Neuberger Berman Group LLC Cuts Stock Position in DTE Energy (NYSE:DTE)

Neuberger Berman Group LLC trimmed its position in DTE Energy (NYSE:DTE) by 54.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,163,197 shares of the utilities provider’s stock after selling 1,367,039 shares during the quarter. Neuberger Berman Group LLC owned about 0.56% of DTE Energy worth $140,432,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Versant Capital Management Inc raised its holdings in DTE Energy by 890.0% in the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 267 shares during the last quarter. Robbins Farley purchased a new stake in DTE Energy during the fourth quarter worth about $57,000. Kestra Investment Management LLC purchased a new stake in shares of DTE Energy in the fourth quarter valued at about $57,000. AdvisorNet Financial Inc raised its position in shares of DTE Energy by 81.5% in the fourth quarter. AdvisorNet Financial Inc now owns 697 shares of the utilities provider’s stock valued at $84,000 after buying an additional 313 shares during the last quarter. Finally, Flagship Wealth Advisors LLC acquired a new position in shares of DTE Energy in the fourth quarter valued at approximately $87,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on DTE. Barclays downgraded 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 note on Thursday, February 20th. Guggenheim boosted 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. Scotiabank lifted their target price on shares of DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Finally, Morgan Stanley boosted their target price on shares of DTE Energy from $131.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $138.58.

Insider Buying and Selling at DTE Energy

In related news, SVP Joann Chavez sold 7,062 shares of the business’s stock in a transaction on 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 owns 14,067 shares in the company, valued at $1,862,470.80. The trade was a 33.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Tracy J. Myrick sold 1,014 shares of the stock in a transaction dated 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 owns 3,437 shares of the company’s stock, valued at approximately $446,535.04. The trade was 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 over the last quarter. 0.33% of the stock is currently owned by insiders.

DTE Energy Price Performance

Shares of NYSE:DTE opened at $130.33 on Thursday. The business’s 50 day simple moving average is $131.35 and its 200-day simple moving average is $125.79. 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 has a market capitalization of $27.05 billion, a price-to-earnings ratio of 19.25, a price-to-earnings-growth ratio of 2.41 and a beta of 0.49. DTE Energy has a 12 month low of $103.06 and a 12 month high of $140.39.

DTE Energy (NYSE:DTE) last announced its earnings results on Thursday, February 13th. The utilities provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.50 by $0.01. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. As a group, equities analysts forecast that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be given a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Monday, March 17th. DTE Energy’s dividend payout ratio (DPR) is currently 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.