Flagship Wealth Advisors LLC Makes New Investment in DTE Energy (NYSE:DTE)

Flagship Wealth Advisors LLC acquired a new position in DTE Energy (NYSE:DTE) in the fourth quarter, Holdings Channel reports. The fund acquired 721 shares of the utilities provider’s stock, valued at approximately $87,000.

Other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP grew its position in DTE Energy by 16.0% in the 4th quarter. Allworth Financial LP now owns 2,438 shares of the utilities provider’s stock worth $293,000 after purchasing an additional 336 shares in the last quarter. Jones Financial Companies Lllp grew its position in DTE Energy by 72.3% in the 4th quarter. Jones Financial Companies Lllp now owns 6,295 shares of the utilities provider’s stock worth $760,000 after purchasing an additional 2,642 shares in the last quarter. Nordea Investment Management AB grew its position in shares of DTE Energy by 2,235.2% during the 4th quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider’s stock valued at $26,706,000 after acquiring an additional 211,763 shares during the period. Patton Albertson Miller Group LLC grew its position in shares of DTE Energy by 7.6% during the 4th quarter. Patton Albertson Miller Group LLC now owns 46,931 shares of the utilities provider’s stock valued at $5,667,000 after acquiring an additional 3,306 shares during the period. Finally, Hancock Whitney Corp grew its position in shares of DTE Energy by 80.0% during the 3rd quarter. Hancock Whitney Corp now owns 12,885 shares of the utilities provider’s stock valued at $1,655,000 after acquiring an additional 5,725 shares during the period. 76.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. BMO Capital Markets increased their target price on shares of DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Morgan Stanley reduced their target price on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Scotiabank increased their target price on shares of DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research report on Thursday, December 12th. Finally, KeyCorp downgraded shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.09.

DTE Energy Stock Performance

NYSE DTE opened at $135.60 on Tuesday. DTE Energy has a 1 year low of $103.06 and a 1 year high of $138.93. 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 stock has a market capitalization of $28.10 billion, a PE ratio of 20.03, a P/E/G ratio of 2.41 and a beta of 0.59. The company’s 50 day simple moving average is $126.10 and its two-hundred day simple moving average is $124.55.

DTE Energy (NYSE:DTE) last posted its earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.01. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. Analysts predict that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a $1.09 dividend. This represents a $4.36 annualized dividend and a yield of 3.22%. The ex-dividend date is Monday, March 17th. DTE Energy’s dividend payout ratio is presently 64.40%.

Insiders Place Their Bets

In other news, SVP Joann Chavez sold 7,062 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $132.40, for a total transaction of $935,008.80. Following the sale, the senior vice president now owns 14,067 shares in the company, valued at approximately $1,862,470.80. This trade represents a 33.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Matthew T. Paul sold 3,801 shares of DTE Energy 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 completion of the transaction, the chief operating officer now owns 6,951 shares in the company, valued at approximately $900,571.56. The trade was a 35.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,877 shares of company stock worth $1,559,205 in the last three months. 0.61% of the stock is currently owned by corporate insiders.

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.