Magellan Asset Management Ltd Sells 28,115 Shares of DTE Energy (NYSE:DTE)

Magellan Asset Management Ltd decreased its holdings in DTE Energy (NYSE:DTE) by 16.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 147,318 shares of the utilities provider’s stock after selling 28,115 shares during the period. Magellan Asset Management Ltd owned approximately 0.07% of DTE Energy worth $17,789,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its position in DTE Energy by 3.6% during the 4th 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 shares of DTE Energy by 7.0% in the 3rd quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock valued at $1,319,264,000 after acquiring an additional 662,569 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of DTE Energy by 2.4% in 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 last quarter. Boston Partners boosted its holdings in shares of 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 in the last quarter. Finally, Janus Henderson Group PLC grew its position in DTE Energy by 2.4% during the 3rd quarter. Janus Henderson Group PLC now owns 2,720,265 shares of the utilities provider’s stock worth $349,309,000 after acquiring an additional 64,880 shares during the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Trading Up 0.1 %

Shares of DTE Energy stock opened at $138.12 on Thursday. The stock has a market capitalization of $28.66 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59. DTE Energy has a 52 week low of $103.06 and a 52 week high of $139.05. The stock has a 50 day moving average price of $129.78 and a two-hundred day moving average price of $125.53. 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 posted its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts anticipate that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be paid a $1.09 dividend. This represents a $4.36 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Monday, March 17th. DTE Energy’s dividend payout ratio (DPR) is presently 64.40%.

Analyst Ratings Changes

Several research firms have commented on DTE. KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Guggenheim boosted their target price on shares of DTE Energy from $139.00 to $147.00 and gave the stock a “buy” rating in a report on Friday, March 21st. Morgan Stanley upped their price target on shares of DTE Energy from $131.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. BMO Capital Markets lifted their price target 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. Finally, StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $138.58.

Insider Activity at DTE Energy

In other news, COO Matthew T. Paul sold 3,801 shares of the company’s 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 completion of the sale, the chief operating officer now owns 6,951 shares in the company, valued at $900,571.56. This represents a 35.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Joann Chavez sold 7,062 shares of the firm’s stock in a transaction dated 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 directly owns 14,067 shares in the company, valued at $1,862,470.80. The trade was a 33.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,877 shares of company stock valued at $1,559,205 over the last 90 days. Insiders own 0.33% of the company’s stock.

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.