DTE Energy (NYSE:DTE) Stake Increased by American Century Companies Inc.

American Century Companies Inc. raised its stake in shares of DTE Energy (NYSE:DTE) by 162.2% during the fourth quarter, HoldingsChannel reports. The fund owned 135,750 shares of the utilities provider’s stock after acquiring an additional 83,969 shares during the quarter. American Century Companies Inc.’s holdings in DTE Energy were worth $16,392,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Legacy Investment Solutions LLC bought a new position in DTE Energy in the third quarter worth about $30,000. Versant Capital Management Inc lifted its holdings in shares of DTE Energy by 890.0% in the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 267 shares during the last quarter. Robbins Farley acquired a new position in DTE Energy during the 4th quarter valued at approximately $57,000. Kestra Investment Management LLC bought a new position in DTE Energy during the 4th quarter worth $57,000. Finally, AdvisorNet Financial Inc increased its position in DTE Energy by 81.5% in the fourth quarter. AdvisorNet Financial Inc now owns 697 shares of the utilities provider’s stock worth $84,000 after buying an additional 313 shares during the period. 76.06% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Stock Performance

DTE opened at $138.39 on Tuesday. The business has a fifty day simple moving average of $129.14 and a 200-day simple moving average of $125.35. The firm has a market cap of $28.72 billion, a PE ratio of 20.44, a P/E/G ratio of 2.41 and a beta of 0.59. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. DTE Energy has a fifty-two week low of $103.06 and a fifty-two week high of $139.05.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. As a group, equities analysts predict that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be given a $1.09 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $4.36 annualized dividend and a dividend yield of 3.15%. DTE Energy’s dividend payout ratio (DPR) is presently 64.40%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Barclays downgraded shares of DTE Energy from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $137.00 to $135.00 in a report on Thursday, February 20th. UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Morgan Stanley raised their price target on shares of DTE Energy from $131.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. KeyCorp cut DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Finally, StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $138.58.

Insider Activity at DTE Energy

In other DTE Energy news, CAO Tracy J. Myrick sold 1,014 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total value of $131,738.88. Following the completion of the sale, the chief accounting officer now owns 3,437 shares of the company’s stock, valued at $446,535.04. The trade was a 22.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Joann Chavez sold 7,062 shares of DTE Energy stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $132.40, for a total transaction of $935,008.80. Following the completion of the transaction, the senior vice president now directly owns 14,067 shares in the company, valued at approximately $1,862,470.80. This represents a 33.42 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,877 shares of company stock valued at $1,559,205. Company insiders own 0.33% 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.