DTE Energy (NYSE:DTE) Position Lifted by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC raised its stake in DTE Energy (NYSE:DTE) by 517.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 58,400 shares of the utilities provider’s stock after purchasing an additional 48,936 shares during the period. CIBC Private Wealth Group LLC’s holdings in DTE Energy were worth $7,067,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of DTE. Vanguard Group Inc. increased its holdings in DTE Energy by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 25,286,380 shares of the utilities provider’s stock valued at $3,053,330,000 after buying an additional 879,670 shares during the last quarter. State Street Corp grew its position in shares of DTE Energy by 7.0% in the 3rd quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock worth $1,319,264,000 after acquiring an additional 662,569 shares in the last quarter. Boston Partners increased its holdings in shares of DTE Energy by 25.1% in the 4th quarter. Boston Partners now owns 2,899,823 shares of the utilities provider’s stock valued at $350,150,000 after acquiring an additional 582,643 shares during the last quarter. Zimmer Partners LP acquired a new stake in shares of DTE Energy during the 3rd quarter valued at approximately $69,894,000. Finally, Point72 Asset Management L.P. bought a new position in DTE Energy during the third quarter worth $66,733,000. Institutional investors and hedge funds own 76.06% of the company’s stock.

Insiders Place Their Bets

In other DTE Energy 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 completion of the sale, the senior vice president now directly owns 14,067 shares of the company’s stock, valued at approximately $1,862,470.80. This represents a 33.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Matthew T. Paul sold 3,801 shares of the firm’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 owns 6,951 shares of the company’s stock, valued at approximately $900,571.56. This trade represents a 35.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,877 shares of company stock worth $1,559,205 over the last ninety days. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. 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 report on Thursday, December 12th. Guggenheim increased their price objective on shares of DTE Energy from $139.00 to $147.00 and gave the stock a “buy” rating in a research note on Friday, March 21st. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. BMO Capital Markets increased their price target on DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Finally, KeyCorp lowered DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $138.58.

DTE Energy Trading Down 0.2 %

Shares of DTE stock opened at $137.98 on Wednesday. The firm has a market capitalization of $28.63 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71. DTE Energy has a 1 year low of $103.06 and a 1 year high of $139.05. The stock has a fifty day moving average of $129.42 and a two-hundred day moving average of $125.44.

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

DTE Energy Dividend Announcement

The company 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 dividend of $1.09 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $4.36 annualized dividend and a yield of 3.16%. DTE Energy’s payout ratio is 64.40%.

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.