Mizuho Securities USA LLC Acquires 6,204 Shares of DTE Energy (NYSE:DTE)

Mizuho Securities USA LLC boosted its stake in DTE Energy (NYSE:DTE) by 46.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,628 shares of the utilities provider’s stock after acquiring an additional 6,204 shares during the period. Mizuho Securities USA LLC’s holdings in DTE Energy were worth $2,370,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in DTE. Legacy Investment Solutions LLC bought a new stake in shares of DTE Energy during the 3rd quarter valued at about $30,000. Versant Capital Management Inc lifted its holdings in DTE Energy by 890.0% in the fourth 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. Robbins Farley bought a new stake in DTE Energy during the 4th quarter valued at approximately $57,000. Kestra Investment Management LLC purchased a new position in shares of DTE Energy during the 4th quarter worth approximately $57,000. Finally, Brooklyn Investment Group bought a new position in shares of DTE Energy in the 3rd quarter worth approximately $83,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Joann Chavez sold 7,062 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $132.40, for a total transaction of $935,008.80. Following the transaction, the senior vice president now directly owns 14,067 shares of the company’s stock, valued at $1,862,470.80. This represents a 33.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Tracy J. Myrick sold 1,014 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total value of $131,738.88. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 11,877 shares of company stock valued at $1,559,205 in the last 90 days. 0.61% of the stock is currently owned by insiders.

Analysts Set New Price Targets

DTE has been the topic of several research reports. UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $129.00 to $143.00 in a research report on Tuesday, December 3rd. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 21st. BMO Capital Markets upped their target price 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, February 18th. Morgan Stanley lifted their price target on shares of DTE Energy from $131.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. Finally, Guggenheim upped their price objective on shares of DTE Energy from $139.00 to $147.00 and gave the stock a “buy” rating in a report on Friday. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, DTE Energy has an average rating of “Moderate Buy” and a consensus target price of $138.58.

DTE Energy Trading Down 0.8 %

NYSE:DTE opened at $136.03 on Tuesday. The stock has a market cap of $28.23 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 2.41 and a beta of 0.59. 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 company’s 50 day moving average price is $127.74 and its 200-day moving average price is $124.95. DTE Energy has a 52 week low of $103.06 and a 52 week high of $138.22.

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

DTE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s dividend payout ratio is currently 64.40%.

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.