Commonwealth Equity Services LLC Has $9.51 Million Stock Holdings in DTE Energy (NYSE:DTE)

Commonwealth Equity Services LLC lowered its position in shares of DTE Energy (NYSE:DTE) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 78,758 shares of the utilities provider’s stock after selling 1,584 shares during the quarter. Commonwealth Equity Services LLC’s holdings in DTE Energy were worth $9,510,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Legacy Investment Solutions LLC bought a new stake in shares of DTE Energy in the third quarter worth $30,000. Prospera Private Wealth LLC acquired a new stake in DTE Energy in the 3rd quarter valued at $35,000. Versant Capital Management Inc lifted its position in DTE Energy by 890.0% during the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock worth $36,000 after buying an additional 267 shares in the last quarter. Robbins Farley acquired a new position in shares of DTE Energy during the 4th quarter worth about $57,000. Finally, Kestra Investment Management LLC bought a new position in shares of DTE Energy in the 4th quarter valued at about $57,000. 76.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Morgan Stanley dropped their target price on DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Barclays downgraded DTE Energy from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $137.00 to $135.00 in a report on Thursday, February 20th. BMO Capital Markets boosted their target price on shares of DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. Guggenheim upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, DTE Energy presently has an average rating of “Moderate Buy” and an average target price of $137.09.

DTE Energy Stock Up 0.7 %

DTE Energy stock opened at $136.29 on Thursday. The company’s 50-day moving average price is $126.71 and its two-hundred day moving average price is $124.70. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. The stock 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 twelve month low of $103.06 and a twelve 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, topping analysts’ consensus estimates of $1.50 by $0.01. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. As a group, analysts expect that DTE Energy will post 7.18 EPS for the current 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 dividend on an annualized basis and a dividend yield of 3.20%. DTE Energy’s payout ratio is presently 64.40%.

Insider Activity at DTE Energy

In related news, 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 value of $131,738.88. Following the transaction, the chief accounting officer now owns 3,437 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. Also, SVP Joann Chavez sold 7,062 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was 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 $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 three months, insiders have sold 11,877 shares of company stock worth $1,559,205. Corporate insiders own 0.61% of the company’s stock.

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.