Inceptionr LLC Invests $1.89 Million in DTE Energy (NYSE:DTE)

Inceptionr LLC purchased a new position in DTE Energy (NYSE:DTE) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 15,653 shares of the utilities provider’s stock, valued at approximately $1,890,000.

A number of other hedge funds have also modified their holdings of DTE. Mizuho Securities USA LLC increased its stake in shares of DTE Energy by 44,009.5% in the third quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock worth $903,878,000 after acquiring an additional 7,023,042 shares during the last quarter. State Street Corp increased its position in DTE Energy by 7.0% during the third quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock worth $1,319,264,000 after buying an additional 662,569 shares during the last quarter. Zimmer Partners LP acquired a new position in DTE Energy during the third quarter worth $69,894,000. Point72 Asset Management L.P. acquired a new position in DTE Energy during the third quarter worth $66,733,000. Finally, Raymond James Financial Inc. acquired a new position in DTE Energy during the fourth quarter worth $43,063,000. 76.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. BMO Capital Markets increased 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 report on Tuesday, February 18th. Guggenheim raised shares of DTE Energy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Barclays downgraded shares of DTE Energy from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $137.00 to $135.00 in a research report on Thursday, February 20th. Scotiabank increased their target price on shares of DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. Finally, UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $129.00 to $143.00 in a research report on Tuesday, December 3rd. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.67.

DTE Energy Stock Up 0.1 %

NYSE DTE opened at $132.06 on Thursday. 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 firm has a 50-day simple moving average of $124.22 and a 200 day simple moving average of $124.05. DTE Energy has a twelve month low of $103.06 and a twelve month high of $136.28. The stock has a market cap of $27.37 billion, a PE ratio of 19.51, a PEG ratio of 2.41 and a beta of 0.68.

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 net margin of 11.27% and a return on equity of 12.42%. On average, research analysts forecast that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid a $1.09 dividend. This represents a $4.36 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s payout ratio is presently 64.40%.

Insider Activity at DTE Energy

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 value of $935,008.80. Following the completion of the sale, the senior vice president now owns 14,067 shares in the company, valued at approximately $1,862,470.80. This trade represents a 33.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Tracy J. Myrick sold 1,014 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total transaction of $131,738.88. Following the transaction, the chief accounting officer now owns 3,437 shares of the company’s stock, valued at approximately $446,535.04. This represents a 22.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,877 shares of company stock worth $1,559,205. Company insiders own 0.61% of the company’s stock.

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.