HB Wealth Management LLC Acquires New Stake in DTE Energy (NYSE:DTE)

HB Wealth Management LLC acquired a new stake in shares of DTE Energy (NYSE:DTE) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,654 shares of the utilities provider’s stock, valued at approximately $293,000.

Other hedge funds also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its position in DTE Energy by 180.3% during the second quarter. Farther Finance Advisors LLC now owns 328 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 211 shares during the last quarter. Milestone Investment Advisors LLC purchased a new stake in DTE Energy during the third quarter valued at $36,000. Compagnie Lombard Odier SCmA purchased a new stake in DTE Energy during the third quarter valued at $37,000. Householder Group Estate & Retirement Specialist LLC purchased a new stake in DTE Energy during the third quarter valued at $41,000. Finally, Authentikos Wealth Advisory LLC purchased a new stake in DTE Energy during the third quarter valued at $43,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Performance

NYSE DTE opened at $112.07 on Friday. The business has a 50-day moving average price of $107.41 and a 200-day moving average price of $105.11. DTE Energy has a twelve month low of $90.14 and a twelve month high of $116.73. The firm has a market cap of $23.19 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 2.66 and a beta of 0.64. The company has a quick ratio of 0.42, a current ratio of 0.60 and a debt-to-equity ratio of 1.58.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Thursday, February 8th. The utilities provider reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.01. DTE Energy had a return on equity of 11.00% and a net margin of 10.96%. The company had revenue of $3.39 billion during the quarter, compared to analyst estimates of $4.97 billion. During the same period in the prior year, the company earned $1.31 earnings per share. As a group, equities research analysts predict that DTE Energy will post 6.7 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Monday, March 18th will be paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Friday, March 15th. DTE Energy’s payout ratio is presently 60.36%.

Insider Activity at DTE Energy

In other DTE Energy news, COO Matthew T. Paul sold 5,850 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $106.92, for a total transaction of $625,482.00. Following the sale, the chief operating officer now directly owns 6,951 shares in the company, valued at $743,200.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other DTE Energy news, SVP Joann Chavez sold 6,070 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $109.19, for a total transaction of $662,783.30. Following the sale, the senior vice president now directly owns 16,667 shares in the company, valued at $1,819,869.73. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Matthew T. Paul sold 5,850 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $106.92, for a total value of $625,482.00. Following the sale, the chief operating officer now owns 6,951 shares in the company, valued at $743,200.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,095 shares of company stock valued at $2,168,183. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on DTE shares. TheStreet raised DTE Energy from a “c+” rating to a “b-” rating in a report on Friday, March 15th. KeyCorp boosted their price target on DTE Energy from $106.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, January 4th. Barclays cut their price target on DTE Energy from $113.00 to $112.00 and set an “overweight” rating for the company in a report on Tuesday, February 13th. Guggenheim lowered DTE Energy from a “buy” rating to a “neutral” rating and set a $111.00 price target for the company. in a report on Monday, January 22nd. Finally, JPMorgan Chase & Co. boosted their price target on DTE Energy from $118.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, DTE Energy presently has a consensus rating of “Hold” and a consensus target price of $114.00.

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.