DTE Energy (NYSE:DTE) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund cut its stake in shares of DTE Energy (NYSE:DTE) by 34.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,568 shares of the utilities provider’s stock after selling 25,653 shares during the period. Illinois Municipal Retirement Fund’s holdings in DTE Energy were worth $5,985,000 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. Vaughan David Investments LLC IL raised its holdings in DTE Energy by 1.4% during the 4th quarter. Vaughan David Investments LLC IL now owns 347,444 shares of the utilities provider’s stock worth $41,954,000 after buying an additional 4,792 shares during the period. Crestwood Advisors Group LLC purchased a new position in shares of DTE Energy in the fourth quarter worth approximately $207,000. RWC Asset Management LLP acquired a new stake in shares of DTE Energy during the fourth quarter valued at approximately $8,961,000. Midwest Capital Advisors LLC purchased a new stake in shares of DTE Energy in the 4th quarter valued at approximately $298,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in DTE Energy in the 4th quarter worth approximately $591,000. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Stock Performance

DTE stock opened at $132.63 on Thursday. The firm has a 50 day moving average of $122.92 and a two-hundred day moving average of $123.65. DTE Energy has a 12 month low of $103.06 and a 12 month high of $133.49. The company has a market capitalization of $27.49 billion, a price-to-earnings ratio of 19.59, a P/E/G ratio of 2.41 and a beta of 0.68. 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 (NYSE:DTE) last issued its quarterly earnings data 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%. As a group, equities analysts anticipate that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s payout ratio is 64.40%.

Analyst Ratings Changes

Several brokerages have issued reports on DTE. Scotiabank boosted their target price on shares of DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research note on Thursday, December 12th. Morgan Stanley reduced their price objective on DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Barclays lowered 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 research report on Thursday, February 20th. BMO Capital Markets upped 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. Finally, StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $135.67.

Insider Buying and Selling

In other news, SVP Joann Chavez sold 7,062 shares of DTE Energy stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $132.40, for a total value of $935,008.80. Following the transaction, the senior vice president now owns 14,067 shares of the company’s stock, valued at $1,862,470.80. This trade represents a 33.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Tracy J. Myrick sold 1,014 shares of the company’s stock in a transaction 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 sale, the chief accounting officer now directly owns 3,437 shares of the company’s stock, valued at approximately $446,535.04. This represents a 22.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,877 shares of company stock worth $1,559,205. 0.61% of the stock is currently owned by insiders.

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.