DTE Energy (NYSE:DTE) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its holdings in DTE Energy (NYSE:DTE) by 25.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,049 shares of the utilities provider’s stock after selling 21,819 shares during the quarter. Thrivent Financial for Lutherans’ holdings in DTE Energy were worth $7,733,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in DTE. Legacy Investment Solutions LLC bought a new position in shares of DTE Energy in the 3rd quarter worth about $30,000. Versant Capital Management Inc raised its stake in DTE Energy by 890.0% during the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 267 shares during the period. Robbins Farley bought a new position in DTE Energy in the fourth quarter worth about $57,000. Kestra Investment Management LLC bought a new position in DTE Energy in the fourth quarter worth about $57,000. Finally, Brooklyn Investment Group acquired a new position in DTE Energy in the third quarter valued at approximately $83,000. Institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Performance

Shares of DTE opened at $137.18 on Monday. The firm has a market capitalization of $28.47 billion, a PE ratio of 20.26, a P/E/G ratio of 2.41 and a beta of 0.59. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. The firm has a 50-day moving average price of $127.38 and a 200 day moving average price of $124.86. DTE Energy has a 52-week low of $103.06 and a 52-week high of $138.22.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (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%. On average, sell-side 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 declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be given a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Monday, March 17th. DTE Energy’s dividend payout ratio (DPR) is presently 64.40%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on DTE shares. BMO Capital Markets increased their price target on DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. KeyCorp lowered DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Barclays cut shares of DTE Energy from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $137.00 to $135.00 in a report on Thursday, February 20th. Finally, Morgan Stanley lifted their price objective on shares of DTE Energy from $131.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $138.58.

Insider Transactions at DTE Energy

In related news, SVP Joann Chavez sold 7,062 shares of DTE Energy stock in a transaction dated 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 of the company’s stock, valued at $1,862,470.80. The trade was a 33.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Matthew T. Paul sold 3,801 shares of the company’s 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 completion of the sale, the chief operating officer now directly owns 6,951 shares of the company’s stock, valued at $900,571.56. The trade was 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 have sold 11,877 shares of company stock valued at $1,559,205. Corporate insiders own 0.61% of the company’s stock.

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.