Massachusetts Financial Services Co. MA Has $199.72 Million Stock Position in DTE Energy (NYSE:DTE)

Massachusetts Financial Services Co. MA cut its position in DTE Energy (NYSE:DTE) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,653,985 shares of the utilities provider’s stock after selling 11,643 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.80% of DTE Energy worth $199,719,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in DTE Energy by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 25,286,380 shares of the utilities provider’s stock valued at $3,053,330,000 after acquiring an additional 879,670 shares during the period. State Street Corp lifted its position in shares of DTE Energy by 7.0% during the 3rd quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock worth $1,319,264,000 after purchasing an additional 662,569 shares during the last quarter. Boston Partners boosted its stake in DTE Energy by 25.1% during the 4th quarter. Boston Partners now owns 2,899,823 shares of the utilities provider’s stock valued at $350,150,000 after purchasing an additional 582,643 shares during the period. Zimmer Partners LP acquired a new stake in DTE Energy in the 3rd quarter valued at approximately $69,894,000. Finally, Point72 Asset Management L.P. bought a new position in DTE Energy in the 3rd quarter worth approximately $66,733,000. Institutional investors own 76.06% of the company’s stock.

Insiders Place Their Bets

In other DTE Energy news, CAO Tracy J. Myrick sold 1,014 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total value of $131,738.88. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joann Chavez sold 7,062 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $132.40, for a total value of $935,008.80. Following the sale, the senior vice president now directly owns 14,067 shares in the company, valued at approximately $1,862,470.80. This represents a 33.42 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,877 shares of company stock worth $1,559,205. Company insiders own 0.33% of the company’s stock.

DTE Energy Stock Performance

Shares of DTE Energy stock opened at $139.36 on Friday. DTE Energy has a 52 week low of $103.06 and a 52 week high of $140.39. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71. The stock has a market capitalization of $28.92 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 2.41 and a beta of 0.59. The firm has a fifty day moving average of $130.18 and a two-hundred day moving average of $125.62.

DTE Energy (NYSE:DTE) last released its earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share 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, equities research analysts predict that DTE Energy will post 7.18 EPS for the current 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 3.13%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s payout ratio is presently 64.40%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Guggenheim raised their target price on DTE Energy from $139.00 to $147.00 and gave the stock a “buy” rating in a research report on Friday, March 21st. BMO Capital Markets raised their price objective on shares of DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. 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 note on Thursday, December 12th. Finally, Barclays cut DTE Energy from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $137.00 to $135.00 in a report on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.