Liberty Wealth Management LLC bought a new stake in DTE Energy Co (NYSE:DTE) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 684 shares of the utilities provider’s stock, valued at approximately $75,000.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Wetherby Asset Management Inc. boosted its stake in shares of DTE Energy by 4.1% in the fourth quarter. Wetherby Asset Management Inc. now owns 2,480 shares of the utilities provider’s stock valued at $274,000 after purchasing an additional 97 shares during the period. Utah Retirement Systems lifted its stake in DTE Energy by 0.3% in the fourth quarter. Utah Retirement Systems now owns 33,780 shares of the utilities provider’s stock worth $3,726,000 after acquiring an additional 100 shares during the last quarter. Rehmann Capital Advisory Group lifted its stake in DTE Energy by 6.3% in the fourth quarter. Rehmann Capital Advisory Group now owns 1,742 shares of the utilities provider’s stock worth $192,000 after acquiring an additional 103 shares during the last quarter. Certified Advisory Corp lifted its stake in DTE Energy by 18.0% in the fourth quarter. Certified Advisory Corp now owns 687 shares of the utilities provider’s stock worth $76,000 after acquiring an additional 105 shares during the last quarter. Finally, Kaizen Advisory LLC lifted its stake in DTE Energy by 29.0% in the fourth quarter. Kaizen Advisory LLC now owns 481 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 108 shares during the last quarter. Institutional investors and hedge funds own 70.43% of the company’s stock.
DTE has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. ValuEngine downgraded shares of DTE Energy from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. Finally, Credit Suisse Group set a $117.00 target price on shares of DTE Energy and gave the company a “sell” rating in a report on Monday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $118.25.
DTE Energy (NYSE:DTE) last issued its earnings results on Wednesday, April 24th. The utilities provider reported $2.05 EPS for the quarter, topping the consensus estimate of $1.96 by $0.09. DTE Energy had a net margin of 7.88% and a return on equity of 10.85%. During the same quarter last year, the company posted $1.91 EPS. Sell-side analysts predict that DTE Energy Co will post 6.18 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, March 18th were given a dividend of $0.945 per share. The ex-dividend date was Friday, March 15th. This represents a $3.78 annualized dividend and a dividend yield of 3.05%. DTE Energy’s payout ratio is currently 60.00%.
In related news, VP Lisa A. Muschong sold 2,616 shares of the business’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $119.80, for a total value of $313,396.80. Following the sale, the vice president now directly owns 2,933 shares in the company, valued at approximately $351,373.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Gerard M. Anderson sold 11,000 shares of the business’s stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $119.39, for a total transaction of $1,313,290.00. Following the completion of the sale, the chairman now owns 79,906 shares in the company, valued at $9,539,977.34. The disclosure for this sale can be found here. Insiders have sold a total of 15,316 shares of company stock worth $1,834,835 over the last 90 days. Insiders own 0.55% of the company’s stock.
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DTE Energy Company Profile
DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.2 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.
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