DTE Energy (NYSE:DTE) Shares Purchased by Merit Financial Group LLC

Merit Financial Group LLC raised its position in DTE Energy (NYSE:DTE) by 19.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,432 shares of the utilities provider’s stock after purchasing an additional 399 shares during the quarter. Merit Financial Group LLC’s holdings in DTE Energy were worth $268,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Ameriprise Financial Inc. lifted its holdings in DTE Energy by 16.4% in the third quarter. Ameriprise Financial Inc. now owns 5,130,348 shares of the utilities provider’s stock valued at $509,081,000 after acquiring an additional 724,561 shares during the last quarter. Barclays PLC boosted its stake in DTE Energy by 29.2% during the third quarter. Barclays PLC now owns 670,592 shares of the utilities provider’s stock worth $66,577,000 after buying an additional 151,507 shares during the period. Invesco Ltd. boosted its stake in DTE Energy by 6.6% during the third quarter. Invesco Ltd. now owns 2,229,189 shares of the utilities provider’s stock worth $221,314,000 after buying an additional 137,960 shares during the period. ING Groep NV increased its position in shares of DTE Energy by 307.2% during the third quarter. ING Groep NV now owns 119,884 shares of the utilities provider’s stock valued at $11,902,000 after acquiring an additional 90,442 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of DTE Energy by 25.9% in the 3rd quarter. Canada Pension Plan Investment Board now owns 427,350 shares of the utilities provider’s stock valued at $42,427,000 after acquiring an additional 88,000 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on DTE. TheStreet raised shares of DTE Energy from a “c+” rating to a “b-” rating in a research report on Friday, March 15th. Wolfe Research cut DTE Energy from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 16th. Morgan Stanley boosted their price objective on DTE Energy from $108.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. BMO Capital Markets lifted their target price on 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, 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, DTE Energy presently has a consensus rating of “Moderate Buy” and an average price target of $115.50.

Insider Buying and Selling

In other DTE Energy news, COO Robert A. Richard sold 4,800 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $107.25, for a total value of $514,800.00. Following the transaction, the chief operating officer now directly owns 26,118 shares in the company, valued at $2,801,155.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other DTE Energy news, COO Robert A. Richard sold 4,800 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $107.25, for a total value of $514,800.00. Following the completion of the transaction, the chief operating officer now owns 26,118 shares in the company, valued at $2,801,155.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Tracy J. Myrick sold 600 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $107.04, for a total value 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. Insiders sold a total of 20,095 shares of company stock worth $2,168,183 over the last 90 days. 0.61% of the stock is owned by insiders.

DTE Energy Stock Up 1.2 %

DTE stock opened at $114.73 on Thursday. The company’s 50 day moving average price is $109.74 and its 200 day moving average price is $106.98. The firm has a market capitalization of $23.74 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 2.81 and a beta of 0.64. DTE Energy has a fifty-two week low of $90.14 and a fifty-two week high of $116.73. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.54 and a current ratio of 0.75.

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 analysts’ consensus estimates of $1.71 by ($0.04). DTE Energy had a net margin of 10.36% and a return on equity of 11.53%. The firm had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.81 billion. On average, equities research analysts anticipate that DTE Energy will post 6.69 EPS for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 17th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Monday, June 17th. DTE Energy’s payout ratio is 66.78%.

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.