Maryland State Retirement & Pension System Sells 773 Shares of DTE Energy (NYSE:DTE)

Maryland State Retirement & Pension System cut its stake in shares of DTE Energy (NYSE:DTE) by 6.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,038 shares of the utilities provider’s stock after selling 773 shares during the quarter. Maryland State Retirement & Pension System’s holdings in DTE Energy were worth $1,333,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DTE. Legacy Investment Solutions LLC bought a new position in shares of DTE Energy in the third quarter valued at about $30,000. Prospera Private Wealth LLC bought a new position in shares of DTE Energy in the third quarter valued at about $35,000. Versant Capital Management Inc raised its holdings in shares of DTE Energy by 890.0% in the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock valued at $36,000 after buying an additional 267 shares during the last quarter. Robbins Farley bought a new position in shares of DTE Energy in the fourth quarter valued at about $57,000. Finally, Kestra Investment Management LLC bought a new stake in DTE Energy during the 4th quarter worth about $57,000. 76.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Joann Chavez sold 7,062 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $132.40, for a total transaction of $935,008.80. Following the sale, the senior vice president now owns 14,067 shares in the company, valued at $1,862,470.80. This represents a 33.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Matthew T. Paul sold 3,801 shares of the company’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 sale, the chief operating officer now owns 6,951 shares in the company, valued at approximately $900,571.56. This represents 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 valued at $1,559,205 in the last quarter. 0.61% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Scotiabank boosted their price objective on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a report on Thursday, December 12th. KeyCorp cut DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. 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 report on Thursday. Guggenheim boosted their target price on DTE Energy from $139.00 to $147.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Barclays lowered DTE Energy from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $137.00 to $135.00 in a research report on Thursday, February 20th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $138.58.

DTE Energy Price Performance

Shares of DTE opened at $137.18 on Friday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71. The stock has a 50 day simple moving average of $127.38 and a 200 day simple moving average of $124.87. DTE Energy has a 52-week low of $103.06 and a 52-week high of $138.22. The firm has a market capitalization of $28.47 billion, a PE ratio of 20.26, a P/E/G ratio of 2.41 and a beta of 0.59.

DTE Energy (NYSE:DTE) last released its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. Sell-side analysts predict that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be given a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Monday, March 17th. DTE Energy’s dividend payout ratio (DPR) is currently 64.40%.

About DTE Energy

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.