PGGM Investments Invests $883,000 in DTE Energy (NYSE:DTE)

PGGM Investments bought a new stake in DTE Energy (NYSE:DTE) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 7,315 shares of the utilities provider’s stock, valued at approximately $883,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DTE. Legacy Investment Solutions LLC acquired a new position in DTE Energy in the third quarter valued at $30,000. Ashton Thomas Securities LLC purchased a new stake in shares of DTE Energy in the 3rd quarter valued at about $35,000. Prospera Private Wealth LLC acquired a new stake in shares of DTE Energy in the 3rd quarter valued at about $35,000. Versant Capital Management Inc grew its stake in DTE Energy by 890.0% during the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock worth $36,000 after buying an additional 267 shares during the last quarter. Finally, Coastline Trust Co purchased a new position in DTE Energy during the 3rd quarter worth approximately $39,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Stock Performance

NYSE DTE opened at $132.74 on Friday. The stock has a market capitalization of $27.51 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 2.41 and a beta of 0.59. The business’s 50 day moving average is $125.50 and its two-hundred day moving average is $124.39. DTE Energy has a 12-month low of $103.06 and a 12-month high of $136.28. 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 posted its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share 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%. Research analysts expect that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a $1.09 dividend. The ex-dividend date is Monday, March 17th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.28%. DTE Energy’s dividend payout ratio is presently 64.40%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on DTE shares. UBS Group raised DTE Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $129.00 to $143.00 in a report on Tuesday, December 3rd. BMO Capital Markets increased their price target on shares of DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Scotiabank increased their target price on shares of DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research note on Thursday, December 12th. Finally, Guggenheim raised DTE Energy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, DTE Energy has a consensus rating of “Moderate Buy” and an average target price of $137.09.

Insider Activity

In other DTE Energy news, COO Matthew T. Paul sold 3,801 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Tracy J. Myrick sold 1,014 shares of DTE Energy 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 sale, the chief accounting officer now owns 3,437 shares of the company’s stock, valued at approximately $446,535.04. The trade was a 22.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,877 shares of company stock worth $1,559,205 in the last 90 days. 0.28% of the stock is currently owned by corporate insiders.

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.