Reaves W H & Co. Inc. Cuts Stock Holdings in DTE Energy (NYSE:DTE)

Reaves W H & Co. Inc. lowered its stake in shares of DTE Energy (NYSE:DTE) by 2.4% during the fourth quarter, Holdings Channel reports. The fund owned 881,447 shares of the utilities provider’s stock after selling 21,698 shares during the period. DTE Energy comprises 2.8% of Reaves W H & Co. Inc.’s investment portfolio, making the stock its 14th largest position. Reaves W H & Co. Inc.’s holdings in DTE Energy were worth $106,435,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Jones Financial Companies Lllp increased its holdings in DTE Energy by 72.3% in the fourth quarter. Jones Financial Companies Lllp now owns 6,295 shares of the utilities provider’s stock valued at $760,000 after buying an additional 2,642 shares during the last quarter. SRS Capital Advisors Inc. increased its holdings in DTE Energy by 941.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,219 shares of the utilities provider’s stock valued at $147,000 after buying an additional 1,102 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in DTE Energy in the fourth quarter valued at $121,000. Smartleaf Asset Management LLC increased its holdings in DTE Energy by 78.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,551 shares of the utilities provider’s stock valued at $308,000 after buying an additional 1,118 shares during the last quarter. Finally, Metis Global Partners LLC increased its holdings in DTE Energy by 5.0% in the fourth quarter. Metis Global Partners LLC now owns 6,963 shares of the utilities provider’s stock valued at $841,000 after buying an additional 330 shares during the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DTE. Barclays lowered DTE Energy from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $137.00 to $135.00 in a report on Thursday, February 20th. KeyCorp lowered DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Morgan Stanley decreased their price objective on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Guggenheim upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Scotiabank upped their price objective on shares of DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research note on Thursday, December 12th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $135.67.

Insider Buying and Selling

In related news, SVP Joann Chavez sold 7,062 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $132.40, for a total transaction of $935,008.80. Following the completion of the transaction, the senior vice president now directly owns 14,067 shares of the company’s stock, valued at $1,862,470.80. This 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 link. Also, COO Matthew T. Paul sold 3,801 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $129.56, for a total transaction of $492,457.56. Following the transaction, 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. Insiders sold 11,877 shares of company stock valued at $1,559,205 over the last ninety days. Corporate insiders own 0.61% of the company’s stock.

DTE Energy Price Performance

Shares of DTE opened at $135.20 on Tuesday. DTE Energy has a fifty-two week low of $103.06 and a fifty-two week high of $135.24. The company has a market capitalization of $28.02 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 2.41 and a beta of 0.68. The firm has a 50-day simple moving average of $123.77 and a 200-day simple moving average of $123.93. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71.

DTE Energy (NYSE:DTE) last announced its earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share 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%. On average, equities research analysts anticipate that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Dividend Announcement

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

DTE Energy 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.