Polymer Capital Management HK LTD Takes Position in DTE Energy (NYSE:DTE)

Polymer Capital Management HK LTD purchased a new position in shares of DTE Energy (NYSE:DTE) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 9,259 shares of the utilities provider’s stock, valued at approximately $1,118,000.

A number of other institutional investors have also recently bought and sold shares of DTE. Legacy Investment Solutions LLC bought a new position in DTE Energy in the third quarter valued at $30,000. Versant Capital Management Inc raised its position in shares of DTE Energy by 890.0% in the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 267 shares during the period. Robbins Farley bought a new position in DTE Energy in the 4th quarter valued at about $57,000. Kestra Investment Management LLC acquired a new position in DTE Energy in the 4th quarter valued at $57,000. Finally, AdvisorNet Financial Inc raised its stake in DTE Energy by 81.5% in the 4th quarter. AdvisorNet Financial Inc now owns 697 shares of the utilities provider’s stock worth $84,000 after purchasing an additional 313 shares in the last quarter. Institutional investors own 76.06% of the company’s stock.

Wall Street Analyst Weigh In

DTE has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price objective on shares of DTE Energy from $131.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. BMO Capital Markets raised their price objective on DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Scotiabank upped their target price on DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research report on Thursday, December 12th. Guggenheim raised their target price on DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a research note on Friday, March 21st. Finally, StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $138.58.

Insider Activity at DTE Energy

In related news, CAO Tracy J. Myrick sold 1,014 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total transaction of $131,738.88. Following the completion of the sale, the chief accounting officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Joann Chavez sold 7,062 shares of DTE Energy stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $132.40, for a total value of $935,008.80. Following the sale, the senior vice president now directly owns 14,067 shares in the company, valued at approximately $1,862,470.80. The trade was a 33.42 % 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 worth $1,559,205 over the last three months. 0.33% of the stock is currently owned by corporate insiders.

DTE Energy Price Performance

Shares of DTE opened at $131.85 on Friday. The firm has a market capitalization of $27.36 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 2.41 and a beta of 0.49. DTE Energy has a 1-year low of $103.06 and a 1-year high of $140.39. The company’s fifty day moving average price is $130.43 and its 200-day moving average price is $125.66. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46.

DTE Energy (NYSE:DTE) last announced its quarterly 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%. On average, equities research analysts predict that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a $1.09 dividend. The ex-dividend date is Monday, March 17th. This represents a $4.36 annualized dividend and a yield of 3.31%. DTE Energy’s dividend payout ratio is currently 64.40%.

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.