DTE Energy (NYSE:DTE) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System reduced its stake in shares of DTE Energy (NYSE:DTE) by 0.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 985,661 shares of the utilities provider’s stock after selling 4,148 shares during the period. California Public Employees Retirement System owned 0.48% of DTE Energy worth $119,019,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DTE. Legacy Investment Solutions LLC purchased a new stake in shares of DTE Energy in the third quarter valued at $30,000. Versant Capital Management Inc lifted its holdings 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 purchasing an additional 267 shares in the last quarter. Robbins Farley acquired a new stake in shares of DTE Energy during the 4th quarter worth about $57,000. Kestra Investment Management LLC purchased a new stake in shares of DTE Energy during the fourth quarter worth about $57,000. Finally, AdvisorNet Financial Inc raised its position in shares of DTE Energy by 81.5% in the fourth quarter. AdvisorNet Financial Inc now owns 697 shares of the utilities provider’s stock valued at $84,000 after buying an additional 313 shares during the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Barclays lowered DTE Energy from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $137.00 to $135.00 in a research note on Thursday, February 20th. Guggenheim raised their price target on DTE Energy from $139.00 to $147.00 and gave the stock a “buy” rating in a research note on Friday, March 21st. BMO Capital Markets upped their price objective on shares of DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Finally, StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Five 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 a consensus target price of $138.58.

Insiders Place Their Bets

In other DTE Energy news, COO Matthew T. Paul sold 3,801 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total value of $492,457.56. Following the transaction, the chief operating officer now owns 6,951 shares in the company, valued at $900,571.56. The trade was a 35.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Joann Chavez sold 7,062 shares of the company’s 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 completion of the transaction, the senior vice president now directly owns 14,067 shares of the company’s stock, valued at approximately $1,862,470.80. The trade was a 33.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,877 shares of company stock worth $1,559,205 in the last 90 days. 0.33% of the stock is owned by company insiders.

DTE Energy Price Performance

DTE Energy stock opened at $136.47 on Monday. The firm has a fifty day moving average of $128.84 and a 200-day moving average of $125.26. DTE Energy has a 52-week low of $103.06 and a 52-week high of $138.22. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. The firm has a market capitalization of $28.32 billion, a P/E ratio of 20.16, a PEG ratio of 2.41 and a beta of 0.59.

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

DTE Energy Dividend Announcement

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 given a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s dividend payout ratio (DPR) is presently 64.40%.

DTE Energy 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.