DTE Energy (NYSE:DTE) Shares Sold by Swiss National Bank

Swiss National Bank reduced its stake in DTE Energy (NYSE:DTE) by 4.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 584,800 shares of the utilities provider’s stock after selling 29,400 shares during the period. Swiss National Bank’s holdings in DTE Energy were worth $70,615,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new stake in DTE Energy during the 3rd quarter worth about $30,000. Prospera Private Wealth LLC acquired a new position in shares of DTE Energy during the third quarter worth about $35,000. Versant Capital Management Inc increased its stake 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 during the period. Coastline Trust Co acquired a new stake in DTE Energy in the third quarter valued at approximately $39,000. Finally, Robbins Farley purchased a new position in DTE Energy in the fourth quarter worth approximately $57,000. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

DTE Energy Stock Performance

Shares of DTE opened at $135.42 on Friday. The company’s 50 day simple moving average is $125.78 and its 200-day simple moving average is $124.47. DTE Energy has a 12-month low of $103.06 and a 12-month high of $136.28. The firm has a market cap of $28.07 billion, a PE ratio of 20.00, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59. 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 data 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 net margin of 11.27% and a return on equity of 12.42%. As a group, equities analysts predict that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be given a dividend of $1.09 per share. The ex-dividend date is Monday, March 17th. This represents a $4.36 dividend on an annualized basis and a yield of 3.22%. DTE Energy’s payout ratio is 64.40%.

Insider Buying and Selling at DTE Energy

In related news, COO Matthew T. Paul sold 3,801 shares of DTE Energy 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 directly owns 6,951 shares in the company, valued at $900,571.56. This trade represents a 35.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, 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 approximately $446,535.04. The trade was a 22.78 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,877 shares of company stock worth $1,559,205. 0.28% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Morgan Stanley reduced their price objective on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Guggenheim upgraded DTE Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. BMO Capital Markets lifted their price target on DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Finally, Barclays cut DTE Energy from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $137.00 to $135.00 in a research note on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, DTE Energy presently has an average rating of “Moderate Buy” and a consensus target price of $137.09.

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.