Pictet Asset Management Holding SA Sells 251,457 Shares of DTE Energy (NYSE:DTE)

Pictet Asset Management Holding SA lowered its stake in shares of DTE Energy (NYSE:DTE) by 12.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,745,347 shares of the utilities provider’s stock after selling 251,457 shares during the quarter. Pictet Asset Management Holding SA’s holdings in DTE Energy were worth $210,751,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DTE. Legacy Investment Solutions LLC acquired a new stake in DTE Energy in the third quarter valued at approximately $30,000. Versant Capital Management Inc grew its stake in DTE Energy by 890.0% during the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock worth $36,000 after buying an additional 267 shares during the last quarter. Robbins Farley acquired a new position in DTE Energy during the 4th quarter valued at about $57,000. Kestra Investment Management LLC purchased a new stake in DTE Energy in the fourth quarter valued at about $57,000. Finally, Brooklyn Investment Group acquired a new stake in DTE Energy in the third quarter worth about $83,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Insiders Place Their Bets

In other news, COO Matthew T. Paul sold 3,801 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 in the company, valued at $900,571.56. This trade represents a 35.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Joann Chavez sold 7,062 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $132.40, for a total transaction of $935,008.80. Following the transaction, the senior vice president now owns 14,067 shares of the company’s stock, valued at $1,862,470.80. This represents a 33.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,877 shares of company stock worth $1,559,205. 0.33% of the stock is owned by corporate insiders.

DTE Energy Price Performance

NYSE:DTE opened at $136.47 on Friday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46. The company has a 50 day moving average price of $128.84 and a 200-day moving average price of $125.25. DTE Energy has a 1-year low of $103.06 and a 1-year high of $138.22. The firm has a market cap of $28.32 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59.

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

DTE Energy Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Monday, March 17th. This represents a $4.36 dividend on an annualized basis and a yield of 3.19%. DTE Energy’s payout ratio is 64.40%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on DTE. Guggenheim increased their price objective on shares of DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a research report on Friday, March 21st. Barclays cut shares of DTE Energy from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $137.00 to $135.00 in a report on Thursday, February 20th. BMO Capital Markets upped their target price 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. UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Finally, Scotiabank raised their price objective on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research note on Thursday, December 12th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, DTE Energy currently has an average rating of “Moderate Buy” and a consensus price target of $138.58.

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.