Joann Chavez Sells 7,062 Shares of DTE Energy (NYSE:DTE) Stock

DTE Energy (NYSE:DTE) SVP Joann Chavez sold 7,062 shares of the business’s stock in a transaction 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 sale, the senior vice president now directly owns 14,067 shares of the company’s stock, valued at approximately $1,862,470.80. The trade was a 33.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

DTE Energy Stock Up 0.8 %

NYSE:DTE traded up $1.00 during midday trading on Tuesday, reaching $133.38. The company had a trading volume of 388,282 shares, compared to its average volume of 1,153,841. The stock’s fifty day simple moving average is $122.37 and its 200-day simple moving average is $123.50. 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 has a 12-month low of $103.06 and a 12-month high of $133.45. The firm has a market capitalization of $27.64 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 2.41 and a beta of 0.68.

DTE Energy (NYSE:DTE) last posted its earnings results 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%. On average, sell-side analysts anticipate that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The firm also recently declared 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 3.27%. DTE Energy’s dividend payout ratio is presently 64.40%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DTE. UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $129.00 to $143.00 in a research report on Tuesday, December 3rd. KeyCorp cut shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. BMO Capital Markets lifted their price target on shares of DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Guggenheim raised shares of DTE Energy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, Barclays downgraded DTE Energy from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $137.00 to $135.00 in a research report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, DTE Energy currently has an average rating of “Moderate Buy” and a consensus price target of $135.67.

Institutional Investors Weigh In On DTE Energy

Hedge funds have recently modified their holdings of the stock. Legacy Investment Solutions LLC purchased a new position in DTE Energy during the third quarter worth approximately $30,000. Ashton Thomas Securities LLC acquired a new stake in DTE Energy during the 3rd quarter valued at approximately $35,000. Prospera Private Wealth LLC acquired a new stake in shares of DTE Energy during the third quarter worth $35,000. 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. Finally, Coastline Trust Co acquired a new stake in shares of DTE Energy in the 3rd quarter worth about $39,000. 76.06% of the stock is owned by institutional investors and hedge funds.

About DTE Energy

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.