Cinctive Capital Management LP Acquires New Holdings in DTE Energy (NYSE:DTE)

Cinctive Capital Management LP bought a new position in shares of DTE Energy (NYSE:DTE) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 75,881 shares of the utilities provider’s stock, valued at approximately $9,163,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in shares of DTE Energy during the 3rd quarter valued at $30,000. Versant Capital Management Inc boosted its stake 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 acquired a new stake in shares of DTE Energy during the fourth quarter valued at about $57,000. Kestra Investment Management LLC acquired a new position in shares of DTE Energy in the fourth quarter valued at approximately $57,000. Finally, AdvisorNet Financial Inc raised its holdings in DTE Energy by 81.5% in the 4th quarter. AdvisorNet Financial Inc now owns 697 shares of the utilities provider’s stock valued at $84,000 after buying an additional 313 shares during the last quarter. Institutional investors own 76.06% of the company’s stock.

DTE Energy Trading Down 0.2 %

NYSE DTE opened at $137.98 on Wednesday. The stock has a market capitalization of $28.63 billion, a P/E ratio of 20.38, a P/E/G ratio of 2.41 and a beta of 0.59. The business has a 50 day simple moving average of $129.42 and a 200 day simple moving average of $125.44. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46. DTE Energy has a one year low of $103.06 and a one year high of $139.05.

DTE Energy (NYSE:DTE) last announced 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%. Research analysts expect that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be given a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Monday, March 17th. DTE Energy’s payout ratio is 64.40%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. BMO Capital Markets boosted their target price on shares of DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. KeyCorp cut shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Guggenheim upped their price target on DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a research report on Friday, March 21st. Finally, Morgan Stanley raised their price objective on DTE Energy from $131.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $138.58.

Insider Activity at DTE Energy

In related news, SVP Joann Chavez sold 7,062 shares of DTE Energy stock in a transaction 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 completion of the sale, the senior vice president now owns 14,067 shares of the company’s stock, valued at approximately $1,862,470.80. This trade represents a 33.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 sale, 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 position. The disclosure for this sale can be found here. Insiders sold 11,877 shares of company stock valued at $1,559,205 in the last three months. 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.