DTE Energy (NYSE:DTE) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its holdings in DTE Energy (NYSE:DTE) by 5.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 112,115 shares of the utilities provider’s stock after selling 7,000 shares during the quarter. New York State Common Retirement Fund’s holdings in DTE Energy were worth $13,538,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DTE. Mizuho Securities USA LLC lifted its holdings in DTE Energy by 44,009.5% in the third quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock valued at $903,878,000 after acquiring an additional 7,023,042 shares during the period. State Street Corp increased its holdings in shares of DTE Energy by 7.0% in the 3rd quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock valued at $1,319,264,000 after purchasing an additional 662,569 shares in the last quarter. Zimmer Partners LP acquired a new stake in shares of DTE Energy in the third quarter valued at about $69,894,000. Point72 Asset Management L.P. purchased a new stake in DTE Energy during the third quarter worth about $66,733,000. Finally, Nordea Investment Management AB grew its position in DTE Energy by 2,235.2% during the fourth quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider’s stock worth $26,706,000 after buying an additional 211,763 shares during the period. Institutional investors and hedge funds own 76.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Scotiabank lifted their price target on shares of DTE Energy from $137.00 to $147.00 and gave the company 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. Morgan Stanley lowered their target price on DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. BMO Capital Markets raised their price target on DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Finally, Barclays lowered shares of DTE Energy from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $137.00 to $135.00 in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $135.67.

Insider Buying and Selling at DTE Energy

In related news, CAO Tracy J. Myrick sold 1,014 shares of the company’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 transaction of $131,738.88. Following the completion of the transaction, the chief accounting officer now owns 3,437 shares of the company’s stock, valued at approximately $446,535.04. This represents a 22.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Matthew T. Paul sold 3,801 shares of the company’s stock in a transaction 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 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. 0.61% of the stock is owned by company insiders.

DTE Energy Price Performance

NYSE:DTE opened at $131.98 on Monday. DTE Energy has a 12-month low of $103.06 and a 12-month high of $132.88. The firm has a market cap of $27.35 billion, a price-to-earnings ratio of 19.49, a price-to-earnings-growth ratio of 2.41 and a beta of 0.68. The company’s 50-day moving average is $122.15 and its two-hundred day moving average is $123.41. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) 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%. Research analysts expect that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Dividend Announcement

The firm also recently declared 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. This represents a $4.36 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s payout ratio is 64.40%.

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.