DTE Energy (NYSE:DTE) SVP Joann Chavez Sells 7,062 Shares

DTE Energy (NYSE:DTE) SVP Joann Chavez sold 7,062 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $132.40, for a total value of $935,008.80. Following the sale, the senior vice president now owns 14,067 shares of the company’s stock, valued at approximately $1,862,470.80. This represents a 33.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

DTE Energy Stock Performance

Shares of NYSE:DTE opened at $132.63 on Thursday. DTE Energy has a 1 year low of $103.06 and a 1 year high of $133.49. The stock has a market capitalization of $27.49 billion, a price-to-earnings ratio of 19.59, a price-to-earnings-growth ratio of 2.41 and a beta of 0.68. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46. The company’s 50 day simple moving average is $122.92 and its 200 day simple moving average is $123.65.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results 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 return on equity of 12.42% and a net margin of 11.27%. As a group, research analysts predict that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 3.29%. The ex-dividend date is Monday, March 17th. DTE Energy’s payout ratio is 64.40%.

Institutional Investors Weigh In On DTE Energy

A number of hedge funds have recently made changes to their positions in the stock. Legacy Investment Solutions LLC acquired a new position in DTE Energy during the 3rd quarter worth approximately $30,000. Prospera Private Wealth LLC bought a new stake in shares of DTE Energy during the third quarter worth $35,000. Ashton Thomas Securities LLC bought a new stake in shares of DTE Energy during the third quarter worth $35,000. Versant Capital Management Inc increased its holdings in shares of DTE Energy by 890.0% during the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock worth $36,000 after buying an additional 267 shares in the last quarter. Finally, Coastline Trust Co bought a new position in shares of DTE Energy in the 3rd quarter valued at $39,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. UBS Group upgraded 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 note on Tuesday, December 3rd. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Morgan Stanley decreased their price target on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Barclays cut shares of DTE Energy from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $137.00 to $135.00 in a research note on Thursday, February 20th. Finally, KeyCorp lowered shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $135.67.

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.