RWC Asset Management LLP Invests $8.96 Million in DTE Energy (NYSE:DTE)

RWC Asset Management LLP acquired a new stake in shares of DTE Energy (NYSE:DTE) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 74,211 shares of the utilities provider’s stock, valued at approximately $8,961,000.

Other institutional investors also recently bought and sold shares of the company. Legacy Investment Solutions LLC bought a new stake in DTE Energy during the 3rd quarter valued at $30,000. Prospera Private Wealth LLC purchased a new stake in shares of DTE Energy during the 3rd quarter worth $35,000. Ashton Thomas Securities LLC bought a new stake in DTE Energy during the third quarter valued at about $35,000. Versant Capital Management Inc boosted its position in 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 purchasing an additional 267 shares in the last quarter. Finally, Coastline Trust Co purchased a new position in DTE Energy in the third quarter valued at about $39,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Stock Up 0.6 %

NYSE:DTE opened at $131.98 on Monday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46. The company’s fifty day moving average price is $122.15 and its 200-day moving average price is $123.41. DTE Energy has a 1-year low of $103.06 and a 1-year high of $132.88. The firm has a market capitalization of $27.35 billion, a P/E ratio of 19.49, a PEG ratio of 2.41 and a beta of 0.68.

DTE Energy (NYSE:DTE) last announced 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, equities research analysts anticipate that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be given a $1.09 dividend. The ex-dividend date is Monday, March 17th. This represents a $4.36 annualized dividend and a yield of 3.30%. DTE Energy’s dividend payout ratio is presently 64.40%.

Insider Activity

In related news, CAO Tracy J. Myrick sold 1,014 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $446,535.04. This trade represents a 22.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Matthew T. Paul sold 3,801 shares of DTE Energy stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total transaction of $492,457.56. Following the completion of the transaction, the chief operating officer now directly owns 6,951 shares of the company’s stock, valued at $900,571.56. The trade was a 35.35 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on DTE shares. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Friday. BMO Capital Markets lifted their price target 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. Morgan Stanley reduced their price target on DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Barclays downgraded DTE Energy from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $137.00 to $135.00 in a research note on Thursday. Finally, Guggenheim upgraded DTE Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, DTE Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.67.

About DTE Energy

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.