Gilliland Jeter Wealth Management LLC Makes New Investment in DTE Energy (NYSE:DTE)

Gilliland Jeter Wealth Management LLC purchased a new stake in shares of DTE Energy (NYSE:DTE) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 22,425 shares of the utilities provider’s stock, valued at approximately $2,473,000. DTE Energy accounts for about 1.0% of Gilliland Jeter Wealth Management LLC’s investment portfolio, making the stock its 26th biggest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. MV Capital Management Inc. grew its holdings in DTE Energy by 104.4% during the fourth quarter. MV Capital Management Inc. now owns 280 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 143 shares during the period. Milestone Investment Advisors LLC bought a new stake in shares of DTE Energy in the 3rd quarter worth approximately $36,000. Compagnie Lombard Odier SCmA bought a new stake in shares of DTE Energy in the 3rd quarter worth approximately $37,000. Authentikos Wealth Advisory LLC acquired a new stake in DTE Energy during the third quarter valued at approximately $43,000. Finally, Horizon Bancorp Inc. IN bought a new stake in DTE Energy during the third quarter worth approximately $54,000. Institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Down 1.5 %

Shares of DTE Energy stock traded down $1.62 on Friday, hitting $109.52. 1,247,739 shares of the company traded hands, compared to its average volume of 1,158,886. DTE Energy has a 12-month low of $90.14 and a 12-month high of $116.73. The company has a quick ratio of 0.42, a current ratio of 0.60 and a debt-to-equity ratio of 1.58. The company has a market cap of $22.66 billion, a PE ratio of 17.92, a PEG ratio of 2.73 and a beta of 0.64. The company has a 50-day moving average price of $109.15 and a 200 day moving average price of $106.21.

DTE Energy (NYSE:DTE) last issued its earnings results on Thursday, April 25th. The utilities provider reported $1.67 EPS for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.04). DTE Energy had a net margin of 10.36% and a return on equity of 11.63%. The firm had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.81 billion. Sell-side analysts predict that DTE Energy will post 6.69 earnings per share for the current year.

DTE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, March 18th were given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend was Friday, March 15th. DTE Energy’s payout ratio is presently 66.78%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Scotiabank cut their price objective on DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating for the company in a research report on Monday, April 22nd. Guggenheim downgraded DTE Energy from a “buy” rating to a “neutral” rating and set a $111.00 target price for the company. in a report on Monday, January 22nd. Barclays lifted their price target on DTE Energy from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. KeyCorp upped their price objective on shares of DTE Energy from $106.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, January 4th. Finally, Wolfe Research downgraded shares of DTE Energy from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, DTE Energy presently has an average rating of “Moderate Buy” and an average target price of $115.10.

Insider Buying and Selling at DTE Energy

In other news, COO Robert A. Richard sold 4,800 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $107.25, for a total transaction of $514,800.00. Following the transaction, the chief operating officer now owns 26,118 shares in the company, valued at approximately $2,801,155.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Robert A. Richard sold 4,800 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $107.25, for a total transaction of $514,800.00. Following the completion of the sale, the chief operating officer now owns 26,118 shares in the company, valued at approximately $2,801,155.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Tracy J. Myrick sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $107.04, for a total value of $64,224.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,462 shares in the company, valued at $370,572.48. The disclosure for this sale can be found here. Insiders sold 20,095 shares of company stock worth $2,168,183 over the last ninety days. 0.61% of the stock is currently owned by insiders.

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.