Axxcess Wealth Management LLC Increases Position in DTE Energy (NYSE:DTE)

Axxcess Wealth Management LLC raised its position in DTE Energy (NYSE:DTE) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,365 shares of the utilities provider’s stock after purchasing an additional 517 shares during the quarter. Axxcess Wealth Management LLC’s holdings in DTE Energy were worth $1,372,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in DTE Energy in the third quarter valued at approximately $30,000. Prospera Private Wealth LLC purchased a new stake in DTE Energy in the third quarter valued at approximately $35,000. Versant Capital Management Inc raised its position in DTE Energy by 890.0% in the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 267 shares during the period. Robbins Farley purchased a new stake in shares of DTE Energy during the fourth quarter worth $57,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of DTE Energy during the fourth quarter worth $57,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Insider Transactions at DTE Energy

In other news, CAO Tracy J. Myrick sold 1,014 shares of the stock in a transaction dated 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 owns 3,437 shares in the company, valued at approximately $446,535.04. This represents a 22.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Matthew T. Paul sold 3,801 shares of the 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 sale, the chief operating officer now owns 6,951 shares of the company’s stock, valued at $900,571.56. This trade represents a 35.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,877 shares of company stock worth $1,559,205. Company insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on DTE shares. KeyCorp lowered DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Scotiabank upped their price objective on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. UBS Group raised DTE Energy from a “neutral” rating to a “buy” rating and increased their target price for the company from $129.00 to $143.00 in a report on Tuesday, December 3rd. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Finally, Guggenheim raised DTE Energy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $137.09.

DTE Energy Stock Performance

NYSE DTE opened at $136.29 on Thursday. 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 $136.76. The company has a market capitalization of $28.24 billion, a PE ratio of 20.13, a P/E/G ratio of 2.41 and a beta of 0.59. The company has a fifty day moving average of $126.71 and a two-hundred day moving average of $124.70.

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

DTE Energy Dividend Announcement

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 paid a $1.09 dividend. The ex-dividend date is Monday, March 17th. This represents a $4.36 annualized dividend and a yield of 3.20%. DTE Energy’s dividend payout ratio is presently 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.