Modern Wealth Management LLC Increases Position in DTE Energy (NYSE:DTE)

Modern Wealth Management LLC lifted its position in shares of DTE Energy (NYSE:DTE) by 1.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 13,009 shares of the utilities provider’s stock after purchasing an additional 125 shares during the period. Modern Wealth Management LLC’s holdings in DTE Energy were worth $1,609,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Empowered Funds LLC boosted its position in shares of DTE Energy by 9.3% during the 3rd quarter. Empowered Funds LLC now owns 3,028 shares of the utilities provider’s stock worth $389,000 after acquiring an additional 258 shares in the last quarter. Quest Partners LLC lifted its stake in DTE Energy by 21,380.0% during the third quarter. Quest Partners LLC now owns 1,074 shares of the utilities provider’s stock worth $138,000 after purchasing an additional 1,069 shares during the last quarter. Pathstone Holdings LLC boosted its holdings in DTE Energy by 2.8% in the third quarter. Pathstone Holdings LLC now owns 20,173 shares of the utilities provider’s stock valued at $2,592,000 after purchasing an additional 549 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in DTE Energy by 4.1% in the third quarter. Advisors Asset Management Inc. now owns 7,481 shares of the utilities provider’s stock valued at $961,000 after purchasing an additional 298 shares in the last quarter. Finally, Kingsview Wealth Management LLC purchased a new position in DTE Energy in the third quarter valued at approximately $657,000. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Trading Down 1.2 %

Shares of DTE stock opened at $134.49 on Wednesday. The company has a market capitalization of $27.91 billion, a P/E ratio of 19.87, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77. The business’s 50 day moving average is $128.04 and its two-hundred day moving average is $125.03. DTE Energy has a twelve month low of $103.06 and a twelve month high of $138.22.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. Equities analysts forecast that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be issued a dividend of $1.09 per share. The ex-dividend date is Monday, March 17th. This represents a $4.36 annualized dividend and a yield of 3.24%. DTE Energy’s dividend payout ratio is currently 64.40%.

Insider Activity at DTE Energy

In other news, CAO Tracy J. Myrick sold 1,014 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total transaction of $131,738.88. Following the completion of the transaction, the chief accounting officer now directly owns 3,437 shares of the company’s stock, valued at approximately $446,535.04. This represents a 22.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Joann Chavez sold 7,062 shares of DTE Energy stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $132.40, for a total value of $935,008.80. Following the completion of the sale, the senior vice president now owns 14,067 shares in the company, valued at approximately $1,862,470.80. This trade represents a 33.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,877 shares of company stock worth $1,559,205 over the last 90 days. Company insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

DTE has been the subject of several recent analyst reports. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Guggenheim boosted their price target on shares of DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a research report on Friday, March 21st. Scotiabank raised their price objective on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a report on Thursday, December 12th. KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Finally, Barclays downgraded DTE Energy from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $137.00 to $135.00 in a research note on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.58.

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.