DTE Energy (NYSE:DTE) Shares Sold by Sit Investment Associates Inc.

Sit Investment Associates Inc. cut its stake in DTE Energy (NYSE:DTE) by 7.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,855 shares of the utilities provider’s stock after selling 3,160 shares during the period. Sit Investment Associates Inc.’s holdings in DTE Energy were worth $4,933,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of DTE. Legacy Investment Solutions LLC acquired a new stake in shares of DTE Energy during the third quarter worth $30,000. Versant Capital Management Inc raised its position in DTE Energy by 890.0% during the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 267 shares in the last quarter. Robbins Farley acquired a new position in DTE Energy in the fourth quarter valued at approximately $57,000. Kestra Investment Management LLC purchased a new stake in DTE Energy in the 4th quarter worth approximately $57,000. Finally, AdvisorNet Financial Inc boosted its position 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. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Insiders Place Their Bets

In other DTE Energy news, SVP Joann Chavez sold 7,062 shares of DTE Energy stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $132.40, for a total transaction of $935,008.80. Following the transaction, the senior vice president now directly owns 14,067 shares of the company’s stock, valued at $1,862,470.80. The trade was a 33.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Matthew T. Paul sold 3,801 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total transaction of $492,457.56. Following the completion of the sale, the chief operating officer now directly owns 6,951 shares of the company’s stock, valued at approximately $900,571.56. This trade represents a 35.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,877 shares of company stock valued at $1,559,205. Insiders own 0.33% of the company’s stock.

DTE Energy Trading Down 5.5 %

Shares of DTE opened at $131.85 on Friday. DTE Energy has a 52-week low of $103.06 and a 52-week high of $140.39. The stock has a market cap 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. The firm’s fifty day moving average is $130.43 and its two-hundred day moving average is $125.66. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77.

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 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%. Research analysts forecast 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. Investors of record on Monday, March 17th will be issued a $1.09 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $4.36 annualized dividend and a dividend yield of 3.31%. DTE Energy’s dividend payout ratio is presently 64.40%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Barclays cut shares of DTE Energy from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $137.00 to $135.00 in a research note on Thursday, February 20th. 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 report on Thursday, March 20th. Scotiabank increased their target price on shares of DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research note on Thursday, December 12th. Guggenheim lifted their price target 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 DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.