Dahring Cusmano LLC Makes New Investment in DTE Energy (NYSE:DTE)

Dahring Cusmano LLC bought a new position in DTE Energy (NYSE:DTE) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,957 shares of the utilities provider’s stock, valued at approximately $236,000.

Other hedge funds have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in DTE Energy in the 3rd quarter worth about $30,000. Prospera Private Wealth LLC bought a new position in DTE Energy in the 3rd quarter worth about $35,000. Ashton Thomas Securities LLC bought a new position in DTE Energy in the 3rd quarter worth about $35,000. Versant Capital Management Inc grew its stake in 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 acquiring an additional 267 shares in the last quarter. Finally, Coastline Trust Co bought a new position in DTE Energy in the 3rd quarter worth about $39,000. 76.06% of the stock is currently owned by institutional investors.

DTE Energy Trading Up 0.6 %

NYSE DTE opened at $131.98 on Friday. The company has a fifty day simple moving average of $122.15 and a two-hundred day simple moving average of $123.36. The stock has a market cap of $27.35 billion, a P/E ratio of 19.49, a P/E/G ratio of 2.40 and a beta of 0.68. DTE Energy has a 12-month low of $103.06 and a 12-month high of $132.88. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping 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%. On average, analysts forecast that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be issued a $1.09 dividend. The ex-dividend date is Monday, March 17th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.30%. DTE Energy’s dividend payout ratio is currently 64.40%.

Insiders Place Their Bets

In related news, COO Matthew T. Paul sold 3,801 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total transaction of $492,457.56. Following the completion of the transaction, the chief operating officer now owns 6,951 shares of the company’s stock, valued at $900,571.56. This trade represents a 35.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Tracy J. Myrick sold 1,014 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total transaction of $131,738.88. Following the transaction, the chief accounting officer now directly owns 3,437 shares of the company’s stock, valued at approximately $446,535.04. This trade represents a 22.78 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. UBS Group upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Morgan Stanley dropped their price objective on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Scotiabank increased their price objective on shares of DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research note on Thursday, December 12th. Barclays downgraded shares of DTE Energy from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $137.00 to $135.00 in a research note on Thursday. Finally, StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $135.67.

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.