Meiji Yasuda Asset Management Co Ltd. Purchases 110 Shares of DTE Energy (NYSE:DTE)

Meiji Yasuda Asset Management Co Ltd. increased its position in DTE Energy (NYSE:DTE) by 0.4% in the 4th quarter, Holdings Channel reports. The firm owned 27,281 shares of the utilities provider’s stock after buying an additional 110 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in DTE Energy were worth $3,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of DTE. Modern Wealth Management LLC lifted its holdings in shares of DTE Energy by 1.0% during the 4th quarter. Modern Wealth Management LLC now owns 13,009 shares of the utilities provider’s stock worth $1,609,000 after acquiring an additional 125 shares during the period. Prudential Financial Inc. increased its stake in DTE Energy by 22.0% in the fourth quarter. Prudential Financial Inc. now owns 799,449 shares of the utilities provider’s stock valued at $96,533,000 after acquiring an additional 144,014 shares during the period. Vanguard Group Inc. raised its position in DTE Energy by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 25,286,380 shares of the utilities provider’s stock worth $3,053,330,000 after purchasing an additional 879,670 shares in the last quarter. LPL Financial LLC lifted its stake in DTE Energy by 6.6% during the fourth quarter. LPL Financial LLC now owns 189,734 shares of the utilities provider’s stock worth $22,910,000 after purchasing an additional 11,760 shares during the period. Finally, American Century Companies Inc. boosted its holdings in DTE Energy by 162.2% during the fourth quarter. American Century Companies Inc. now owns 135,750 shares of the utilities provider’s stock valued at $16,392,000 after purchasing an additional 83,969 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

Insider Transactions at DTE Energy

In related news, SVP Joann Chavez sold 7,062 shares of DTE Energy stock in a transaction on Monday, February 24th. The stock was sold at an average price of $132.40, for a total transaction of $935,008.80. Following the completion of the sale, 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 available at this link. Also, CAO Tracy J. Myrick sold 1,014 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total value of $131,738.88. Following the completion of the sale, the chief accounting officer now owns 3,437 shares of the company’s stock, valued at $446,535.04. This represents a 22.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,877 shares of company stock worth $1,559,205 in the last quarter. 0.61% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DTE. Guggenheim increased their target price on DTE Energy from $139.00 to $147.00 and gave the stock a “buy” rating in a report on Friday, March 21st. UBS Group raised DTE Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $129.00 to $143.00 in a report on Tuesday, December 3rd. BMO Capital Markets upped their target price on shares of DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. KeyCorp downgraded shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Finally, Morgan Stanley boosted their price target on shares of DTE Energy from $131.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $138.58.

DTE Energy Stock Performance

DTE stock opened at $134.49 on Wednesday. The company has a 50 day moving average price of $128.04 and a 200 day moving average price of $125.03. DTE Energy has a fifty-two week low of $103.06 and a fifty-two week high of $138.22. 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 has a market capitalization of $27.91 billion, a PE ratio of 19.87, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59.

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

DTE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be paid a $1.09 dividend. This represents a $4.36 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Monday, March 17th. DTE Energy’s dividend payout ratio (DPR) is presently 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.