Thrivent Financial for Lutherans Trims Stock Position in DTE Energy (NYSE:DTE)

Thrivent Financial for Lutherans cut its holdings in DTE Energy (NYSE:DTE) by 25.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,049 shares of the utilities provider’s stock after selling 21,819 shares during the quarter. Thrivent Financial for Lutherans’ holdings in DTE Energy were worth $7,733,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in DTE Energy during the 3rd quarter valued at $30,000. Versant Capital Management Inc boosted its stake in shares of DTE Energy by 890.0% during the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 267 shares during the last quarter. Robbins Farley purchased a new stake in DTE Energy during the 4th quarter worth about $57,000. Kestra Investment Management LLC acquired a new position in DTE Energy in the 4th quarter valued at about $57,000. Finally, Brooklyn Investment Group purchased a new position in DTE Energy in the 3rd quarter valued at about $83,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Joann Chavez sold 7,062 shares of the firm’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 completion of the sale, the senior vice president now directly owns 14,067 shares of the company’s stock, valued at approximately $1,862,470.80. This trade represents a 33.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Tracy J. Myrick sold 1,014 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total transaction of $131,738.88. Following the completion of the transaction, the chief accounting officer now owns 3,437 shares in the company, valued at $446,535.04. This represents a 22.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,877 shares of company stock worth $1,559,205. 0.61% of the stock is currently owned by corporate insiders.

DTE Energy Stock Up 0.2 %

DTE opened at $137.18 on Monday. DTE Energy has a 1 year low of $103.06 and a 1 year high of $138.22. The firm has a 50 day moving average price of $127.38 and a 200 day moving average price of $124.86. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71. The company has a market cap of $28.47 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59.

DTE Energy (NYSE:DTE) last released its quarterly earnings data 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%. Sell-side analysts expect that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Announces Dividend

The business 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. This represents a $4.36 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s payout ratio is 64.40%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on DTE shares. Morgan Stanley lifted their price target on shares of DTE Energy from $131.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday. Guggenheim boosted their price target on DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a report on Friday. KeyCorp lowered DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. BMO Capital Markets lifted their price objective on DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Finally, Barclays downgraded DTE Energy from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $137.00 to $135.00 in a research report on Thursday, February 20th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $138.58.

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.