TIAA Trust National Association Cuts Stock Holdings in DTE Energy (NYSE:DTE)

TIAA Trust National Association lowered its stake in shares of DTE Energy (NYSE:DTE) by 22.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,621 shares of the utilities provider’s stock after selling 758 shares during the quarter. TIAA Trust National Association’s holdings in DTE Energy were worth $316,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Legacy Investment Solutions LLC purchased a new position in DTE Energy during the 3rd quarter worth $30,000. Versant Capital Management Inc lifted its position in shares of DTE Energy by 890.0% during the fourth 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. Robbins Farley purchased a new position in DTE Energy during the fourth quarter worth about $57,000. Kestra Investment Management LLC purchased a new position in DTE Energy during the fourth quarter worth about $57,000. Finally, Brooklyn Investment Group bought a new stake in DTE Energy in the 3rd quarter worth about $83,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Price Performance

DTE opened at $136.47 on Friday. The firm has a 50-day moving average price of $128.84 and a 200-day moving average price of $125.25. DTE Energy has a twelve month low of $103.06 and a twelve month high of $138.22. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $28.32 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 2.41 and a beta of 0.59.

DTE Energy (NYSE:DTE) last released its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 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%. Equities analysts expect that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

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 dividend of $1.09 per share. The ex-dividend date is Monday, March 17th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.19%. DTE Energy’s payout ratio is 64.40%.

Insider Buying and Selling

In other DTE Energy news, SVP Joann Chavez sold 7,062 shares of the 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 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Tracy J. Myrick sold 1,014 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total transaction of $131,738.88. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,877 shares of company stock valued at $1,559,205. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on DTE shares. BMO Capital Markets lifted their target price on shares of DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Barclays cut DTE Energy from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $137.00 to $135.00 in a research report on Thursday, February 20th. Scotiabank raised their target price on DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research report on Thursday, December 12th. Morgan Stanley lifted their target price on DTE Energy from $131.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Finally, KeyCorp lowered shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $138.58.

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.