Crestwood Advisors Group LLC Buys Shares of 1,711 DTE Energy (NYSE:DTE)

Crestwood Advisors Group LLC bought a new stake in DTE Energy (NYSE:DTE) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,711 shares of the utilities provider’s stock, valued at approximately $207,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp increased its holdings in DTE Energy by 7.0% in the third quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock valued at $1,319,264,000 after buying an additional 662,569 shares in the last quarter. Mizuho Securities USA LLC grew its position in shares of 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 purchasing an additional 7,023,042 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of DTE Energy by 2.4% in the third quarter. Janus Henderson Group PLC now owns 2,720,265 shares of the utilities provider’s stock valued at $349,309,000 after purchasing an additional 64,880 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of DTE Energy by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,274,837 shares of the utilities provider’s stock valued at $163,702,000 after purchasing an additional 14,937 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. grew its position in shares of DTE Energy by 3.5% in the third quarter. Duff & Phelps Investment Management Co. now owns 907,345 shares of the utilities provider’s stock valued at $116,512,000 after purchasing an additional 30,909 shares during the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Matthew T. Paul sold 3,801 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total value of $492,457.56. Following the transaction, the chief operating officer now owns 6,951 shares of the company’s stock, valued at approximately $900,571.56. This trade represents a 35.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Joann Chavez sold 7,062 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $132.40, for a total transaction of $935,008.80. Following the completion of the transaction, the senior vice president now directly owns 14,067 shares in the company, valued at approximately $1,862,470.80. This represents a 33.42 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,877 shares of company stock valued at $1,559,205. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on DTE shares. Barclays lowered shares of DTE Energy from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $137.00 to $135.00 in a research report on Thursday, February 20th. Scotiabank increased 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. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. KeyCorp lowered shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Finally, BMO Capital Markets raised 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. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $135.67.

DTE Energy Stock Performance

NYSE:DTE opened at $132.63 on Thursday. 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 company has a market cap of $27.49 billion, a P/E ratio of 19.59, a P/E/G ratio of 2.41 and a beta of 0.68. DTE Energy has a fifty-two week low of $103.06 and a fifty-two week high of $133.49. The firm’s 50 day moving average is $122.92 and its two-hundred day moving average is $123.65.

DTE Energy (NYSE:DTE) last posted its quarterly 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%. Analysts expect that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 dividend yield of 3.29%. The ex-dividend date is Monday, March 17th. DTE Energy’s dividend payout ratio is presently 64.40%.

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.