Larson Financial Group LLC Raises Stake in DTE Energy (NYSE:DTE)

Larson Financial Group LLC grew its stake in DTE Energy (NYSE:DTE) by 20.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,586 shares of the utilities provider’s stock after acquiring an additional 2,614 shares during the quarter. Larson Financial Group LLC’s holdings in DTE Energy were worth $1,882,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp increased its stake in shares of DTE Energy by 7.0% in the 3rd quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock worth $1,319,264,000 after acquiring an additional 662,569 shares during the last quarter. Mizuho Securities USA LLC increased its stake in shares of DTE Energy by 44,009.5% in the 3rd 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. Janus Henderson Group PLC increased its stake in shares of DTE Energy by 2.4% in the 3rd quarter. Janus Henderson Group PLC now owns 2,720,265 shares of the utilities provider’s stock worth $349,309,000 after acquiring an additional 64,880 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of DTE Energy by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,306,664 shares of the utilities provider’s stock worth $157,780,000 after acquiring an additional 31,827 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. increased its stake in shares of DTE Energy by 3.5% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 907,345 shares of the utilities provider’s stock worth $116,512,000 after acquiring an additional 30,909 shares during the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Stock Performance

Shares of DTE Energy stock opened at $131.46 on Friday. The business has a 50-day moving average of $124.61 and a 200 day moving average of $124.16. DTE Energy has a 12 month low of $103.06 and a 12 month high of $136.28. The stock has a market capitalization of $27.24 billion, a price-to-earnings ratio of 19.42, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46.

DTE Energy (NYSE:DTE) last announced its earnings results on Thursday, February 13th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates 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, sell-side analysts forecast that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 3.32%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s payout ratio is presently 64.40%.

Insider Activity

In other news, SVP Joann Chavez sold 7,062 shares of DTE Energy 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 completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Tracy J. Myrick sold 1,014 shares of DTE Energy stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total value of $131,738.88. Following the completion of the transaction, the chief accounting officer now owns 3,437 shares of the company’s stock, valued at $446,535.04. The trade was a 22.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,877 shares of company stock worth $1,559,205. 0.61% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

DTE has been the subject of a number of recent research reports. UBS Group raised DTE Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $129.00 to $143.00 in a research note on Tuesday, December 3rd. BMO Capital Markets raised their price objective on DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Barclays downgraded DTE Energy from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $137.00 to $135.00 in a research report on Thursday, February 20th. Guggenheim raised DTE Energy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $135.67.

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.