Perigon Wealth Management LLC Increases Position in DTE Energy (NYSE:DTE)

Perigon Wealth Management LLC grew its holdings in DTE Energy (NYSE:DTE) by 13.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 8,112 shares of the utilities provider’s stock after buying an additional 945 shares during the period. Perigon Wealth Management LLC’s holdings in DTE Energy were worth $894,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in DTE. Vanguard Group Inc. increased its stake in shares of DTE Energy by 6.6% during the first quarter. Vanguard Group Inc. now owns 23,028,699 shares of the utilities provider’s stock worth $3,044,624,000 after acquiring an additional 1,420,586 shares during the period. State Street Corp increased its stake in shares of DTE Energy by 2.6% during the first quarter. State Street Corp now owns 9,707,687 shares of the utilities provider’s stock worth $1,291,854,000 after acquiring an additional 245,923 shares during the period. Ameriprise Financial Inc. increased its stake in shares of DTE Energy by 16.4% during the third quarter. Ameriprise Financial Inc. now owns 5,130,348 shares of the utilities provider’s stock worth $509,081,000 after acquiring an additional 724,561 shares during the period. Geode Capital Management LLC increased its stake in shares of DTE Energy by 2.0% during the first quarter. Geode Capital Management LLC now owns 3,999,746 shares of the utilities provider’s stock worth $437,132,000 after acquiring an additional 78,630 shares during the period. Finally, Millennium Management LLC increased its stake in shares of DTE Energy by 224.8% during the fourth quarter. Millennium Management LLC now owns 2,379,882 shares of the utilities provider’s stock worth $279,708,000 after acquiring an additional 1,647,053 shares during the period. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Stock Up 0.1 %

DTE stock opened at $106.25 on Friday. The company’s 50 day simple moving average is $108.60 and its 200-day simple moving average is $105.44. The firm has a market capitalization of $21.99 billion, a PE ratio of 15.72, a P/E/G ratio of 2.64 and a beta of 0.64. DTE Energy has a 12 month low of $90.14 and a 12 month high of $116.73. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.60 and a quick ratio of 0.42.

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

DTE Energy Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 3.84%. The ex-dividend date is Friday, March 15th. DTE Energy’s payout ratio is 60.36%.

Analyst Ratings Changes

DTE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of DTE Energy from $118.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 13th. BMO Capital Markets dropped their price target on shares of DTE Energy from $113.00 to $111.00 and set a “market perform” rating on the stock in a research note on Monday, February 12th. Barclays lowered their target price on shares of DTE Energy from $113.00 to $112.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 13th. Morgan Stanley upped their target price on shares of DTE Energy from $108.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Finally, TheStreet upgraded shares of DTE Energy from a “c+” rating to a “b-” rating in a research report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $114.00.

Insider Activity at DTE Energy

In related news, CAO Tracy J. Myrick sold 600 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $107.04, for a total transaction of $64,224.00. Following the transaction, the chief accounting officer now owns 3,462 shares of the company’s stock, valued at $370,572.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Joann Chavez sold 6,070 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $109.19, for a total transaction of $662,783.30. Following the transaction, the senior vice president now owns 16,667 shares of the company’s stock, valued at $1,819,869.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Tracy J. Myrick sold 600 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $107.04, for a total transaction of $64,224.00. Following the transaction, the chief accounting officer now directly owns 3,462 shares in the company, valued at approximately $370,572.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,095 shares of company stock valued at $2,168,183. Company insiders own 0.61% of the company’s stock.

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.