Lockheed Martin Investment Management Co. Sells 1,300 Shares of DTE Energy (NYSE:DTE)

Lockheed Martin Investment Management Co. lowered its holdings in DTE Energy (NYSE:DTE) by 10.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 11,600 shares of the utilities provider’s stock after selling 1,300 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in DTE Energy were worth $1,289,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. PBMares Wealth Management LLC boosted its holdings in DTE Energy by 4.5% in the 4th quarter. PBMares Wealth Management LLC now owns 2,301 shares of the utilities provider’s stock valued at $254,000 after purchasing an additional 100 shares during the period. ASB Consultores LLC lifted its holdings in shares of DTE Energy by 5.6% during the 3rd quarter. ASB Consultores LLC now owns 2,135 shares of the utilities provider’s stock worth $212,000 after acquiring an additional 114 shares during the period. Secure Asset Management LLC boosted its position in shares of DTE Energy by 1.7% during the 4th quarter. Secure Asset Management LLC now owns 7,688 shares of the utilities provider’s stock worth $848,000 after acquiring an additional 127 shares in the last quarter. Executive Wealth Management LLC increased its stake in DTE Energy by 0.6% in the fourth quarter. Executive Wealth Management LLC now owns 21,652 shares of the utilities provider’s stock valued at $2,387,000 after acquiring an additional 128 shares during the last quarter. Finally, Raymond James Trust N.A. increased its stake in DTE Energy by 3.2% in the fourth quarter. Raymond James Trust N.A. now owns 4,204 shares of the utilities provider’s stock valued at $464,000 after acquiring an additional 132 shares during the last quarter. Institutional investors own 76.06% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on DTE. KeyCorp lifted their price objective on shares of DTE Energy from $117.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Morgan Stanley lifted their price objective on shares of DTE Energy from $108.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Scotiabank decreased their price objective on shares of DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 22nd. JPMorgan Chase & Co. lifted their price objective on shares of DTE Energy from $118.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, March 13th. Finally, Barclays lifted their price objective on shares of DTE Energy from $115.00 to $119.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $116.30.

DTE Energy Price Performance

DTE Energy stock traded down $1.42 during mid-day trading on Wednesday, reaching $111.58. The company had a trading volume of 237,796 shares, compared to its average volume of 1,122,672. DTE Energy has a fifty-two week low of $90.14 and a fifty-two week high of $117.44. The company has a current ratio of 0.75, a quick ratio of 0.54 and a debt-to-equity ratio of 1.72. The company has a market cap of $23.09 billion, a P/E ratio of 18.49, a P/E/G ratio of 2.06 and a beta of 0.64. The business has a fifty day simple moving average of $111.17 and a 200 day simple moving average of $108.80.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Thursday, April 25th. The utilities provider reported $1.67 EPS for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.04). The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.81 billion. DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. On average, equities research analysts predict that DTE Energy will post 6.7 earnings per share for the current year.

DTE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be issued a dividend of $1.02 per share. The ex-dividend date is Monday, June 17th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.66%. DTE Energy’s dividend payout ratio (DPR) is presently 66.78%.

Insider Transactions at DTE Energy

In other news, COO Mark W. Stiers sold 10,000 shares of DTE Energy stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $116.00, for a total transaction of $1,160,000.00. Following the transaction, the chief operating officer now owns 41,921 shares in the company, valued at $4,862,836. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.28% of the stock is owned by company 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.