Prudential Financial Inc. Acquires 144,014 Shares of DTE Energy (NYSE:DTE)

Prudential Financial Inc. boosted its holdings in shares of DTE Energy (NYSE:DTE) by 22.0% in the fourth quarter, HoldingsChannel reports. The fund owned 799,449 shares of the utilities provider’s stock after acquiring an additional 144,014 shares during the period. Prudential Financial Inc.’s holdings in DTE Energy were worth $96,533,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of DTE. Legacy Investment Solutions LLC bought a new position in shares of DTE Energy during the third quarter valued at approximately $30,000. Versant Capital Management Inc increased its position in DTE Energy by 890.0% during the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock valued at $36,000 after buying an additional 267 shares in the last quarter. Robbins Farley bought a new position in DTE Energy during the 4th quarter valued at approximately $57,000. Kestra Investment Management LLC purchased a new position in DTE Energy during the fourth quarter valued at $57,000. Finally, Brooklyn Investment Group bought a new stake in DTE Energy in the third quarter worth $83,000. Institutional investors own 76.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on DTE shares. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Guggenheim upped their target price on shares of DTE Energy from $139.00 to $147.00 and gave the stock a “buy” rating in a research note on Friday. BMO Capital Markets increased their price target on shares of DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. KeyCorp lowered shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Finally, Scotiabank increased their target price on DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research note on Thursday, December 12th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, DTE Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.58.

Insider Buying and Selling at DTE Energy

In other news, 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 value 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 $446,535.04. This represents a 22.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Joann Chavez sold 7,062 shares of the firm’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 14,067 shares in the company, valued at approximately $1,862,470.80. This represents a 33.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,877 shares of company stock valued at $1,559,205. Insiders own 0.61% of the company’s stock.

DTE Energy Price Performance

NYSE DTE opened at $136.03 on Tuesday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46. DTE Energy has a 1-year low of $103.06 and a 1-year high of $138.22. The stock has a market capitalization of $28.23 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 2.41 and a beta of 0.59. The business’s fifty day moving average price is $127.74 and its 200-day moving average price is $124.95.

DTE Energy (NYSE:DTE) last posted its 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%. On average, equities analysts predict that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Announces Dividend

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 given a dividend of $1.09 per share. The ex-dividend date is Monday, March 17th. This represents a $4.36 annualized dividend and a yield of 3.21%. DTE Energy’s dividend payout ratio (DPR) is 64.40%.

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.