105,070 Shares in DTE Energy (NYSE:DTE) Purchased by Greenland Capital Management LP

Greenland Capital Management LP acquired a new position in shares of DTE Energy (NYSE:DTE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 105,070 shares of the utilities provider’s stock, valued at approximately $12,687,000. DTE Energy makes up about 2.0% of Greenland Capital Management LP’s portfolio, making the stock its 4th largest position. Greenland Capital Management LP owned approximately 0.05% of DTE Energy at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DTE. SkyOak Wealth LLC boosted its position in shares of DTE Energy by 4.1% in the 4th quarter. SkyOak Wealth LLC now owns 2,174 shares of the utilities provider’s stock worth $262,000 after purchasing an additional 85 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in DTE Energy by 8.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,205 shares of the utilities provider’s stock worth $146,000 after acquiring an additional 90 shares in the last quarter. Stratos Wealth Partners LTD. grew its stake in shares of DTE Energy by 4.5% in the fourth quarter. Stratos Wealth Partners LTD. now owns 2,139 shares of the utilities provider’s stock worth $258,000 after acquiring an additional 92 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of DTE Energy by 4.0% during the third quarter. Tidal Investments LLC now owns 2,490 shares of the utilities provider’s stock valued at $320,000 after acquiring an additional 96 shares in the last quarter. Finally, Bleakley Financial Group LLC raised its position in shares of DTE Energy by 2.3% in the 4th quarter. Bleakley Financial Group LLC now owns 4,345 shares of the utilities provider’s stock worth $525,000 after purchasing an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Insider Activity

In related news, CAO Tracy J. Myrick sold 1,014 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 3,437 shares in the company, valued at approximately $446,535.04. The trade was a 22.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Matthew T. Paul sold 3,801 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $129.56, for a total transaction of $492,457.56. Following the completion of the sale, the chief operating officer now directly owns 6,951 shares of the company’s stock, valued at $900,571.56. This represents a 35.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,877 shares of company stock valued at $1,559,205 in the last 90 days. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Morgan Stanley increased their price objective 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. Guggenheim increased their price target on shares of DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a report on Friday, March 21st. Barclays lowered shares of DTE Energy from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $137.00 to $135.00 in a report on Thursday, February 20th. Scotiabank increased their target price on DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research note on Thursday, December 12th. Finally, BMO Capital Markets lifted 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. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, DTE Energy currently has an average rating of “Moderate Buy” and a consensus target price of $138.58.

DTE Energy Stock Down 3.0 %

DTE Energy stock opened at $127.91 on Tuesday. DTE Energy has a one year low of $103.06 and a one year high of $140.39. The stock has a fifty day moving average of $130.56 and a 200 day moving average of $125.70. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71. The stock has a market cap of $26.54 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 2.41 and a beta of 0.49.

DTE Energy (NYSE:DTE) last released 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, sell-side analysts predict that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be paid a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s dividend payout ratio is presently 64.40%.

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.