ClearBridge Investments Ltd Acquires 55,071 Shares of DTE Energy (NYSE:DTE)

ClearBridge Investments Ltd grew its position in shares of DTE Energy (NYSE:DTE) by 10.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 598,401 shares of the utilities provider’s stock after buying an additional 55,071 shares during the quarter. DTE Energy makes up approximately 1.9% of ClearBridge Investments Ltd’s portfolio, making the stock its 22nd largest position. ClearBridge Investments Ltd’s holdings in DTE Energy were worth $72,257,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in DTE. CIBC Private Wealth Group LLC boosted its position in DTE Energy by 517.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 58,400 shares of the utilities provider’s stock valued at $7,067,000 after buying an additional 48,936 shares in the last quarter. Schroder Investment Management Group increased its holdings in DTE Energy by 42.3% in the fourth quarter. Schroder Investment Management Group now owns 34,928 shares of the utilities provider’s stock valued at $4,211,000 after purchasing an additional 10,384 shares during the period. Arrowstreet Capital Limited Partnership raised its position in DTE Energy by 0.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 101,451 shares of the utilities provider’s stock worth $12,250,000 after purchasing an additional 655 shares during the last quarter. Intrust Bank NA lifted its holdings in DTE Energy by 2.5% during the 4th quarter. Intrust Bank NA now owns 8,329 shares of the utilities provider’s stock worth $1,006,000 after buying an additional 207 shares during the period. Finally, Allstate Corp bought a new stake in shares of DTE Energy in the 4th quarter valued at about $757,000. Institutional investors and hedge funds own 76.06% of the company’s stock.

Insider Buying and Selling

In other news, SVP Joann Chavez sold 7,062 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $132.40, for a total transaction of $935,008.80. Following the sale, the senior vice president now directly owns 14,067 shares in the company, valued at $1,862,470.80. This trade represents a 33.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Tracy J. Myrick sold 1,014 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total transaction of $131,738.88. Following the transaction, the chief accounting officer now owns 3,437 shares of the company’s stock, valued at $446,535.04. This represents a 22.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,877 shares of company stock worth $1,559,205 in the last 90 days. 0.33% of the stock is owned by corporate insiders.

DTE Energy Price Performance

Shares of DTE Energy stock opened at $136.47 on Friday. DTE Energy has a one year low of $103.06 and a one year high of $138.22. 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 stock has a market cap of $28.32 billion, a P/E ratio of 20.16, a P/E/G ratio of 2.41 and a beta of 0.59. The stock’s fifty day moving average is $128.84 and its 200 day moving average is $125.25.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates 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 anticipate that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 3.19%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s dividend payout ratio (DPR) is 64.40%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Guggenheim increased their price target on DTE Energy from $139.00 to $147.00 and gave the stock a “buy” rating in a report on Friday, March 21st. BMO Capital Markets raised their target price on DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. KeyCorp lowered DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. 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 report on Thursday, December 12th. Finally, StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $138.58.

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.