DTE Energy (NYSE:DTE) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its holdings in shares of DTE Energy (NYSE:DTE) by 9.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 198,318 shares of the utilities provider’s stock after selling 19,833 shares during the period. New York State Common Retirement Fund’s holdings in DTE Energy were worth $21,867,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DTE. MV Capital Management Inc. raised its holdings in shares of DTE Energy by 104.4% during the 4th quarter. MV Capital Management Inc. now owns 280 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 143 shares during the period. Milestone Investment Advisors LLC purchased a new stake in shares of DTE Energy in the third quarter valued at about $36,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of DTE Energy in the third quarter valued at about $37,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of DTE Energy in the third quarter valued at about $43,000. Finally, Horizon Bancorp Inc. IN purchased a new stake in shares of DTE Energy in the third quarter valued at about $54,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Trading Down 1.5 %

Shares of DTE stock opened at $109.52 on Friday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.42 and a current ratio of 0.60. The stock has a market capitalization of $22.66 billion, a P/E ratio of 17.92, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64. The company has a 50 day moving average price of $109.15 and a 200 day moving average price of $106.21. DTE Energy has a fifty-two week low of $90.14 and a fifty-two week high of $116.73.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.04). The business had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.81 billion. DTE Energy had a net margin of 10.36% and a return on equity of 11.63%. Equities research analysts predict that DTE Energy will post 6.69 EPS for the current fiscal year.

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, March 18th were given a dividend of $1.02 per share. The ex-dividend date of this dividend was Friday, March 15th. This represents a $4.08 annualized dividend and a dividend yield of 3.73%. DTE Energy’s dividend payout ratio is presently 66.78%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on DTE shares. Scotiabank dropped their price objective on shares of DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating for the company in a report on Monday, April 22nd. JPMorgan Chase & Co. upped their price objective on shares of DTE Energy from $118.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, March 13th. Wolfe Research lowered shares of DTE Energy from an “outperform” rating to a “peer perform” rating in a report on Tuesday, January 16th. Barclays increased their target price on shares of DTE Energy from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, Morgan Stanley increased their target price on shares of DTE Energy from $108.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.10.

Insider Transactions at DTE Energy

In other news, CAO Tracy J. Myrick sold 600 shares of the business’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 completion of the sale, the chief accounting officer now owns 3,462 shares in the company, valued at approximately $370,572.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other DTE Energy news, VP Lisa A. Muschong sold 2,775 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $108.43, for a total value of $300,893.25. Following the transaction, the vice president now directly owns 5,469 shares of the company’s stock, valued at approximately $593,003.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Tracy J. Myrick sold 600 shares of the business’s stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 3,462 shares in the company, valued at $370,572.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,095 shares of company stock worth $2,168,183. 0.61% of the stock is currently owned by insiders.

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.