EverSource Wealth Advisors LLC Buys 899 Shares of DTE Energy (NYSE:DTE)

EverSource Wealth Advisors LLC grew its holdings in DTE Energy (NYSE:DTE) by 661.0% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,035 shares of the utilities provider’s stock after buying an additional 899 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in DTE Energy were worth $114,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DTE. DekaBank Deutsche Girozentrale grew its position in shares of DTE Energy by 7.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 35,498 shares of the utilities provider’s stock worth $3,911,000 after buying an additional 2,432 shares during the period. Cetera Advisors LLC bought a new position in shares of DTE Energy during the 1st quarter valued at about $708,000. Cetera Investment Advisers lifted its holdings in shares of DTE Energy by 242.0% during the 1st quarter. Cetera Investment Advisers now owns 29,306 shares of the utilities provider’s stock valued at $3,286,000 after purchasing an additional 20,737 shares in the last quarter. FSA Advisors Inc. lifted its holdings in shares of DTE Energy by 4.1% during the 1st quarter. FSA Advisors Inc. now owns 6,391 shares of the utilities provider’s stock valued at $717,000 after purchasing an additional 250 shares in the last quarter. Finally, Western Pacific Wealth Management LP lifted its holdings in shares of DTE Energy by 16.6% during the 1st quarter. Western Pacific Wealth Management LP now owns 1,116 shares of the utilities provider’s stock valued at $125,000 after purchasing an additional 159 shares in the last quarter. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at DTE Energy

In related news, VP Lisa A. Muschong sold 1,198 shares of DTE Energy stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $116.61, for a total transaction of $139,698.78. Following the transaction, the vice president now directly owns 4,271 shares in the company, valued at $498,041.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other DTE Energy news, VP Lisa A. Muschong sold 1,198 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $116.61, for a total transaction of $139,698.78. Following the sale, the vice president now directly owns 4,271 shares of the company’s stock, valued at $498,041.31. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Mark W. Stiers sold 10,000 shares of DTE Energy stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $116.00, for a total value of $1,160,000.00. Following the completion of the sale, the chief operating officer now directly owns 41,921 shares in the company, valued at $4,862,836. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,698 shares of company stock worth $1,702,444. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. KeyCorp lifted their price objective on DTE Energy from $117.00 to $125.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Wells Fargo & Company upped their price objective on DTE Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Scotiabank decreased their target price on DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating on the stock in a report on Monday, April 22nd. StockNews.com lowered DTE Energy from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Barclays upped their target price on DTE Energy from $123.00 to $128.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, DTE Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.30.

DTE Energy Trading Up 0.7 %

NYSE DTE traded up $0.83 on Tuesday, hitting $119.62. The company’s stock had a trading volume of 515,397 shares, compared to its average volume of 1,095,902. DTE Energy has a 52-week low of $90.14 and a 52-week high of $126.76. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. The company’s 50-day simple moving average is $113.84 and its 200 day simple moving average is $110.90. The firm has a market cap of $24.75 billion, a P/E ratio of 19.57, a PEG ratio of 2.27 and a beta of 0.66.

DTE Energy (NYSE:DTE) last posted its earnings results on Thursday, July 25th. The utilities provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.22. The business had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.65 billion. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. During the same quarter last year, the company earned $0.99 EPS. Research analysts predict that DTE Energy will post 6.7 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be given a dividend of $1.02 per share. The ex-dividend date is Monday, September 16th. This represents a $4.08 annualized dividend and a yield of 3.41%. DTE Energy’s dividend payout ratio (DPR) is presently 66.78%.

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.