Bank of New York Mellon Corp Has $167.16 Million Stock Holdings in DTE Energy (NYSE:DTE)

Bank of New York Mellon Corp reduced its position in shares of DTE Energy (NYSE:DTE) by 3.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,384,335 shares of the utilities provider’s stock after selling 52,895 shares during the period. Bank of New York Mellon Corp’s holdings in DTE Energy were worth $167,158,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in DTE Energy during the 3rd quarter worth approximately $30,000. Prospera Private Wealth LLC acquired a new position in shares of DTE Energy during the third quarter worth $35,000. Ashton Thomas Securities LLC bought a new stake in shares of DTE Energy in the third quarter worth $35,000. Versant Capital Management Inc increased its holdings 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. Finally, Coastline Trust Co bought a new position in DTE Energy during the 3rd quarter worth $39,000. Institutional investors and hedge funds own 76.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on DTE shares. Guggenheim raised DTE Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Morgan Stanley decreased their target price on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Scotiabank boosted their price target on shares of DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. Barclays cut shares of DTE Energy from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $137.00 to $135.00 in a research report on Thursday, February 20th. Finally, UBS Group upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $129.00 to $143.00 in a report on Tuesday, December 3rd. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $135.67.

Insider Activity at DTE Energy

In other DTE Energy news, CAO Tracy J. Myrick sold 1,014 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total value of $131,738.88. Following the transaction, the chief accounting officer now directly owns 3,437 shares of the company’s stock, valued at approximately $446,535.04. This trade represents a 22.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Matthew T. Paul sold 3,801 shares of DTE Energy stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total transaction of $492,457.56. Following the transaction, the chief operating officer now owns 6,951 shares of the company’s stock, valued at $900,571.56. This represents a 35.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,877 shares of company stock valued at $1,559,205. 0.61% of the stock is owned by company insiders.

DTE Energy Price Performance

Shares of NYSE DTE opened at $132.09 on Friday. The firm has a market capitalization of $27.37 billion, a P/E ratio of 19.51, a P/E/G ratio of 2.41 and a beta of 0.68. The firm’s 50-day moving average price is $123.20 and its 200-day moving average price is $123.71. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77. DTE Energy has a 1-year low of $103.06 and a 1-year high of $133.49.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. Equities research analysts anticipate that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

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

About DTE Energy

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.