Capital World Investors Has $823.91 Million Stake in DTE Energy (NYSE:DTE)

Capital World Investors raised its stake in shares of DTE Energy (NYSE:DTE) by 123.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,823,231 shares of the utilities provider’s stock after purchasing an additional 3,766,221 shares during the quarter. Capital World Investors’ holdings in DTE Energy were worth $823,905,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

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

DTE Energy Stock Up 1.0 %

DTE opened at $133.33 on Friday. 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 fifty day moving average of $132.66 and a 200-day moving average of $126.02. DTE Energy has a fifty-two week low of $107.88 and a fifty-two week high of $140.39. The company has a market capitalization of $27.67 billion, a P/E 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 earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping 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%. On average, equities analysts expect that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

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

Insider Activity at DTE Energy

In other DTE Energy news, SVP Joann Chavez sold 7,062 shares of the company’s 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 in the company, valued at $1,862,470.80. This represents a 33.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Tracy J. Myrick sold 1,014 shares of DTE Energy stock in a transaction on 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 transaction, the chief accounting officer now owns 3,437 shares in the company, 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 valued at $1,559,205 over the last quarter. 0.33% of the stock is owned by corporate insiders.

DTE Energy Company 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.