Kestra Investment Management LLC Acquires Shares of 474 DTE Energy (NYSE:DTE)

Kestra Investment Management LLC acquired a new stake in DTE Energy (NYSE:DTE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 474 shares of the utilities provider’s stock, valued at approximately $57,000.

A number of other hedge funds have also recently modified their holdings of DTE. Legacy Investment Solutions LLC purchased a new position in shares of DTE Energy in the third quarter valued at about $30,000. Ashton Thomas Securities LLC purchased a new position in shares of DTE Energy in the third quarter valued at about $35,000. Prospera Private Wealth LLC purchased a new position in shares of DTE Energy in the third quarter valued at about $35,000. Versant Capital Management Inc boosted its stake in shares of DTE Energy by 890.0% during the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 267 shares in the last quarter. Finally, Coastline Trust Co bought a new stake in shares of DTE Energy during the 3rd quarter valued at about $39,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Trading Up 0.6 %

NYSE:DTE opened at $131.98 on Friday. 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 $27.35 billion, a P/E ratio of 19.49, a PEG ratio of 2.40 and a beta of 0.68. DTE Energy has a one year low of $103.06 and a one year high of $132.88. The company’s 50-day simple moving average is $122.15 and its 200 day simple moving average is $123.36.

DTE Energy (NYSE:DTE) last issued its earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate 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, analysts forecast that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be issued a $1.09 dividend. The ex-dividend date is Monday, March 17th. This represents a $4.36 annualized dividend and a yield of 3.30%. DTE Energy’s dividend payout ratio (DPR) is presently 64.40%.

Insiders Place Their Bets

In other DTE Energy news, COO Matthew T. Paul sold 3,801 shares of DTE Energy stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total value of $492,457.56. Following the completion of the transaction, the chief operating officer now directly owns 6,951 shares of the company’s stock, valued at approximately $900,571.56. The trade was a 35.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $131,738.88. Following the completion of the transaction, the chief accounting officer now directly owns 3,437 shares of the company’s stock, valued at $446,535.04. This trade represents a 22.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Guggenheim raised shares of DTE Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. BMO Capital Markets lifted their target price on shares of DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a research note on Tuesday. Barclays lowered shares of DTE Energy from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $137.00 to $135.00 in a research note on Thursday. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Morgan Stanley cut their target price on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $135.67.

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.