Calamos Advisors LLC Reduces Stock Position in DTE Energy (NYSE:DTE)

Calamos Advisors LLC cut its stake in DTE Energy (NYSE:DTE) by 0.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 180,387 shares of the utilities provider’s stock after selling 250 shares during the quarter. Calamos Advisors LLC’s holdings in DTE Energy were worth $19,889,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. MV Capital Management Inc. increased its holdings in DTE Energy by 104.4% in the fourth quarter. MV Capital Management Inc. now owns 280 shares of the utilities provider’s stock valued at $31,000 after buying an additional 143 shares in the last quarter. Milestone Investment Advisors LLC purchased a new position in shares of DTE Energy during the 3rd quarter worth approximately $36,000. Compagnie Lombard Odier SCmA purchased a new position in shares of DTE Energy during the 3rd quarter worth approximately $37,000. Authentikos Wealth Advisory LLC purchased a new position in shares of DTE Energy during the 3rd quarter worth approximately $43,000. Finally, Horizon Bancorp Inc. IN purchased a new position in shares of DTE Energy during the 3rd quarter worth approximately $54,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Guggenheim cut shares of DTE Energy from a “buy” rating to a “neutral” rating and set a $111.00 price objective for the company. in a research note on Monday, January 22nd. Wolfe Research lowered shares of DTE Energy from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, January 16th. Barclays raised their target price on shares of DTE Energy from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Monday. JPMorgan Chase & Co. raised their target price on shares of DTE Energy from $118.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 13th. Finally, TheStreet upgraded shares of DTE Energy from a “c+” rating to a “b-” rating in a research report on Friday, March 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, DTE Energy has an average rating of “Hold” and a consensus price target of $114.56.

Insider Activity

In other DTE Energy news, COO Robert A. Richard sold 4,800 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $107.25, for a total transaction of $514,800.00. Following the completion of the transaction, the chief operating officer now directly owns 26,118 shares of the company’s stock, valued at approximately $2,801,155.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other DTE Energy news, COO Robert A. Richard sold 4,800 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $107.25, for a total transaction of $514,800.00. Following the completion of the transaction, the chief operating officer now directly owns 26,118 shares of the company’s stock, valued at approximately $2,801,155.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Matthew T. Paul sold 5,850 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $106.92, for a total transaction of $625,482.00. Following the transaction, the chief operating officer now directly owns 6,951 shares of the company’s stock, valued at $743,200.92. The disclosure for this sale can be found here. In the last three months, insiders sold 20,095 shares of company stock valued at $2,168,183. Company insiders own 0.61% of the company’s stock.

DTE Energy Stock Performance

Shares of NYSE DTE traded up $0.73 during midday trading on Friday, hitting $107.21. The company’s stock had a trading volume of 70,969 shares, compared to its average volume of 1,181,350. DTE Energy has a 1-year low of $90.14 and a 1-year high of $116.73. The firm’s fifty day moving average price is $108.66 and its 200-day moving average price is $105.56. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.42 and a current ratio of 0.60. The firm has a market cap of $22.18 billion, a P/E ratio of 15.75, a P/E/G ratio of 2.62 and a beta of 0.64.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Thursday, February 8th. The utilities provider reported $1.97 EPS for the quarter, beating the consensus estimate of $1.96 by $0.01. DTE Energy had a net margin of 10.96% and a return on equity of 11.00%. The business had revenue of $3.39 billion during the quarter, compared to analyst estimates of $4.97 billion. During the same period in the previous year, the business posted $1.31 EPS. On average, sell-side analysts forecast that DTE Energy will post 6.7 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, March 18th were issued a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 3.81%. The ex-dividend date was Friday, March 15th. DTE Energy’s dividend payout ratio (DPR) is presently 60.36%.

DTE Energy Company 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.