Laird Norton Wetherby Wealth Management LLC Sells 198 Shares of DTE Energy (NYSE:DTE)

Laird Norton Wetherby Wealth Management LLC trimmed its holdings in DTE Energy (NYSE:DTE) by 4.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,474 shares of the utilities provider’s stock after selling 198 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in DTE Energy were worth $540,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. SkyOak Wealth LLC grew its holdings in shares of DTE Energy by 4.1% in the fourth quarter. SkyOak Wealth LLC now owns 2,174 shares of the utilities provider’s stock worth $262,000 after purchasing an additional 85 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in DTE Energy by 8.1% in the 4th 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 during the last quarter. Stratos Wealth Partners LTD. grew its holdings in DTE Energy by 4.5% in the 4th 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. Bleakley Financial Group LLC grew its holdings in 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 acquiring an additional 96 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of DTE Energy by 1.4% during the fourth quarter. Fifth Third Bancorp now owns 7,441 shares of the utilities provider’s stock valued at $899,000 after acquiring an additional 103 shares during the last quarter. 76.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CAO Tracy J. Myrick sold 1,014 shares of DTE Energy stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total value of $131,738.88. Following the sale, the chief accounting officer now directly owns 3,437 shares of the company’s stock, valued at approximately $446,535.04. The trade was a 22.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Matthew T. Paul sold 3,801 shares of DTE Energy stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $129.56, for a total value of $492,457.56. Following the completion of the sale, the chief operating officer now directly owns 6,951 shares in the company, valued at approximately $900,571.56. The trade was a 35.35% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,877 shares of company stock valued at $1,559,205. Company insiders own 0.33% of the company’s stock.

DTE Energy Stock Up 2.6%

Shares of DTE Energy stock opened at $136.08 on Friday. DTE Energy has a 1 year low of $108.40 and a 1 year high of $140.39. 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 company has a 50-day moving average of $134.40 and a 200 day moving average of $127.16. The firm has a market cap of $28.24 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 2.41 and a beta of 0.47.

DTE Energy (NYSE:DTE) last announced its earnings results on Thursday, May 1st. The utilities provider reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.12. The business had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.33 billion. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. During the same quarter last year, the firm earned $1.67 earnings per share. As a group, sell-side analysts anticipate that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be issued a $1.09 dividend. This represents a $4.36 annualized dividend and a yield of 3.20%. The ex-dividend date is Monday, June 16th. DTE Energy’s dividend payout ratio is currently 58.92%.

Analyst Upgrades and Downgrades

DTE has been the topic of several recent analyst reports. Barclays cut DTE Energy from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $137.00 to $135.00 in a research note on Thursday, February 20th. Evercore ISI lifted their price objective on DTE Energy from $136.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Wells Fargo & Company upped their target price on DTE Energy from $145.00 to $154.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Finally, Morgan Stanley lifted their price target on shares of DTE Energy from $131.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $140.31.

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.