Beacon Pointe Wealth Advisors LLC acquired a new stake in DTE Energy Co (NYSE:DTE) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 2,666 shares of the utilities provider’s stock, valued at approximately $294,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DTE. Pacer Advisors Inc. increased its holdings in shares of DTE Energy by 14.2% in the third quarter. Pacer Advisors Inc. now owns 9,375 shares of the utilities provider’s stock worth $1,023,000 after acquiring an additional 1,169 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. bought a new stake in shares of DTE Energy in the third quarter worth about $1,781,000. W.E. Donoghue & Co. LLC bought a new stake in shares of DTE Energy in the third quarter worth about $2,549,000. Oakbrook Investments LLC increased its holdings in shares of DTE Energy by 38.5% in the third quarter. Oakbrook Investments LLC now owns 10,428 shares of the utilities provider’s stock worth $1,138,000 after acquiring an additional 2,900 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of DTE Energy by 69.7% in the third quarter. Morgan Stanley now owns 771,744 shares of the utilities provider’s stock worth $84,221,000 after acquiring an additional 316,990 shares in the last quarter. Institutional investors and hedge funds own 73.09% of the company’s stock.
NYSE:DTE opened at $117.30 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.47 and a debt-to-equity ratio of 1.27. The stock has a market cap of $21.35 billion, a P/E ratio of 20.98, a PEG ratio of 3.16 and a beta of 0.27. DTE Energy Co has a 52-week low of $94.25 and a 52-week high of $121.00.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Monday, March 18th will be issued a dividend of $0.945 per share. The ex-dividend date of this dividend is Friday, March 15th. This represents a $3.78 dividend on an annualized basis and a dividend yield of 3.22%. DTE Energy’s payout ratio is presently 67.62%.
DTE has been the subject of several recent analyst reports. Wells Fargo & Co increased their price target on DTE Energy from $118.00 to $120.00 and gave the stock a “market perform” rating in a report on Thursday, October 25th. ValuEngine upgraded DTE Energy from a “hold” rating to a “buy” rating in a report on Friday, December 21st. Credit Suisse Group downgraded DTE Energy from a “neutral” rating to an “underperform” rating and increased their price target for the stock from $109.00 to $111.00 in a report on Thursday, October 25th. Zacks Investment Research downgraded DTE Energy from a “buy” rating to a “hold” rating in a report on Friday, January 25th. Finally, Wolfe Research downgraded DTE Energy from an “outperform” rating to a “hold” rating in a report on Friday, October 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $116.73.
In related news, CAO Jeffrey A. Jewell sold 4,190 shares of the stock in a transaction dated Tuesday, November 20th. The stock was sold at an average price of $120.00, for a total transaction of $502,800.00. Following the completion of the transaction, the chief accounting officer now directly owns 11,738 shares in the company, valued at $1,408,560. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Peter B. Oleksiak sold 1,850 shares of the stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $118.67, for a total value of $219,539.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,040 shares of company stock valued at $1,919,640. 0.59% of the stock is owned by corporate insiders.
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About DTE Energy
DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.2 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.
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