Trexquant Investment LP Buys New Holdings in DTE Energy (NYSE:DTE)

Trexquant Investment LP purchased a new position in DTE Energy (NYSE:DTE) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 79,738 shares of the utilities provider’s stock, valued at approximately $9,628,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in shares of DTE Energy by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 4,920,971 shares of the utilities provider’s stock worth $592,642,000 after purchasing an additional 115,270 shares in the last quarter. Nemes Rush Group LLC raised its stake in DTE Energy by 34.1% in the fourth quarter. Nemes Rush Group LLC now owns 2,950 shares of the utilities provider’s stock valued at $356,000 after buying an additional 750 shares in the last quarter. HighPoint Advisor Group LLC lifted its holdings in DTE Energy by 2.3% during the 4th quarter. HighPoint Advisor Group LLC now owns 14,547 shares of the utilities provider’s stock worth $1,817,000 after buying an additional 325 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of DTE Energy by 6.3% during the 4th quarter. Alliancebernstein L.P. now owns 301,805 shares of the utilities provider’s stock worth $36,443,000 after acquiring an additional 17,953 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its holdings in shares of DTE Energy by 17.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 48,734 shares of the utilities provider’s stock valued at $5,885,000 after acquiring an additional 7,341 shares during the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

Insider Buying and Selling

In other news, SVP Joann Chavez sold 7,062 shares of the 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 completion of the transaction, the senior vice president now owns 14,067 shares in the company, valued at $1,862,470.80. This trade represents a 33.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Matthew T. Paul sold 3,801 shares of DTE Energy stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $129.56, for a total value of $492,457.56. Following the transaction, the chief operating officer now owns 6,951 shares of the company’s stock, valued at $900,571.56. This represents a 35.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,877 shares of company stock valued at $1,559,205 over the last ninety days. Corporate insiders own 0.33% of the company’s stock.

DTE Energy Stock Up 0.1 %

DTE Energy stock opened at $138.12 on Thursday. The stock has a market capitalization of $28.66 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 2.41 and a beta of 0.59. 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 stock has a 50 day moving average of $129.78 and a two-hundred day moving average of $125.53. DTE Energy has a twelve month low of $103.06 and a twelve month high of $139.05.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share for the quarter, topping 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%. As a group, research analysts expect that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Dividend Announcement

The company also recently declared 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 3.16%. DTE Energy’s dividend payout ratio (DPR) is 64.40%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DTE. Barclays cut DTE Energy from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $137.00 to $135.00 in a research note on Thursday, February 20th. Guggenheim upped their target price 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. Scotiabank lifted their price target on shares of DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research note on Thursday, December 12th. Morgan Stanley upped their price objective on shares of DTE Energy from $131.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Finally, KeyCorp cut DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.