RWC Asset Management LLP Invests $8.96 Million in DTE Energy (NYSE:DTE)

RWC Asset Management LLP purchased a new stake in DTE Energy (NYSE:DTE) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 74,211 shares of the utilities provider’s stock, valued at approximately $8,961,000.

Several other institutional investors also recently bought and sold shares of DTE. Legacy Investment Solutions LLC purchased a new position in shares of DTE Energy in the third quarter valued at approximately $30,000. Prospera Private Wealth LLC acquired a new stake in DTE Energy during the 3rd quarter worth $35,000. Ashton Thomas Securities LLC purchased a new stake in shares of DTE Energy during the third quarter worth $35,000. Versant Capital Management Inc raised its position in shares of 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 buying an additional 267 shares during the last quarter. Finally, Coastline Trust Co purchased a new position in shares of DTE Energy in the third quarter worth about $39,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at DTE Energy

In other DTE Energy news, CAO Tracy J. Myrick sold 1,014 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total value of $131,738.88. Following the sale, the chief accounting officer now owns 3,437 shares of the company’s stock, valued at $446,535.04. This trade represents a 22.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Matthew T. Paul sold 3,801 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $129.56, for a total value of $492,457.56. Following the transaction, the chief operating officer now directly owns 6,951 shares of the company’s stock, valued at approximately $900,571.56. This represents a 35.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by corporate insiders.

DTE Energy Price Performance

Shares of DTE opened at $131.98 on Monday. The firm has a 50-day simple moving average of $122.15 and a two-hundred day simple moving average of $123.41. The stock has a market cap of $27.35 billion, a PE ratio of 19.49, a P/E/G ratio of 2.41 and a beta of 0.68. DTE Energy has a 1-year low of $103.06 and a 1-year high of $132.88. 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 (NYSE:DTE) last posted its earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share 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 forecast that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 3.30%. The ex-dividend date is Monday, March 17th. DTE Energy’s payout ratio is currently 64.40%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DTE. Morgan Stanley dropped their price objective on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. BMO Capital Markets upped their price target on DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Barclays lowered DTE Energy from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $137.00 to $135.00 in a research note on Thursday. UBS Group raised DTE Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Finally, StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, DTE Energy currently has an average rating of “Moderate Buy” and an average target price of $135.67.

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.