DTE Energy (NYSE:DTE) Shares Bought by Modern Wealth Management LLC

Modern Wealth Management LLC grew its holdings in DTE Energy (NYSE:DTE) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,009 shares of the utilities provider’s stock after buying an additional 125 shares during the period. Modern Wealth Management LLC’s holdings in DTE Energy were worth $1,609,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Legacy Investment Solutions LLC purchased a new stake in DTE Energy during the 3rd quarter valued at about $30,000. Versant Capital Management Inc boosted 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 worth $36,000 after purchasing an additional 267 shares during the last quarter. Robbins Farley purchased a new stake in shares of DTE Energy in the fourth quarter valued at approximately $57,000. Kestra Investment Management LLC acquired a new stake in shares of DTE Energy in the fourth quarter valued at approximately $57,000. Finally, Brooklyn Investment Group purchased a new position in DTE Energy during the third quarter worth approximately $83,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Stock Down 1.2 %

NYSE:DTE opened at $134.49 on Wednesday. DTE Energy has a 52 week low of $103.06 and a 52 week high of $138.22. The stock’s fifty day moving average is $128.04 and its two-hundred day moving average is $125.03. The stock has a market capitalization of $27.91 billion, a price-to-earnings ratio of 19.87, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59. 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 posted 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 return on equity of 12.42% and a net margin of 11.27%. Research analysts anticipate that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be paid a $1.09 dividend. This represents a $4.36 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s payout ratio is 64.40%.

Analysts Set New Price Targets

Several brokerages have issued reports on DTE. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Barclays lowered shares of DTE Energy from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $137.00 to $135.00 in a report on Thursday, February 20th. Guggenheim lifted their target price on shares of DTE Energy from $139.00 to $147.00 and gave the stock a “buy” rating in a research note on Friday, March 21st. Morgan Stanley increased their price target on shares of DTE Energy from $131.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Finally, BMO Capital Markets lifted their price target on shares of DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, DTE Energy presently has an average rating of “Moderate Buy” and a consensus price target of $138.58.

Insider Activity at DTE Energy

In other DTE Energy news, CAO Tracy J. Myrick sold 1,014 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $446,535.04. This trade represents a 22.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 value of $935,008.80. Following 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,877 shares of company stock worth $1,559,205. Corporate insiders own 0.61% of the company’s stock.

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.