DTE Energy (NYSE:DTE) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC reduced its stake in DTE Energy (NYSE:DTE) by 7.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,930,734 shares of the utilities provider’s stock after selling 158,137 shares during the quarter. Clearbridge Investments LLC owned 0.93% of DTE Energy worth $233,136,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new position in DTE Energy during the third quarter worth $30,000. Versant Capital Management Inc raised its holdings in shares of DTE Energy by 890.0% in the 4th 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 period. Robbins Farley purchased a new stake in shares of DTE Energy in the 4th quarter valued at $57,000. Kestra Investment Management LLC acquired a new position in DTE Energy during the 4th quarter worth about $57,000. Finally, AdvisorNet Financial Inc boosted its holdings in DTE Energy by 81.5% during the 4th quarter. AdvisorNet Financial Inc now owns 697 shares of the utilities provider’s stock valued at $84,000 after acquiring an additional 313 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DTE. KeyCorp lowered shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Barclays lowered shares of DTE Energy from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $137.00 to $135.00 in a report on Thursday, February 20th. BMO Capital Markets boosted their price target on shares of DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Finally, Guggenheim upped their price target on DTE Energy from $139.00 to $147.00 and gave the stock a “buy” rating in a report on Friday, March 21st. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, DTE Energy has an average rating of “Moderate Buy” and a consensus target price of $138.58.

DTE Energy Price Performance

Shares of NYSE DTE opened at $136.47 on Monday. The stock’s 50-day simple moving average is $128.84 and its 200-day simple moving average is $125.26. The firm has a market capitalization of $28.32 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59. DTE Energy has a fifty-two week low of $103.06 and a fifty-two week high of $138.22. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71.

DTE Energy (NYSE:DTE) last released its quarterly earnings data 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 net margin of 11.27% and a return on equity of 12.42%. As a group, equities research analysts forecast that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

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

Insider Buying and Selling at DTE Energy

In other DTE Energy news, 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 sale, the chief operating officer now owns 6,951 shares in the company, valued at approximately $900,571.56. The trade was a 35.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Joann Chavez sold 7,062 shares of the firm’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 transaction, the senior vice president now owns 14,067 shares in the company, valued at approximately $1,862,470.80. This trade represents a 33.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,877 shares of company stock worth $1,559,205 over the last 90 days. Corporate insiders own 0.33% of the company’s stock.

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.