Clearbridge Investments LLC Buys 104,715 Shares of DTE Energy (NYSE:DTE)

Clearbridge Investments LLC increased its stake in DTE Energy (NYSE:DTE) by 15.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 781,647 shares of the utilities provider’s stock after acquiring an additional 104,715 shares during the period. Clearbridge Investments LLC’s holdings in DTE Energy were worth $86,184,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. MV Capital Management Inc. grew its position in shares of DTE Energy by 104.4% in the 4th quarter. MV Capital Management Inc. now owns 280 shares of the utilities provider’s stock worth $31,000 after buying an additional 143 shares during the period. Milestone Investment Advisors LLC bought a new position in DTE Energy during the 3rd quarter valued at approximately $36,000. Authentikos Wealth Advisory LLC bought a new position in shares of DTE Energy during the third quarter valued at $43,000. Principal Securities Inc. bought a new stake in DTE Energy during the 4th quarter valued at about $54,000. Finally, Cullen Frost Bankers Inc. raised its holdings in DTE Energy by 17.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 702 shares of the utilities provider’s stock worth $70,000 after acquiring an additional 102 shares during the last quarter. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on DTE. KeyCorp increased their target price on DTE Energy from $117.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday. TheStreet raised shares of DTE Energy from a “c+” rating to a “b-” rating in a report on Friday, March 15th. Morgan Stanley boosted their price objective on shares of DTE Energy from $108.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. JPMorgan Chase & Co. raised their target price on shares of DTE Energy from $118.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, March 13th. Finally, Barclays boosted their target price on shares of DTE Energy from $115.00 to $119.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $116.30.

DTE Energy Stock Performance

Shares of DTE opened at $117.18 on Wednesday. The business has a 50-day simple moving average of $110.82 and a two-hundred day simple moving average of $108.28. The company has a quick ratio of 0.54, a current ratio of 0.75 and a debt-to-equity ratio of 1.72. DTE Energy has a 52 week low of $90.14 and a 52 week high of $117.44. The stock has a market cap of $24.25 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 2.90 and a beta of 0.64.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Thursday, April 25th. The utilities provider reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.04). The firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.81 billion. DTE Energy had a net margin of 10.36% and a return on equity of 11.53%. On average, analysts expect that DTE Energy will post 6.7 EPS for the current year.

DTE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 17th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 3.48%. The ex-dividend date is Monday, June 17th. DTE Energy’s dividend payout ratio is currently 66.78%.

Insiders Place Their Bets

In related news, COO Mark W. Stiers sold 10,000 shares of DTE Energy stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $116.00, for a total transaction of $1,160,000.00. Following the sale, the chief operating officer now owns 41,921 shares of the company’s stock, valued at approximately $4,862,836. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Mark W. Stiers sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $116.00, for a total transaction of $1,160,000.00. Following the completion of the transaction, the chief operating officer now directly owns 41,921 shares of the company’s stock, valued at $4,862,836. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Robert A. Richard sold 4,800 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $107.25, for a total transaction of $514,800.00. Following the completion of the sale, the chief operating officer now owns 26,118 shares in the company, valued at approximately $2,801,155.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,400 shares of company stock worth $1,739,024. Corporate insiders own 0.28% of the company’s stock.

DTE Energy 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.