DTE Energy (NYSE:DTE) Shares Sold by Forvis Mazars Wealth Advisors LLC

Forvis Mazars Wealth Advisors LLC lowered its stake in shares of DTE Energy (NYSE:DTE) by 1.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 16,695 shares of the utilities provider’s stock after selling 226 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in DTE Energy were worth $2,016,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new stake in shares of DTE Energy during the 3rd quarter worth $30,000. Ashton Thomas Securities LLC purchased a new stake in DTE Energy during the third quarter valued at about $35,000. Prospera Private Wealth LLC acquired a new stake in DTE Energy during the third quarter worth about $35,000. Versant Capital Management Inc raised its holdings in shares of DTE Energy by 890.0% in the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 267 shares during the period. Finally, Coastline Trust Co acquired a new position in shares of DTE Energy in the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Trading Up 0.6 %

Shares of DTE opened at $131.98 on Monday. DTE Energy has a one year low of $103.06 and a one year high of $132.88. The stock has a 50-day moving average price of $122.15 and a 200 day moving average price of $123.41. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71. The company 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.

DTE Energy (NYSE:DTE) last released its earnings results on Thursday, February 13th. The utilities provider reported $1.51 EPS for the quarter, beating 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%. Sell-side analysts forecast that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be given a $1.09 dividend. This represents a $4.36 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s payout ratio is currently 64.40%.

Insider Activity

In related news, CAO Tracy J. Myrick sold 1,014 shares of the business’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 completion of the sale, the chief accounting officer now directly owns 3,437 shares of the company’s stock, valued at $446,535.04. The trade was a 22.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Matthew T. Paul sold 3,801 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $129.56, for a total value of $492,457.56. Following the transaction, the chief operating officer now directly owns 6,951 shares in the company, valued at approximately $900,571.56. This represents a 35.35 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

DTE has been the subject of a number of research analyst reports. BMO Capital Markets increased their target price on shares of DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $129.00 to $143.00 in a research report on Tuesday, December 3rd. Guggenheim upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Scotiabank increased their price target on DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a report on Thursday, December 12th. Finally, StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.67.

DTE Energy 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.