Korea Investment CORP Acquires 81,300 Shares of DTE Energy (NYSE:DTE)

Korea Investment CORP lifted its holdings in shares of DTE Energy (NYSE:DTE) by 101.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 161,650 shares of the utilities provider’s stock after acquiring an additional 81,300 shares during the quarter. Korea Investment CORP’s holdings in DTE Energy were worth $19,519,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in DTE Energy during the 4th quarter worth about $761,000. Morey & Quinn Wealth Partners LLC acquired a new position in shares of DTE Energy in the fourth quarter worth approximately $201,000. Meiji Yasuda Asset Management Co Ltd. increased its position in DTE Energy by 0.4% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 27,281 shares of the utilities provider’s stock valued at $3,294,000 after purchasing an additional 110 shares during the period. Modern Wealth Management LLC increased its position in DTE Energy by 1.0% during the 4th quarter. Modern Wealth Management LLC now owns 13,009 shares of the utilities provider’s stock valued at $1,609,000 after purchasing an additional 125 shares during the period. Finally, Prudential Financial Inc. raised its holdings in DTE Energy by 22.0% during the 4th quarter. Prudential Financial Inc. now owns 799,449 shares of the utilities provider’s stock worth $96,533,000 after purchasing an additional 144,014 shares during the last quarter. Institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Up 0.9 %

DTE Energy stock opened at $136.47 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77. The firm’s fifty day moving average price is $128.84 and its two-hundred day moving average price is $125.25. The firm has a market capitalization of $28.32 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59. DTE Energy has a 1-year low of $103.06 and a 1-year high of $138.22.

DTE Energy (NYSE:DTE) last issued 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 return on equity of 12.42% and a net margin of 11.27%. On average, equities research analysts predict that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be issued a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s dividend payout ratio is 64.40%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on DTE shares. Barclays cut shares of 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. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. BMO Capital Markets boosted their price objective on DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Morgan Stanley raised 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, Guggenheim boosted their price target on DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a research note on Friday, March 21st. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $138.58.

Insider Transactions at DTE Energy

In other DTE Energy 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 transaction 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Matthew T. Paul sold 3,801 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 owns 6,951 shares in the company, valued at $900,571.56. The trade was a 35.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,877 shares of company stock worth $1,559,205 in the last quarter. 0.33% of the stock is currently owned by corporate insiders.

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.