Parallel Advisors LLC Boosts Stake in DTE Energy (NYSE:DTE)

Parallel Advisors LLC increased its position in DTE Energy (NYSE:DTE) by 21.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,674 shares of the utilities provider’s stock after purchasing an additional 466 shares during the quarter. Parallel Advisors LLC’s holdings in DTE Energy were worth $323,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. State Street Corp lifted its position in DTE Energy by 7.0% during 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 during the period. Janus Henderson Group PLC lifted its position in DTE Energy by 2.4% during the 3rd quarter. Janus Henderson Group PLC now owns 2,720,265 shares of the utilities provider’s stock valued at $349,309,000 after acquiring an additional 64,880 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in DTE Energy by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,306,664 shares of the utilities provider’s stock worth $157,780,000 after acquiring an additional 31,827 shares in the last quarter. Duff & Phelps Investment Management Co. grew its holdings in 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 worth $116,512,000 after purchasing an additional 30,909 shares during the period. Finally, Barclays PLC increased its stake in shares of DTE Energy by 11.9% during the third quarter. Barclays PLC now owns 755,084 shares of the utilities provider’s stock valued at $96,961,000 after purchasing an additional 80,543 shares in the last quarter. 76.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling at DTE Energy

In related news, CAO Tracy J. Myrick sold 1,014 shares of the business’s 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 completion of the sale, the chief accounting officer now directly owns 3,437 shares in the company, valued at approximately $446,535.04. The trade was a 22.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Matthew T. Paul sold 3,801 shares of the stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 6,951 shares in the company, valued at $900,571.56. The trade was a 35.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,877 shares of company stock worth $1,559,205 in the last three months. 0.61% of the stock is currently owned by company insiders.

DTE Energy Stock Performance

Shares of DTE stock opened at $137.18 on Friday. 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 50 day moving average price of $127.38 and a 200-day moving average price of $124.87. DTE Energy has a 52 week low of $103.06 and a 52 week high of $138.22. The firm has a market capitalization of $28.47 billion, a PE ratio of 20.26, a P/E/G ratio of 2.41 and a beta of 0.59.

DTE Energy (NYSE:DTE) last posted its earnings results on Thursday, February 13th. The utilities provider reported $1.51 EPS 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%. As a group, equities research analysts expect that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be given a $1.09 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $4.36 annualized dividend and a yield of 3.18%. DTE Energy’s payout ratio is 64.40%.

Analyst Ratings Changes

Several analysts recently weighed in on DTE shares. Barclays downgraded DTE Energy from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $137.00 to $135.00 in a research note on Thursday, February 20th. Scotiabank increased their target price on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research note on Thursday, December 12th. Guggenheim lifted their price target on DTE Energy from $139.00 to $147.00 and gave the stock a “buy” rating in a research report on Friday. UBS Group raised shares of 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 research report on Tuesday, December 3rd. Finally, StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, DTE Energy has an average rating of “Moderate Buy” and a consensus price target of $138.58.

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.