Charles Schwab Investment Management Inc. Buys 31,827 Shares of DTE Energy (NYSE:DTE)

Charles Schwab Investment Management Inc. grew its stake in shares of DTE Energy (NYSE:DTE) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,306,664 shares of the utilities provider’s stock after buying an additional 31,827 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.63% of DTE Energy worth $157,780,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in DTE Energy during the third quarter worth about $30,000. Ashton Thomas Securities LLC acquired a new stake in shares of DTE Energy during the third quarter worth about $35,000. Prospera Private Wealth LLC acquired a new stake in shares of DTE Energy during the third quarter worth about $35,000. Versant Capital Management Inc raised its position in shares of DTE Energy by 890.0% during the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 267 shares during the period. Finally, Coastline Trust Co acquired a new stake in shares of DTE Energy during the third quarter worth about $39,000. Institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Up 0.7 %

Shares of DTE Energy stock opened at $131.46 on Friday. The firm has a market cap of $27.24 billion, a PE ratio of 19.42, a P/E/G ratio of 2.41 and a beta of 0.59. DTE Energy has a 52-week low of $103.06 and a 52-week high of $136.28. The business’s 50 day simple moving average is $124.61 and its 200 day simple moving average is $124.16. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71.

DTE Energy (NYSE:DTE) last posted 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 return on equity of 12.42% and a net margin of 11.27%. On average, analysts predict that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be given a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s dividend payout ratio (DPR) is 64.40%.

Insiders Place Their Bets

In other news, SVP Joann Chavez sold 7,062 shares of DTE Energy stock in a transaction that occurred 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 completion of the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Tracy J. Myrick sold 1,014 shares of DTE Energy stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 3,437 shares of the company’s stock, valued at $446,535.04. This represents a 22.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 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 a number of research analyst reports. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. KeyCorp lowered DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Scotiabank raised their price target 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. BMO Capital Markets raised their price target 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. Finally, Morgan Stanley dropped their price target on DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $135.67.

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.