DTE Energy (NYSE:DTE) Position Raised by Alliancebernstein L.P.

Alliancebernstein L.P. raised its position in shares of DTE Energy (NYSE:DTE) by 6.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 301,805 shares of the utilities provider’s stock after purchasing an additional 17,953 shares during the quarter. Alliancebernstein L.P.’s holdings in DTE Energy were worth $36,443,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. SkyOak Wealth LLC lifted its holdings in shares of DTE Energy by 4.1% in the fourth quarter. SkyOak Wealth LLC now owns 2,174 shares of the utilities provider’s stock valued at $262,000 after buying an additional 85 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in DTE Energy by 8.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,205 shares of the utilities provider’s stock valued at $146,000 after acquiring an additional 90 shares during the last quarter. Stratos Wealth Partners LTD. boosted its position in shares of DTE Energy by 4.5% during the 4th quarter. Stratos Wealth Partners LTD. now owns 2,139 shares of the utilities provider’s stock valued at $258,000 after purchasing an additional 92 shares in the last quarter. Tidal Investments LLC grew its stake in shares of DTE Energy by 4.0% in the 3rd quarter. Tidal Investments LLC now owns 2,490 shares of the utilities provider’s stock worth $320,000 after purchasing an additional 96 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its holdings in shares of DTE Energy by 2.3% in the 4th quarter. Bleakley Financial Group LLC now owns 4,345 shares of the utilities provider’s stock worth $525,000 after purchasing an additional 96 shares in the last quarter. 76.06% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Stock Performance

Shares of DTE opened at $131.85 on Friday. The company has a market capitalization of $27.36 billion, a PE ratio of 19.47, a PEG ratio of 2.41 and a beta of 0.49. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71. The company’s 50 day moving average price is $130.43 and its 200 day moving average price is $125.66. DTE Energy has a 52 week low of $103.06 and a 52 week high of $140.39.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 EPS 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%. Research analysts expect that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a dividend of $1.09 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $4.36 annualized dividend and a dividend yield of 3.31%. DTE Energy’s dividend payout ratio is 64.40%.

Analysts Set New Price Targets

DTE has been the subject of a number of research reports. BMO Capital Markets raised their target price on shares of DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. Barclays lowered DTE Energy from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $137.00 to $135.00 in a research note on Thursday, February 20th. Scotiabank lifted their target price on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a report on Thursday, December 12th. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Finally, Guggenheim boosted their price objective on DTE Energy from $139.00 to $147.00 and gave the stock a “buy” rating in a report on Friday, March 21st. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $138.58.

Insider Activity at DTE Energy

In related news, CAO Tracy J. Myrick sold 1,014 shares of DTE Energy 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 completion of the sale, the chief accounting officer now owns 3,437 shares of the company’s stock, valued at approximately $446,535.04. The trade was a 22.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Joann Chavez sold 7,062 shares of the 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 directly owns 14,067 shares in the company, valued at $1,862,470.80. The trade was a 33.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,877 shares of company stock valued at $1,559,205. 0.33% of the stock is owned by corporate 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.