Wealthspire Advisors LLC Sells 1,045 Shares of DTE Energy (NYSE:DTE)

Wealthspire Advisors LLC decreased its stake in shares of DTE Energy (NYSE:DTE) by 11.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,031 shares of the utilities provider’s stock after selling 1,045 shares during the period. Wealthspire Advisors LLC’s holdings in DTE Energy were worth $970,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of DTE. Dahring Cusmano LLC purchased a new stake in shares of DTE Energy in the fourth quarter worth about $236,000. Paradigm Asset Management Co. LLC bought a new position in DTE Energy during the 4th quarter valued at about $1,352,000. Ieq Capital LLC raised its holdings in shares of DTE Energy by 1,044.7% in the fourth quarter. Ieq Capital LLC now owns 37,696 shares of the utilities provider’s stock worth $4,552,000 after buying an additional 34,403 shares during the period. Private Advisor Group LLC lifted its position in shares of DTE Energy by 3.9% during the fourth quarter. Private Advisor Group LLC now owns 15,525 shares of the utilities provider’s stock worth $1,875,000 after purchasing an additional 577 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in DTE Energy by 2.2% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,261 shares of the utilities provider’s stock valued at $756,000 after buying an additional 132 shares in the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Stock Up 0.7 %

DTE stock opened at $133.33 on Wednesday. The company has a market capitalization of $27.63 billion, a P/E ratio of 19.69, a price-to-earnings-growth ratio of 2.41 and a beta of 0.68. DTE Energy has a 12 month low of $103.06 and a 12 month high of $133.49. The firm’s fifty day simple moving average is $122.62 and its 200-day simple moving average is $123.59. 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 posted its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 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%. As a group, equities research analysts forecast that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be issued a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s dividend payout ratio (DPR) is 64.40%.

Insider Activity at DTE Energy

In other news, COO Matthew T. Paul sold 3,801 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total transaction of $492,457.56. Following the sale, the chief operating officer now owns 6,951 shares of the company’s stock, valued at $900,571.56. This trade represents a 35.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Tracy J. Myrick sold 1,014 shares of DTE Energy stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total transaction of $131,738.88. Following the transaction, the chief accounting officer now directly owns 3,437 shares of the company’s stock, valued at approximately $446,535.04. This trade represents a 22.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,877 shares of company stock worth $1,559,205. 0.61% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. BMO Capital Markets upped their target price on DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. Barclays lowered shares of DTE Energy from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $137.00 to $135.00 in a report on Thursday, February 20th. Scotiabank increased their price objective on DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a report on Thursday, December 12th. Guggenheim raised DTE Energy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $135.67.

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.