Insider Selling: DTE Energy (NYSE:DTE) CAO Sells 1,014 Shares of Stock

DTE Energy (NYSE:DTE) 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 transaction, the chief accounting officer now directly owns 3,437 shares of the company’s stock, valued at approximately $446,535.04. This trade represents a 22.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

DTE Energy Trading Up 0.6 %

Shares of DTE stock opened at $131.98 on Friday. The stock has a 50-day simple moving average of $122.15 and a 200 day simple moving average of $123.36. The stock has a market capitalization of $27.35 billion, a P/E ratio of 19.49, a P/E/G ratio of 2.40 and a beta of 0.68. DTE Energy has a fifty-two week low of $103.06 and a fifty-two week high of $132.88. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 earnings per share 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%. On average, sell-side analysts expect that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be issued 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%.

Institutional Investors Weigh In On DTE Energy

A number of institutional investors and hedge funds have recently modified their holdings of DTE. Mizuho Securities USA LLC raised its position in shares of DTE Energy by 44,009.5% during the third quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock worth $903,878,000 after purchasing an additional 7,023,042 shares during the period. Capital World Investors boosted its position in shares of DTE Energy by 123.2% in the 4th quarter. Capital World Investors now owns 6,823,231 shares of the utilities provider’s stock valued at $823,905,000 after purchasing an additional 3,766,221 shares during the period. Vanguard Group Inc. increased its stake in DTE Energy by 3.6% in 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. Balyasny Asset Management L.P. raised its holdings in DTE Energy by 1,794.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 920,569 shares of the utilities provider’s stock worth $111,159,000 after buying an additional 871,978 shares during the period. Finally, AQR Capital Management LLC lifted its stake in DTE Energy by 750.0% during the fourth quarter. AQR Capital Management LLC now owns 964,655 shares of the utilities provider’s stock valued at $116,482,000 after buying an additional 851,169 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

Analysts Set New Price Targets

DTE has been the subject of a number of analyst reports. Morgan Stanley reduced their target price on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Scotiabank boosted their price objective on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. Guggenheim raised DTE Energy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Finally, BMO Capital Markets boosted their price target on DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, DTE Energy has an average rating of “Moderate Buy” and a consensus target price of $135.67.

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.