New York Life Investment Management LLC Sells 219 Shares of DTE Energy (NYSE:DTE)

New York Life Investment Management LLC decreased its stake in shares of DTE Energy (NYSE:DTE) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,061 shares of the utilities provider’s stock after selling 219 shares during the quarter. New York Life Investment Management LLC’s holdings in DTE Energy were worth $3,204,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. MV Capital Management Inc. boosted its holdings in shares of DTE Energy by 104.4% in the fourth quarter. MV Capital Management Inc. now owns 280 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 143 shares during the period. Milestone Investment Advisors LLC purchased a new stake in shares of DTE Energy in the 3rd quarter worth $36,000. Authentikos Wealth Advisory LLC bought a new position in shares of DTE Energy during the 3rd quarter worth $43,000. Cullen Frost Bankers Inc. increased its stake in shares of DTE Energy by 17.0% during the third quarter. Cullen Frost Bankers Inc. now owns 702 shares of the utilities provider’s stock valued at $70,000 after buying an additional 102 shares during the period. Finally, Hexagon Capital Partners LLC increased its stake in shares of DTE Energy by 533.6% during the fourth quarter. Hexagon Capital Partners LLC now owns 773 shares of the utilities provider’s stock valued at $85,000 after buying an additional 651 shares during the period. 76.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on DTE shares. Wolfe Research cut shares of DTE Energy from an “outperform” rating to a “peer perform” rating in a report on Tuesday, January 16th. Morgan Stanley boosted their target price on shares of DTE Energy from $108.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Barclays lifted their price objective on shares of DTE Energy from $115.00 to $119.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. BMO Capital Markets increased their target price on shares of DTE Energy from $111.00 to $113.00 and gave the company a “market perform” rating in a research report on Wednesday, April 17th. Finally, Scotiabank lowered their target price on shares of DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating for the company in a research note on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, DTE Energy presently has an average rating of “Moderate Buy” and a consensus price target of $115.50.

DTE Energy Price Performance

NYSE DTE opened at $112.75 on Friday. The stock’s fifty day moving average price is $109.49 and its 200 day moving average price is $106.63. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.75 and a quick ratio of 0.54. The company has a market cap of $23.33 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 2.81 and a beta of 0.64. DTE Energy has a 1 year low of $90.14 and a 1 year high of $116.73.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.67 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.04). The business had revenue of $3.24 billion for 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 11.53%. As a group, equities research analysts forecast that DTE Energy will post 6.69 earnings per share for the current year.

DTE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 17th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 3.62%. The ex-dividend date is Monday, June 17th. DTE Energy’s dividend payout ratio is currently 66.78%.

Insider Transactions at DTE Energy

In related news, 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 value 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 approximately $370,572.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other DTE Energy news, CAO Tracy J. Myrick sold 600 shares of DTE Energy stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $107.04, for a total value of $64,224.00. Following the completion of the transaction, the chief accounting officer now owns 3,462 shares of the company’s stock, valued at $370,572.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Robert A. Richard sold 4,800 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $107.25, for a total transaction of $514,800.00. Following the sale, the chief operating officer now directly owns 26,118 shares in the company, valued at $2,801,155.50. The disclosure for this sale can be found here. Insiders have sold 20,095 shares of company stock valued at $2,168,183 in the last 90 days. 0.61% of the stock is currently owned by company 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.