DTE Energy (NYSE:DTE) Shares Bought by Cibc World Markets Corp

Cibc World Markets Corp raised its position in DTE Energy (NYSE:DTE) by 16.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,688 shares of the utilities provider’s stock after acquiring an additional 4,594 shares during the quarter. Cibc World Markets Corp’s holdings in DTE Energy were worth $3,947,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of DTE. Legacy Investment Solutions LLC acquired a new position in DTE Energy in the 3rd quarter valued at about $30,000. Prospera Private Wealth LLC acquired a new position in DTE Energy in the 3rd quarter valued at about $35,000. Versant Capital Management Inc grew 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 valued at $36,000 after acquiring an additional 267 shares in the last quarter. Robbins Farley acquired a new position in shares of DTE Energy during the fourth quarter worth about $57,000. Finally, Kestra Investment Management LLC acquired a new position in shares of DTE Energy during the fourth quarter worth about $57,000. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Price Performance

DTE Energy stock opened at $136.29 on Thursday. DTE Energy has a 12 month low of $103.06 and a 12 month high of $136.76. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46. The business has a 50 day simple moving average of $126.71 and a 200-day simple moving average of $124.70. The stock has a market capitalization of $28.24 billion, a PE ratio of 20.13, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59.

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

DTE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be paid a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a dividend yield of 3.20%. The ex-dividend date is Monday, March 17th. DTE Energy’s dividend payout ratio (DPR) is presently 64.40%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DTE. UBS Group raised DTE Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $129.00 to $143.00 in a research report on Tuesday, December 3rd. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Scotiabank boosted 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. BMO Capital Markets boosted 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. Finally, Morgan Stanley lowered their price target on DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, DTE Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.09.

Insider Transactions at DTE Energy

In related news, COO Matthew T. Paul sold 3,801 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $129.56, for a total transaction of $492,457.56. Following the transaction, the chief operating officer now owns 6,951 shares of the company’s stock, valued at $900,571.56. This represents a 35.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Tracy J. Myrick sold 1,014 shares of the company’s stock in a transaction 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 directly owns 3,437 shares in the company, valued at $446,535.04. This represents a 22.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,877 shares of company stock worth $1,559,205 over the last 90 days. 0.61% of the stock is currently owned by insiders.

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.