Richardson Financial Services Inc. Invests $178,000 in DTE Energy (NYSE:DTE)

Richardson Financial Services Inc. acquired a new position in shares of DTE Energy (NYSE:DTE) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 1,615 shares of the utilities provider’s stock, valued at approximately $178,000.

A number of other hedge funds also recently made changes to their positions in the stock. PBMares Wealth Management LLC raised its position in shares of DTE Energy by 4.5% during the fourth quarter. PBMares Wealth Management LLC now owns 2,301 shares of the utilities provider’s stock worth $254,000 after acquiring an additional 100 shares during the last quarter. ASB Consultores LLC grew its stake in DTE Energy by 5.6% during the third quarter. ASB Consultores LLC now owns 2,135 shares of the utilities provider’s stock worth $212,000 after purchasing an additional 114 shares during the period. Secure Asset Management LLC grew its stake in DTE Energy by 1.7% during the fourth quarter. Secure Asset Management LLC now owns 7,688 shares of the utilities provider’s stock worth $848,000 after purchasing an additional 127 shares during the period. Executive Wealth Management LLC grew its stake in DTE Energy by 0.6% during the fourth quarter. Executive Wealth Management LLC now owns 21,652 shares of the utilities provider’s stock worth $2,387,000 after purchasing an additional 128 shares during the period. Finally, Raymond James Trust N.A. grew its stake in DTE Energy by 3.2% during the fourth quarter. Raymond James Trust N.A. now owns 4,204 shares of the utilities provider’s stock worth $464,000 after purchasing an additional 132 shares during the period. 76.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

DTE has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on DTE Energy from $118.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 13th. TheStreet raised DTE Energy from a “c+” rating to a “b-” rating in a research note on Friday, March 15th. Scotiabank decreased their target price on DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating for the company in a research note on Monday, April 22nd. KeyCorp raised their price objective on DTE Energy from $117.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Finally, Morgan Stanley raised their price objective on DTE Energy from $108.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $115.44.

DTE Energy Stock Down 0.4 %

Shares of NYSE:DTE traded down $0.40 during mid-day trading on Friday, hitting $112.14. 766,328 shares of the company traded hands, compared to its average volume of 873,865. The stock has a market cap of $23.21 billion, a P/E ratio of 18.35, a P/E/G ratio of 2.04 and a beta of 0.67. The company has a current ratio of 0.75, a quick ratio of 0.54 and a debt-to-equity ratio of 1.72. DTE Energy has a 12-month low of $90.14 and a 12-month high of $117.44. The stock has a 50-day moving average price of $112.11 and a two-hundred day moving average price of $109.74.

DTE Energy (NYSE:DTE) last announced its earnings results on Thursday, April 25th. The utilities provider reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.04). The company 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, equities research analysts forecast that DTE Energy will post 6.7 earnings per share for the current year.

DTE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 17th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $4.08 annualized dividend and a dividend yield of 3.64%. DTE Energy’s payout ratio is 66.78%.

Insider Activity at DTE Energy

In related news, Vice Chairman Trevor F. Lauer sold 3,500 shares of DTE Energy stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $115.07, for a total transaction of $402,745.00. Following the sale, the insider now directly owns 59,475 shares in the company, valued at $6,843,788.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Vice Chairman Trevor F. Lauer sold 3,500 shares of DTE Energy stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $115.07, for a total transaction of $402,745.00. Following the sale, the insider now directly owns 59,475 shares in the company, valued at $6,843,788.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Lisa A. Muschong sold 1,198 shares of DTE Energy stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $116.61, for a total value of $139,698.78. Following the sale, the vice president now owns 4,271 shares in the company, valued at $498,041.31. The disclosure for this sale can be found here. Insiders have sold a total of 14,698 shares of company stock valued at $1,702,444 over the last 90 days. Insiders own 0.61% of the company’s stock.

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.