DTE Energy (NYSE:DTE) SVP Joann Chavez Sells 7,062 Shares

DTE Energy (NYSE:DTE) 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 transaction of $935,008.80. Following the completion of the transaction, the senior vice president now directly owns 14,067 shares of the company’s stock, valued at approximately $1,862,470.80. This trade represents a 33.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

DTE Energy Price Performance

Shares of DTE Energy stock opened at $133.33 on Wednesday. The company has a 50-day simple moving average of $122.62 and a two-hundred day simple moving average of $123.59. The stock has a market capitalization of $27.63 billion, a price-to-earnings ratio of 19.69, a price-to-earnings-growth 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 has a twelve month low of $103.06 and a twelve month high of $133.49.

DTE Energy (NYSE:DTE) last issued its earnings results on Thursday, February 13th. The utilities provider reported $1.51 EPS for the quarter, beating 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%. Analysts forecast that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Morgan Stanley cut their target price on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Guggenheim upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. KeyCorp cut shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Finally, Scotiabank raised their target price on shares of DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research note on Thursday, December 12th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $135.67.

Hedge Funds Weigh In On DTE Energy

Several hedge funds and other institutional investors have recently made changes to their positions in DTE. Legacy Investment Solutions LLC bought a new stake in shares of DTE Energy during the 3rd quarter valued at approximately $30,000. Prospera Private Wealth LLC bought a new stake in shares of DTE Energy during the 3rd quarter valued at approximately $35,000. Ashton Thomas Securities LLC bought a new stake in shares of DTE Energy during the 3rd quarter valued at approximately $35,000. Versant Capital Management Inc grew its holdings 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 during the last quarter. Finally, Coastline Trust Co bought a new stake in shares of DTE Energy during the 3rd quarter valued at approximately $39,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

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.