Horizon Investments LLC Grows Stock Holdings in DTE Energy (NYSE:DTE)

Horizon Investments LLC boosted its holdings in DTE Energy (NYSE:DTE) by 2.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 9,174 shares of the utilities provider’s stock after buying an additional 182 shares during the period. Horizon Investments LLC’s holdings in DTE Energy were worth $1,108,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of DTE. State Street Corp grew its position in shares of DTE Energy by 7.0% during the third quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock worth $1,319,264,000 after purchasing an additional 662,569 shares in the last quarter. Zimmer Partners LP bought a new position in DTE Energy in the 3rd quarter worth approximately $69,894,000. Point72 Asset Management L.P. bought a new position in DTE Energy in the 3rd quarter worth approximately $66,733,000. Raymond James Financial Inc. bought a new stake in shares of DTE Energy during the fourth quarter valued at approximately $43,063,000. Finally, Nordea Investment Management AB lifted its holdings in shares of DTE Energy by 2,235.2% in the fourth quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider’s stock worth $26,706,000 after buying an additional 211,763 shares in the last quarter. 76.06% of the stock is owned by institutional investors.

DTE Energy Stock Up 0.7 %

Shares of DTE opened at $136.29 on Thursday. 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 business has a fifty day moving average of $126.71 and a 200 day moving average of $124.70. The company has a market cap of $28.24 billion, a PE ratio of 20.13, a P/E/G ratio of 2.41 and a beta of 0.59. DTE Energy has a 52-week low of $103.06 and a 52-week high of $136.76.

DTE Energy (NYSE:DTE) last released its earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate 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 expect that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

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

Analyst Upgrades and Downgrades

DTE has been the subject of several research analyst reports. KeyCorp cut shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. 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. Guggenheim raised DTE Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Barclays downgraded DTE Energy from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $137.00 to $135.00 in a research note on Thursday, February 20th. Finally, Morgan Stanley lowered their target price 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. Five research 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 $137.09.

Insider Transactions at DTE Energy

In other DTE Energy news, CAO Tracy J. Myrick sold 1,014 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total value of $131,738.88. Following the transaction, the chief accounting officer now directly owns 3,437 shares in the company, valued at $446,535.04. This represents a 22.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Joann Chavez sold 7,062 shares of DTE Energy stock in a transaction that occurred 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 $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. 0.61% of the stock is currently owned by company insiders.

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.