Parallel Advisors LLC Purchases 466 Shares of DTE Energy (NYSE:DTE)

Parallel Advisors LLC grew its position in DTE Energy (NYSE:DTE) by 21.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,674 shares of the utilities provider’s stock after acquiring an additional 466 shares during the period. Parallel Advisors LLC’s holdings in DTE Energy were worth $323,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DTE. SkyOak Wealth LLC lifted its stake in shares of DTE Energy by 4.1% during the 4th quarter. SkyOak Wealth LLC now owns 2,174 shares of the utilities provider’s stock valued at $262,000 after buying an additional 85 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of DTE Energy by 8.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,205 shares of the utilities provider’s stock valued at $146,000 after acquiring an additional 90 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of DTE Energy by 4.5% in the fourth quarter. Stratos Wealth Partners LTD. now owns 2,139 shares of the utilities provider’s stock valued at $258,000 after acquiring an additional 92 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of DTE Energy by 4.0% in the third quarter. Tidal Investments LLC now owns 2,490 shares of the utilities provider’s stock worth $320,000 after acquiring an additional 96 shares during the period. Finally, Bleakley Financial Group LLC grew its position in shares of DTE Energy by 2.3% during the fourth quarter. Bleakley Financial Group LLC now owns 4,345 shares of the utilities provider’s stock worth $525,000 after purchasing an additional 96 shares in the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on DTE. Guggenheim boosted their price target on DTE Energy from $139.00 to $147.00 and gave the stock a “buy” rating in a report on Friday. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. KeyCorp downgraded shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $129.00 to $143.00 in a report on Tuesday, December 3rd. Finally, Morgan Stanley lifted their target price on DTE Energy from $131.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $138.58.

Insider Buying and Selling

In other DTE Energy news, SVP Joann Chavez sold 7,062 shares of the stock in a transaction on 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 owns 14,067 shares in the company, valued at $1,862,470.80. This trade represents a 33.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $492,457.56. Following the sale, the chief operating officer now directly owns 6,951 shares of the company’s stock, valued at $900,571.56. This represents a 35.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,877 shares of company stock valued at $1,559,205. Company insiders own 0.61% of the company’s stock.

DTE Energy Trading Up 0.2 %

DTE opened at $137.18 on Friday. DTE Energy has a 12 month low of $103.06 and a 12 month high of $138.22. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77. The stock has a 50-day moving average of $127.38 and a 200 day moving average of $124.87. The firm has a market cap of $28.47 billion, a P/E ratio of 20.26, a P/E/G ratio of 2.41 and a beta of 0.59.

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, research analysts forecast 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. Stockholders of record on Monday, March 17th will be issued a $1.09 dividend. The ex-dividend date is Monday, March 17th. This represents a $4.36 annualized dividend and a dividend yield of 3.18%. DTE Energy’s dividend payout ratio (DPR) is presently 64.40%.

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.