Flagship Wealth Advisors LLC Makes New $87,000 Investment in DTE Energy (NYSE:DTE)

Flagship Wealth Advisors LLC bought a new position in shares of DTE Energy (NYSE:DTE) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 721 shares of the utilities provider’s stock, valued at approximately $87,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Signaturefd LLC grew its stake in shares of DTE Energy by 10.8% in the fourth quarter. Signaturefd LLC now owns 3,200 shares of the utilities provider’s stock worth $386,000 after purchasing an additional 311 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of DTE Energy by 21.1% in the fourth quarter. Parallel Advisors LLC now owns 2,674 shares of the utilities provider’s stock worth $323,000 after purchasing an additional 466 shares during the last quarter. Cibc World Markets Corp grew its stake in shares of DTE Energy by 16.4% in the fourth quarter. Cibc World Markets Corp now owns 32,688 shares of the utilities provider’s stock worth $3,947,000 after purchasing an additional 4,594 shares during the last quarter. GWN Securities Inc. bought a new stake in shares of DTE Energy in the fourth quarter worth $211,000. Finally, Envestnet Portfolio Solutions Inc. grew its stake in shares of DTE Energy by 4.1% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,853 shares of the utilities provider’s stock worth $707,000 after purchasing an additional 233 shares during the last quarter. Institutional investors own 76.06% of the company’s stock.

DTE Energy Price Performance

Shares of NYSE DTE opened at $135.60 on Tuesday. The firm’s 50-day moving average price is $126.10 and its 200-day moving average price is $124.55. DTE Energy has a 1-year low of $103.06 and a 1-year high of $138.93. The firm has a market capitalization of $28.10 billion, a P/E ratio of 20.03, a P/E/G 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 announced its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.01. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. Equities research analysts anticipate that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 3.22%. DTE Energy’s dividend payout ratio is presently 64.40%.

Insider Buying and Selling

In related news, SVP Joann Chavez sold 7,062 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were 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 in the company, valued at $1,862,470.80. This represents a 33.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Matthew T. Paul sold 3,801 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $129.56, for a total transaction of $492,457.56. Following the completion of the sale, the chief operating officer now owns 6,951 shares in the company, valued at $900,571.56. This represents a 35.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,877 shares of company stock worth $1,559,205 in the last quarter. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in 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 research note on Friday, November 22nd. Guggenheim raised shares of DTE Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. KeyCorp cut shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Finally, Scotiabank upped 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. Five 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 an average rating of “Moderate Buy” and an average price target 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.