Kestra Investment Management LLC Buys Shares of 474 DTE Energy (NYSE:DTE)

Kestra Investment Management LLC bought a new stake in shares of DTE Energy (NYSE:DTE) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 474 shares of the utilities provider’s stock, valued at approximately $57,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DTE. Mizuho Securities USA LLC increased its holdings in DTE Energy by 44,009.5% during the third quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock valued at $903,878,000 after buying an additional 7,023,042 shares during the last quarter. State Street Corp increased its holdings in DTE Energy by 7.0% during the third quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock valued at $1,319,264,000 after buying an additional 662,569 shares during the last quarter. Zimmer Partners LP bought a new position in shares of DTE Energy in the third quarter worth approximately $69,894,000. Point72 Asset Management L.P. bought a new position in shares of DTE Energy in the third quarter worth approximately $66,733,000. Finally, Nordea Investment Management AB boosted its position in shares of DTE Energy by 2,235.2% in the fourth quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider’s stock worth $26,706,000 after purchasing an additional 211,763 shares during the period. 76.06% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other DTE Energy 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 directly owns 6,951 shares in the company, valued at $900,571.56. This represents a 35.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 owns 3,437 shares in the company, valued at approximately $446,535.04. The trade was a 22.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have weighed in on DTE. KeyCorp lowered shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. BMO Capital Markets upped their price target on shares of DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a research report on Tuesday. UBS Group upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $129.00 to $143.00 in a research report on Tuesday, December 3rd. Morgan Stanley dropped their price target on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Finally, Barclays lowered shares of 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 report on Thursday. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $135.67.

DTE Energy Price Performance

DTE Energy stock opened at $131.98 on Friday. DTE Energy has a 52-week low of $103.06 and a 52-week high of $132.88. The company has a market cap of $27.35 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 2.40 and a beta of 0.68. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. The firm’s fifty day moving average is $122.15 and its 200 day moving average is $123.36.

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 net margin of 11.27% and a return on equity of 12.42%. Sell-side analysts forecast that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Dividend Announcement

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

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.