Vinva Investment Management Ltd Buys 2,800 Shares of DTE Energy (NYSE:DTE)

Vinva Investment Management Ltd boosted its holdings in DTE Energy (NYSE:DTE) by 156.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,595 shares of the utilities provider’s stock after acquiring an additional 2,800 shares during the quarter. Vinva Investment Management Ltd’s holdings in DTE Energy were worth $554,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of DTE. Legacy Investment Solutions LLC purchased a new position in DTE Energy in the 3rd quarter valued at approximately $30,000. Prospera Private Wealth LLC purchased a new position in DTE Energy in the 3rd quarter valued at approximately $35,000. Versant Capital Management Inc grew its stake in DTE Energy by 890.0% in the 4th 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. Robbins Farley purchased a new position in DTE Energy in the 4th quarter valued at approximately $57,000. Finally, Kestra Investment Management LLC purchased a new position in DTE Energy in the 4th quarter valued at approximately $57,000. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

DTE Energy Stock Performance

DTE Energy stock opened at $137.18 on Friday. 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 firm has a 50-day moving average of $127.38 and a 200-day moving average of $124.87. The firm has a market cap of $28.47 billion, a P/E ratio of 20.26, a P/E/G ratio of 2.41 and a beta of 0.59. DTE Energy has a 1-year low of $103.06 and a 1-year high of $138.22.

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%. Sell-side analysts expect that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

The business also recently disclosed 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 yield of 3.18%. DTE Energy’s dividend payout ratio (DPR) is presently 64.40%.

Insiders Place Their Bets

In other DTE Energy news, COO Matthew T. Paul sold 3,801 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total value of $492,457.56. Following the completion of the sale, the chief operating officer now directly owns 6,951 shares in the company, valued at $900,571.56. This trade represents a 35.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 transaction of $131,738.88. Following the completion of the sale, the chief accounting officer now 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 disclosure for this sale can be found here. Insiders sold 11,877 shares of company stock worth $1,559,205 over the last three months. Company insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

DTE has been the subject of a number of recent research reports. Barclays lowered shares of DTE Energy from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $137.00 to $135.00 in a research note on Thursday, February 20th. UBS Group upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $129.00 to $143.00 in a research report on Tuesday, December 3rd. Guggenheim boosted their price target on shares of DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a research report on Friday. BMO Capital Markets increased their target price on DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Finally, StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, DTE Energy has an average rating of “Moderate Buy” and a consensus price target 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.