DTE Energy (NYSE:DTE) Shares Sold by Sit Investment Associates Inc.

Sit Investment Associates Inc. reduced its stake in DTE Energy (NYSE:DTE) by 7.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 40,855 shares of the utilities provider’s stock after selling 3,160 shares during the quarter. Sit Investment Associates Inc.’s holdings in DTE Energy were worth $4,933,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in DTE Energy by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 25,286,380 shares of the utilities provider’s stock worth $3,053,330,000 after purchasing an additional 879,670 shares in the last quarter. State Street Corp lifted its stake in DTE Energy by 7.0% during the 3rd quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock worth $1,319,264,000 after acquiring an additional 662,569 shares in the last quarter. Geode Capital Management LLC boosted its holdings in DTE Energy by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 4,920,971 shares of the utilities provider’s stock valued at $592,642,000 after acquiring an additional 115,270 shares during the period. Boston Partners boosted its holdings in DTE Energy by 25.1% during the 4th quarter. Boston Partners now owns 2,899,823 shares of the utilities provider’s stock valued at $350,150,000 after acquiring an additional 582,643 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in DTE Energy by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,306,664 shares of the utilities provider’s stock worth $157,780,000 after purchasing an additional 31,827 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Insider Activity at DTE Energy

In other news, COO Matthew T. Paul sold 3,801 shares of DTE Energy stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total value of $492,457.56. Following the transaction, the chief operating officer now directly owns 6,951 shares of the company’s stock, valued at $900,571.56. The trade was a 35.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Tracy J. Myrick sold 1,014 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total transaction of $131,738.88. Following the sale, the chief accounting officer now owns 3,437 shares of the company’s stock, valued at approximately $446,535.04. This represents a 22.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,877 shares of company stock valued at $1,559,205 in the last three months. 0.33% of the stock is currently owned by company insiders.

DTE Energy Stock Performance

Shares of DTE opened at $131.85 on Friday. The company has a market capitalization of $27.36 billion, a price-to-earnings ratio of 19.47, a price-to-earnings-growth ratio of 2.41 and a beta of 0.49. DTE Energy has a 52-week low of $103.06 and a 52-week high of $140.39. 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 stock has a 50 day moving average price of $130.43 and a 200 day moving average price of $125.66.

DTE Energy (NYSE:DTE) last posted its earnings results on Thursday, February 13th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. Research analysts predict that DTE Energy will post 7.18 EPS for the current fiscal 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 issued a $1.09 dividend. This represents a $4.36 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Monday, March 17th. DTE Energy’s payout ratio is currently 64.40%.

Analyst Ratings Changes

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

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.