Korea Investment CORP Has $19.52 Million Holdings in DTE Energy (NYSE:DTE)

Korea Investment CORP boosted its position in shares of DTE Energy (NYSE:DTE) by 101.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,650 shares of the utilities provider’s stock after acquiring an additional 81,300 shares during the quarter. Korea Investment CORP owned 0.08% of DTE Energy worth $19,519,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its stake in DTE Energy by 16.0% in the 4th quarter. Allworth Financial LP now owns 2,438 shares of the utilities provider’s stock valued at $293,000 after purchasing an additional 336 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of DTE Energy by 72.3% during the 4th quarter. Jones Financial Companies Lllp now owns 6,295 shares of the utilities provider’s stock worth $760,000 after acquiring an additional 2,642 shares during the period. Nordea Investment Management AB increased its holdings 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 worth $26,706,000 after acquiring an additional 211,763 shares during the last quarter. Patton Albertson Miller Group LLC lifted its holdings in 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 purchasing an additional 3,306 shares during the last quarter. Finally, M&T Bank Corp boosted its position in DTE Energy by 4.4% during the fourth quarter. M&T Bank Corp now owns 9,432 shares of the utilities provider’s stock worth $1,139,000 after purchasing an additional 395 shares during the period. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Trading Up 0.9 %

Shares of DTE Energy stock opened at $136.47 on Friday. 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 has a 12-month low of $103.06 and a 12-month high of $138.22. The company has a market capitalization of $28.32 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 2.41 and a beta of 0.59. The firm’s 50-day moving average price is $128.84 and its two-hundred day moving average price is $125.25.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating 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%. On average, analysts forecast that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, March 17th. This represents a $4.36 annualized dividend and a dividend yield of 3.19%. DTE Energy’s dividend payout ratio is currently 64.40%.

Insider Buying and Selling at DTE Energy

In related news, 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 value of $492,457.56. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Joann Chavez sold 7,062 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $132.40, for a total transaction of $935,008.80. Following the transaction, the senior vice president now owns 14,067 shares of the company’s stock, valued at $1,862,470.80. This trade represents a 33.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,877 shares of company stock worth $1,559,205 over the last 90 days. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

DTE has been the subject of a number of research reports. BMO Capital Markets raised their target price on shares of DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. UBS Group upgraded 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 report on Tuesday, December 3rd. Morgan Stanley increased their target price on DTE Energy from $131.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Barclays downgraded DTE Energy from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $137.00 to $135.00 in a research note on Thursday, February 20th. Finally, Guggenheim increased their price objective on DTE Energy from $139.00 to $147.00 and gave the stock a “buy” rating in a research report on Friday, March 21st. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, DTE Energy presently has an average rating of “Moderate Buy” and an average price target of $138.58.

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.