Trexquant Investment LP Invests $9.63 Million in DTE Energy (NYSE:DTE)

Trexquant Investment LP bought a new position in DTE Energy (NYSE:DTE) during the 4th quarter, Holdings Channel reports. The institutional investor bought 79,738 shares of the utilities provider’s stock, valued at approximately $9,628,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SkyOak Wealth LLC raised its holdings in shares of DTE Energy by 4.1% in the 4th quarter. SkyOak Wealth LLC now owns 2,174 shares of the utilities provider’s stock worth $262,000 after purchasing an additional 85 shares during the period. EverSource Wealth Advisors LLC raised its holdings in DTE Energy by 8.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,205 shares of the utilities provider’s stock valued at $146,000 after buying an additional 90 shares during the period. Stratos Wealth Partners LTD. raised its holdings in DTE Energy by 4.5% in the fourth quarter. Stratos Wealth Partners LTD. now owns 2,139 shares of the utilities provider’s stock valued at $258,000 after buying an additional 92 shares during the period. Tidal Investments LLC lifted its position in DTE Energy by 4.0% during the third quarter. Tidal Investments LLC now owns 2,490 shares of the utilities provider’s stock valued at $320,000 after buying an additional 96 shares in the last quarter. Finally, Bleakley Financial Group LLC increased its position in shares of DTE Energy by 2.3% in the fourth quarter. Bleakley Financial Group LLC now owns 4,345 shares of the utilities provider’s stock worth $525,000 after acquiring an additional 96 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

Analyst Ratings Changes

DTE has been the topic of several recent research reports. Guggenheim lifted their target price on shares of DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a report on Friday, March 21st. KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Morgan Stanley raised their target price on DTE Energy from $131.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Scotiabank boosted their price target on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. Finally, BMO Capital Markets increased their price objective on shares of DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, DTE Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.58.

Insider Activity

In other news, 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 value of $492,457.56. Following the completion of the transaction, the chief operating officer now directly owns 6,951 shares of the company’s stock, valued at approximately $900,571.56. The trade was a 35.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Joann Chavez sold 7,062 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $132.40, for a total transaction of $935,008.80. Following the sale, the senior vice president now directly owns 14,067 shares of the company’s stock, valued at approximately $1,862,470.80. This represents a 33.42 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,877 shares of company stock worth $1,559,205. 0.33% of the stock is currently owned by insiders.

DTE Energy Trading Up 0.1 %

DTE opened at $138.12 on Thursday. DTE Energy has a 12-month low of $103.06 and a 12-month high of $139.05. 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 stock has a market capitalization of $28.66 billion, a PE ratio of 20.40, a P/E/G ratio of 2.41 and a beta of 0.59. The firm’s fifty day moving average price is $129.78 and its 200 day moving average price is $125.53.

DTE Energy (NYSE:DTE) last issued its earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) 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%. As a group, research analysts expect that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be given a $1.09 dividend. The ex-dividend date is Monday, March 17th. This represents a $4.36 annualized dividend and a dividend yield of 3.16%. DTE Energy’s payout ratio is 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.