Glenview Trust co Reduces Stock Position in DTE Energy (NYSE:DTE)

Glenview Trust co cut its stake in DTE Energy (NYSE:DTE) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,945 shares of the utilities provider’s stock after selling 150 shares during the period. Glenview Trust co’s holdings in DTE Energy were worth $476,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new position in DTE Energy in the third quarter valued at about $30,000. Prospera Private Wealth LLC purchased a new position in DTE Energy in the third quarter valued at about $35,000. Versant Capital Management Inc increased its holdings in DTE Energy by 890.0% in the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock valued at $36,000 after buying an additional 267 shares in the last quarter. Coastline Trust Co purchased a new position in DTE Energy in the third quarter valued at about $39,000. Finally, Robbins Farley purchased a new position in DTE Energy in the fourth quarter valued at about $57,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Stock Up 0.3 %

Shares of NYSE DTE opened at $135.60 on Tuesday. DTE Energy has a 1 year low of $103.06 and a 1 year high of $138.93. The firm’s 50 day moving average price is $126.10 and its 200 day moving average price is $124.55. The firm has a market cap of $28.10 billion, a P/E ratio of 20.03, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59. 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 announced its earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, sell-side analysts anticipate that DTE Energy will post 7.18 earnings per share for the current 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 dividend on an annualized basis and a dividend yield of 3.22%. DTE Energy’s dividend payout ratio (DPR) is presently 64.40%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on DTE shares. Barclays cut shares of DTE Energy from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $137.00 to $135.00 in a research note on Thursday, February 20th. BMO Capital Markets raised their price objective on shares of DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $129.00 to $143.00 in a research note on Tuesday, December 3rd. KeyCorp cut shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Finally, Scotiabank raised their price objective 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. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $137.09.

Insider Buying and Selling at DTE Energy

In other DTE Energy 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 transaction, the senior vice president now owns 14,067 shares in the company, valued at $1,862,470.80. This trade represents a 33.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Matthew T. Paul sold 3,801 shares of DTE Energy stock in a transaction on Wednesday, February 19th. The shares were 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 owns 6,951 shares in the company, valued at approximately $900,571.56. This trade represents a 35.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,877 shares of company stock worth $1,559,205 in the last quarter. 0.61% of the stock is owned by insiders.

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.