Pictet Asset Management Holding SA Sells 251,457 Shares of DTE Energy (NYSE:DTE)

Pictet Asset Management Holding SA trimmed its position in shares of DTE Energy (NYSE:DTE) by 12.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,745,347 shares of the utilities provider’s stock after selling 251,457 shares during the period. Pictet Asset Management Holding SA owned 0.84% of DTE Energy worth $210,751,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Allworth Financial LP raised its holdings in DTE Energy by 16.0% during the fourth quarter. Allworth Financial LP now owns 2,438 shares of the utilities provider’s stock valued at $293,000 after acquiring an additional 336 shares during the period. Jones Financial Companies Lllp grew its position in shares of DTE Energy by 72.3% during the fourth quarter. Jones Financial Companies Lllp now owns 6,295 shares of the utilities provider’s stock worth $760,000 after purchasing an additional 2,642 shares in the last quarter. Nordea Investment Management AB raised its stake in DTE Energy by 2,235.2% during the 4th quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider’s stock valued at $26,706,000 after purchasing an additional 211,763 shares during the period. Patton Albertson Miller Group LLC lifted its holdings in DTE Energy by 7.6% in the 4th quarter. Patton Albertson Miller Group LLC now owns 46,931 shares of the utilities provider’s stock worth $5,667,000 after purchasing an additional 3,306 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in DTE Energy by 4.4% in the 4th quarter. M&T Bank Corp now owns 9,432 shares of the utilities provider’s stock worth $1,139,000 after purchasing an additional 395 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Insider Transactions at DTE Energy

In other news, SVP Joann Chavez sold 7,062 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $132.40, for a total value of $935,008.80. Following the transaction, the senior vice president now directly owns 14,067 shares in the company, valued at approximately $1,862,470.80. This represents a 33.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Tracy J. Myrick sold 1,014 shares of DTE Energy 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 sale, the chief accounting officer now owns 3,437 shares of the company’s stock, valued at $446,535.04. The trade was a 22.78 % 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. 0.33% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on DTE shares. KeyCorp cut shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Guggenheim increased their price objective on shares of DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a report on Friday, March 21st. BMO Capital Markets lifted their target price on DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. Finally, Morgan Stanley increased their price target on DTE Energy from $131.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.58.

DTE Energy Stock Up 0.9 %

Shares of DTE opened at $136.47 on Friday. 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 $128.84 and a 200 day moving average of $125.25. The company has a market cap of $28.32 billion, a PE ratio of 20.16, 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 $138.22.

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 of this dividend is Monday, March 17th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.19%. DTE Energy’s dividend payout ratio is 64.40%.

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.