Tortoise Investment Management LLC Raises Position in DTE Energy (NYSE:DTE)

Tortoise Investment Management LLC increased its position in DTE Energy (NYSE:DTE) by 39.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,026 shares of the utilities provider’s stock after buying an additional 292 shares during the quarter. Tortoise Investment Management LLC’s holdings in DTE Energy were worth $124,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new position in shares of DTE Energy in the 3rd quarter worth $30,000. Ashton Thomas Securities LLC purchased a new position in shares of DTE Energy in the 3rd quarter worth $35,000. Prospera Private Wealth LLC purchased a new position in shares of DTE Energy in the 3rd quarter worth $35,000. Versant Capital Management Inc raised its position in shares of DTE Energy by 890.0% in the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock worth $36,000 after buying an additional 267 shares during the period. Finally, Coastline Trust Co purchased a new position in shares of DTE Energy in the 3rd quarter worth $39,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Stock Up 0.1 %

Shares of DTE Energy stock opened at $131.78 on Tuesday. The business has a 50-day moving average of $124.83 and a 200-day moving average of $124.23. 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 has a market capitalization of $27.31 billion, a PE ratio of 19.46, a P/E/G ratio of 2.41 and a beta of 0.59. DTE Energy has a 1-year low of $103.06 and a 1-year high of $136.28.

DTE Energy (NYSE:DTE) last announced its earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share for the quarter, beating 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 analysts forecast that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be given a dividend of $1.09 per share. The ex-dividend date is Monday, March 17th. This represents a $4.36 annualized dividend and a dividend yield of 3.31%. DTE Energy’s payout ratio is 64.40%.

Insider Transactions at DTE Energy

In other news, COO Matthew T. Paul sold 3,801 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total transaction of $492,457.56. Following the transaction, the chief operating officer now owns 6,951 shares of the company’s stock, valued at approximately $900,571.56. This trade represents a 35.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Tracy J. Myrick sold 1,014 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total transaction 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. The trade was a 22.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,877 shares of company stock valued at $1,559,205. Insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on DTE shares. Morgan Stanley cut their target price 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. KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. BMO Capital Markets increased their price target on DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Scotiabank increased their price target on DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a report on Thursday, December 12th. Finally, UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $129.00 to $143.00 in a report on Tuesday, December 3rd. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.