New York State Common Retirement Fund Trims Holdings in DTE Energy (NYSE:DTE)

New York State Common Retirement Fund reduced its stake in DTE Energy (NYSE:DTE) by 5.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 112,115 shares of the utilities provider’s stock after selling 7,000 shares during the quarter. New York State Common Retirement Fund owned approximately 0.05% of DTE Energy worth $13,538,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mizuho Securities USA LLC grew its holdings in shares of DTE Energy by 44,009.5% in the third quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock valued at $903,878,000 after purchasing an additional 7,023,042 shares during the period. State Street Corp boosted its holdings in 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 purchasing an additional 662,569 shares during the last quarter. Zimmer Partners LP purchased a new stake in shares of DTE Energy in the 3rd quarter valued at approximately $69,894,000. Point72 Asset Management L.P. acquired a new stake in shares of DTE Energy during the 3rd quarter worth approximately $66,733,000. Finally, Nordea Investment Management AB raised its position in shares of DTE Energy by 2,235.2% during the 4th quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider’s stock valued at $26,706,000 after buying an additional 211,763 shares during the period. 76.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Matthew T. Paul sold 3,801 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $129.56, for a total transaction of $492,457.56. Following the completion of the transaction, the chief operating officer now directly owns 6,951 shares of the company’s stock, valued at approximately $900,571.56. This represents a 35.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Tracy J. Myrick sold 1,014 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total value of $131,738.88. Following the sale, the chief accounting officer now directly owns 3,437 shares in the company, valued at $446,535.04. This trade represents a 22.78 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by company insiders.

DTE Energy Stock Up 0.6 %

DTE Energy stock opened at $131.98 on Monday. The firm has a market capitalization of $27.35 billion, a P/E ratio of 19.49, a P/E/G ratio of 2.41 and a beta of 0.68. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77. DTE Energy has a twelve month low of $103.06 and a twelve month high of $132.88. The stock’s fifty day simple moving average is $122.15 and its 200-day simple moving average is $123.41.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.01. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. As a group, equities analysts expect that DTE Energy will post 7.18 earnings per share 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. Investors 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 dividend on an annualized basis and a yield of 3.30%. DTE Energy’s dividend payout ratio is currently 64.40%.

Analyst Upgrades and Downgrades

DTE has been the subject of several analyst reports. BMO Capital Markets increased their price objective on DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Morgan Stanley lowered their price target on DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. KeyCorp lowered shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Finally, Scotiabank lifted their price target on shares of DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research report on Thursday, December 12th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, DTE Energy has an average rating of “Moderate Buy” and a consensus price target of $135.67.

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.