Arvest Investments Inc. Trims Stake in DTE Energy (NYSE:DTE)

Arvest Investments Inc. lowered its stake in DTE Energy (NYSE:DTE) by 6.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,352 shares of the utilities provider’s stock after selling 1,224 shares during the quarter. Arvest Investments Inc.’s holdings in DTE Energy were worth $2,095,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Royal London Asset Management Ltd. lifted its stake in shares of DTE Energy by 457.9% during the 4th quarter. Royal London Asset Management Ltd. now owns 12,535 shares of the utilities provider’s stock worth $1,514,000 after purchasing an additional 10,288 shares during the period. Vinva Investment Management Ltd lifted its stake in shares of DTE Energy by 156.0% during the 4th quarter. Vinva Investment Management Ltd now owns 4,595 shares of the utilities provider’s stock worth $554,000 after purchasing an additional 2,800 shares during the period. Brooklyn FI LLC purchased a new position in shares of DTE Energy during the 4th quarter worth $1,145,000. Xponance Inc. lifted its stake in shares of DTE Energy by 100.4% during the 4th quarter. Xponance Inc. now owns 57,243 shares of the utilities provider’s stock worth $6,912,000 after purchasing an additional 28,679 shares during the period. Finally, Boston Partners lifted its stake in shares of DTE Energy by 25.1% during the 4th quarter. Boston Partners now owns 2,899,823 shares of the utilities provider’s stock worth $350,150,000 after purchasing an additional 582,643 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Up 0.7 %

Shares of NYSE DTE opened at $136.29 on Thursday. The stock has a fifty day moving average price of $126.71 and a 200 day moving average price of $124.70. 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 company has a market cap of $28.24 billion, a P/E ratio of 20.13, a P/E/G ratio of 2.41 and a beta of 0.59. DTE Energy has a 12-month low of $103.06 and a 12-month high of $136.76.

DTE Energy (NYSE:DTE) last announced its earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share 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%. Research analysts anticipate that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

The business 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 dividend of $1.09 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $4.36 annualized dividend and a dividend yield of 3.20%. DTE Energy’s payout ratio is 64.40%.

Insider Transactions at DTE Energy

In other news, CAO Tracy J. Myrick sold 1,014 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total transaction of $131,738.88. Following the transaction, the chief accounting officer now owns 3,437 shares of the company’s stock, valued at approximately $446,535.04. This trade represents a 22.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Matthew T. Paul sold 3,801 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $129.56, for a total transaction of $492,457.56. Following the transaction, the chief operating officer now directly owns 6,951 shares in the company, valued at $900,571.56. The trade was a 35.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,877 shares of company stock valued at $1,559,205. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DTE. Barclays lowered 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 note on Thursday, February 20th. Guggenheim raised DTE Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. BMO Capital Markets increased their price target on DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $129.00 to $143.00 in a report on Tuesday, December 3rd. Finally, KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.09.

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.