Forvis Mazars Wealth Advisors LLC Trims Position in DTE Energy (NYSE:DTE)

Forvis Mazars Wealth Advisors LLC lowered its stake in shares of DTE Energy (NYSE:DTE) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,695 shares of the utilities provider’s stock after selling 226 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in DTE Energy were worth $2,016,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in DTE. Legacy Investment Solutions LLC acquired a new position in shares of DTE Energy in the third quarter valued at approximately $30,000. Ashton Thomas Securities LLC purchased a new position in DTE Energy in the 3rd quarter valued at $35,000. Prospera Private Wealth LLC purchased a new position in DTE Energy in the 3rd quarter valued at $35,000. Versant Capital Management Inc raised its position in DTE Energy by 890.0% during the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock worth $36,000 after buying an additional 267 shares during the last quarter. Finally, Coastline Trust Co acquired a new stake in shares of DTE Energy in the 3rd quarter worth $39,000. Institutional investors and hedge funds own 76.06% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DTE. 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. Barclays cut DTE Energy from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $137.00 to $135.00 in a research report on Thursday. KeyCorp cut DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Morgan Stanley dropped their price objective on DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Finally, UBS Group raised DTE Energy from a “neutral” rating to a “buy” rating and raised their target price for the company from $129.00 to $143.00 in a report on Tuesday, December 3rd. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $135.67.

Insider Activity at DTE Energy

In other DTE Energy news, CAO Tracy J. Myrick sold 1,014 shares of DTE Energy stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total value of $131,738.88. Following the completion of the sale, the chief accounting officer now directly owns 3,437 shares of the company’s stock, valued at approximately $446,535.04. The trade was a 22.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Matthew T. Paul sold 3,801 shares of the stock in a transaction 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 transaction, the chief operating officer now directly 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. Corporate insiders own 0.61% of the company’s stock.

DTE Energy Price Performance

Shares of NYSE DTE opened at $131.98 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77. The company’s 50-day moving average price is $122.15 and its 200 day moving average price is $123.41. DTE Energy has a 52 week low of $103.06 and a 52 week high of $132.88. The stock has a market cap of $27.35 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 2.41 and a beta of 0.68.

DTE Energy (NYSE:DTE) last released its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 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, research analysts forecast that DTE Energy will post 7.18 earnings per share 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. Stockholders of record on Monday, March 17th will be given a $1.09 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $4.36 annualized dividend and a dividend yield of 3.30%. DTE Energy’s dividend payout ratio 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.