finally, Janus Henderson Group PLC grew its position in shares of DTE Energy by 0.5% in the fourth quarter. Janus Henderson Group PLC now owns 2,732,819 shares of the utilities provider’s stock valued at $329,988,000 after purchasing an additional 12,554 shares during the period. Institutional investors and hedge funds own 76.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DTE. BMO Capital Markets lifted their target price on shares of DTE Energy from $135.00 to $142.00 and gave the company a “market perform” rating in a research report on Monday, April 21st. Evercore ISI raised their price target on shares of DTE Energy from $136.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Wells Fargo & Company raised their price target on shares of DTE Energy from $145.00 to $154.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Barclays downgraded shares of DTE Energy from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $137.00 to $135.00 in a research note on Thursday, February 20th. Finally, Morgan Stanley decreased their price target on shares of DTE Energy from $136.00 to $134.00 and set an “overweight” rating on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $140.15.

Insiders Place Their Bets

In other DTE Energy news, SVP Joann Chavez sold 7,062 shares of DTE Energy stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $132.40, for a total transaction of $935,008.80. Following the transaction, the senior vice president now directly owns 14,067 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is owned by insiders.

DTE Energy Price Performance

Shares of DTE stock opened at $134.67 on Friday. 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 firm’s 50-day moving average is $134.78 and its two-hundred day moving average is $127.65. DTE Energy has a 12 month low of $108.40 and a 12 month high of $140.39. The company has a market capitalization of $27.95 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 2.41 and a beta of 0.47.

DTE Energy (NYSE:DTE) last issued its earnings results on Thursday, May 1st. The utilities provider reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.12. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. The company had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same period in the previous year, the firm earned $1.67 earnings per share. Analysts predict that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be paid a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Monday, June 16th. DTE Energy’s dividend payout ratio (DPR) is presently 58.92%.

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.