Summit Global Investments Sells 12,939 Shares of DTE Energy (NYSE:DTE)

Summit Global Investments cut its holdings in DTE Energy (NYSE:DTE) by 36.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,436 shares of the utilities provider’s stock after selling 12,939 shares during the period. Summit Global Investments’ holdings in DTE Energy were worth $2,709,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Empowered Funds LLC grew its stake in DTE Energy by 9.3% in the 3rd quarter. Empowered Funds LLC now owns 3,028 shares of the utilities provider’s stock valued at $389,000 after purchasing an additional 258 shares during the period. Quest Partners LLC boosted its holdings in shares of DTE Energy by 21,380.0% in the 3rd quarter. Quest Partners LLC now owns 1,074 shares of the utilities provider’s stock worth $138,000 after buying an additional 1,069 shares during the last quarter. Pathstone Holdings LLC grew its position in DTE Energy by 2.8% during the third quarter. Pathstone Holdings LLC now owns 20,173 shares of the utilities provider’s stock valued at $2,592,000 after buying an additional 549 shares during the period. Caprock Group LLC increased its holdings in DTE Energy by 7.0% during the third quarter. Caprock Group LLC now owns 2,397 shares of the utilities provider’s stock worth $311,000 after buying an additional 157 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in DTE Energy in the third quarter worth about $1,257,000. 76.06% of the stock is owned by institutional investors.

Insider Buying and Selling at DTE Energy

In related news, CAO Tracy J. Myrick sold 1,014 shares of the firm’s 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 sale, the chief accounting officer now directly owns 3,437 shares of the company’s stock, valued at $446,535.04. This trade represents a 22.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Matthew T. Paul sold 3,801 shares of DTE Energy stock in a transaction that occurred 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 sale, the chief operating officer now owns 6,951 shares of the company’s stock, valued at approximately $900,571.56. The trade was a 35.35 % 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 in the last 90 days. Corporate insiders own 0.61% of the company’s stock.

DTE Energy Trading Up 0.2 %

Shares of DTE opened at $137.18 on Friday. DTE Energy has a twelve month low of $103.06 and a twelve month high of $138.22. The stock has a market cap of $28.47 billion, a PE ratio of 20.26, a P/E/G ratio of 2.41 and a beta of 0.59. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. The business’s 50-day moving average price is $127.38 and its 200-day moving average price is $124.87.

DTE Energy (NYSE:DTE) last posted its earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share 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%. On average, equities analysts forecast that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 3.18%. DTE Energy’s dividend payout ratio is currently 64.40%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on DTE shares. Guggenheim increased their target price on shares of DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a research report on Friday. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Barclays lowered DTE Energy from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $137.00 to $135.00 in a research note on Thursday, February 20th. Scotiabank increased their price target on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research note on Thursday, December 12th. Finally, UBS Group raised DTE Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $129.00 to $143.00 in a report on Tuesday, December 3rd. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $138.58.

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.