Insider Selling: DTE Energy (NYSE:DTE) SVP Sells $935,008.80 in Stock

DTE Energy (NYSE:DTE) SVP Joann Chavez sold 7,062 shares of the company’s stock in a transaction on 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 owns 14,067 shares of the company’s stock, valued at $1,862,470.80. This trade represents a 33.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

DTE Energy Stock Down 0.4 %

Shares of DTE stock opened at $132.09 on Friday. DTE Energy has a fifty-two week low of $103.06 and a fifty-two week high of $133.49. The firm has a market capitalization of $27.37 billion, a PE ratio of 19.51, a P/E/G ratio of 2.41 and a beta of 0.68. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71. The stock’s 50-day simple moving average is $123.20 and its 200-day simple moving average is $123.71.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share for the quarter, topping 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%. Equities analysts expect that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on DTE shares. Morgan Stanley cut their target price on DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and increased their target price 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 research note on Friday, February 21st. KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Finally, Scotiabank raised their price objective on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, DTE Energy currently has an average rating of “Moderate Buy” and an average target price of $135.67.

Institutional Investors Weigh In On DTE Energy

Hedge funds have recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC acquired a new position in shares of DTE Energy in the 3rd quarter valued at about $30,000. Prospera Private Wealth LLC purchased a new position in DTE Energy during the third quarter valued at approximately $35,000. Ashton Thomas Securities LLC acquired a new position in DTE Energy in the third quarter valued at approximately $35,000. Versant Capital Management Inc boosted its position in DTE Energy by 890.0% in the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 267 shares in the last quarter. Finally, Coastline Trust Co purchased a new stake in DTE Energy in the 3rd quarter worth approximately $39,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

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.