Canada Pension Plan Investment Board Has $45.75 Million Stock Holdings in DTE Energy (NYSE:DTE)

Canada Pension Plan Investment Board lowered its position in DTE Energy (NYSE:DTE) by 21.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 378,850 shares of the utilities provider’s stock after selling 100,702 shares during the quarter. Canada Pension Plan Investment Board’s holdings in DTE Energy were worth $45,746,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Versant Capital Management Inc lifted its stake in DTE Energy by 890.0% in the fourth 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 acquired a new position in shares of DTE Energy during the 4th quarter worth $57,000. Kestra Investment Management LLC bought a new position in shares of DTE Energy during the 4th quarter valued at $57,000. AdvisorNet Financial Inc lifted its stake in shares of DTE Energy by 81.5% in the 4th quarter. AdvisorNet Financial Inc now owns 697 shares of the utilities provider’s stock valued at $84,000 after purchasing an additional 313 shares during the last quarter. Finally, Flagship Wealth Advisors LLC bought a new stake in DTE Energy in the fourth quarter worth $87,000. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Stock Performance

Shares of DTE stock opened at $133.33 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. DTE Energy has a 12 month low of $106.80 and a 12 month high of $140.39. The company’s fifty day simple moving average is $132.66 and its 200-day simple moving average is $126.04. The firm has a market cap of $27.67 billion, a PE ratio of 19.69, a P/E/G ratio of 2.41 and a beta of 0.49.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. Equities research analysts expect that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th were given a $1.09 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.27%. DTE Energy’s payout ratio is presently 64.40%.

Insider Buying and Selling

In other news, CAO Tracy J. Myrick sold 1,014 shares of DTE Energy stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total value of $131,738.88. Following the transaction, the chief accounting officer now owns 3,437 shares in the company, valued at approximately $446,535.04. This trade represents a 22.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $935,008.80. Following the completion of the transaction, the senior vice president now owns 14,067 shares in the company, valued at approximately $1,862,470.80. This represents a 33.42 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,877 shares of company stock valued at $1,559,205. 0.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

DTE has been the topic of several recent research reports. BMO Capital Markets raised their target price on DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Barclays downgraded DTE Energy from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $137.00 to $135.00 in a report on Thursday, February 20th. Morgan Stanley boosted their price objective on shares of DTE Energy from $131.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Finally, Guggenheim raised their target price on shares of DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a research note on Friday, March 21st. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, DTE Energy presently has an average rating of “Moderate Buy” and a consensus price target of $138.58.

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.