Sequoia Financial Advisors LLC Buys 691 Shares of DTE Energy (NYSE:DTE)

Sequoia Financial Advisors LLC lifted its holdings in DTE Energy (NYSE:DTE) by 4.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,410 shares of the utilities provider’s stock after buying an additional 691 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in DTE Energy were worth $1,982,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in DTE. Assetmark Inc. raised its holdings in shares of DTE Energy by 10.6% in the third quarter. Assetmark Inc. now owns 3,154 shares of the utilities provider’s stock valued at $405,000 after buying an additional 301 shares during the last quarter. Atria Investments Inc raised its holdings in shares of DTE Energy by 23.9% in the third quarter. Atria Investments Inc now owns 11,060 shares of the utilities provider’s stock valued at $1,420,000 after buying an additional 2,137 shares during the last quarter. Harbour Investments Inc. raised its holdings in shares of DTE Energy by 65.3% in the third quarter. Harbour Investments Inc. now owns 3,835 shares of the utilities provider’s stock valued at $492,000 after buying an additional 1,515 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of DTE Energy by 4.8% in the third quarter. Oppenheimer Asset Management Inc. now owns 5,747 shares of the utilities provider’s stock valued at $738,000 after buying an additional 262 shares during the last quarter. Finally, Metis Global Partners LLC raised its holdings in shares of DTE Energy by 1.9% in the third quarter. Metis Global Partners LLC now owns 6,633 shares of the utilities provider’s stock valued at $852,000 after buying an additional 126 shares during the last quarter. 76.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on DTE. KeyCorp cut DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Morgan Stanley lowered their price objective on DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. BMO Capital Markets lifted their price objective on DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Finally, Scotiabank lifted their price objective on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.09.

DTE Energy Price Performance

DTE Energy stock opened at $135.42 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77. The business has a 50-day moving average of $125.78 and a 200-day moving average of $124.47. DTE Energy has a 1 year low of $103.06 and a 1 year high of $136.28. The firm has a market capitalization of $28.07 billion, a P/E ratio of 20.00, a PEG ratio of 2.41 and a beta of 0.59.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.01. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. On average, equities analysts anticipate that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 3.22%. DTE Energy’s dividend payout ratio is presently 64.40%.

Insider Activity at DTE Energy

In related news, CAO Tracy J. Myrick sold 1,014 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief accounting officer now directly owns 3,437 shares in the company, valued at approximately $446,535.04. The trade was a 22.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Joann Chavez sold 7,062 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $132.40, for a total value of $935,008.80. Following the completion of the transaction, the senior vice president now owns 14,067 shares of the company’s stock, valued at $1,862,470.80. This represents a 33.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,877 shares of company stock worth $1,559,205. 0.28% of the stock is owned by company insiders.

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.