DTE Energy (NYSE:DTE) Shares Sold by Swiss National Bank

Swiss National Bank cut its holdings in shares of DTE Energy (NYSE:DTE) by 4.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 584,800 shares of the utilities provider’s stock after selling 29,400 shares during the period. Swiss National Bank owned approximately 0.28% of DTE Energy worth $70,615,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Assetmark Inc. increased its position in shares of DTE Energy by 10.6% in the third quarter. Assetmark Inc. now owns 3,154 shares of the utilities provider’s stock valued at $405,000 after buying an additional 301 shares in the last quarter. Atria Investments Inc increased its holdings in DTE Energy by 23.9% in the 3rd quarter. Atria Investments Inc now owns 11,060 shares of the utilities provider’s stock worth $1,420,000 after acquiring an additional 2,137 shares in the last quarter. Harbour Investments Inc. raised its position in DTE Energy by 65.3% during the third quarter. Harbour Investments Inc. now owns 3,835 shares of the utilities provider’s stock worth $492,000 after acquiring an additional 1,515 shares during the period. Oppenheimer Asset Management Inc. raised its position in DTE Energy by 4.8% during the third quarter. Oppenheimer Asset Management Inc. now owns 5,747 shares of the utilities provider’s stock worth $738,000 after acquiring an additional 262 shares during the period. Finally, Metis Global Partners LLC lifted its holdings in DTE Energy by 1.9% during the third quarter. Metis Global Partners LLC now owns 6,633 shares of the utilities provider’s stock valued at $852,000 after purchasing an additional 126 shares in the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on DTE. KeyCorp downgraded shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. BMO Capital Markets boosted their price objective on DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Morgan Stanley decreased their target price on DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Finally, Barclays downgraded DTE Energy from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $137.00 to $135.00 in a research note on Thursday, February 20th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $137.09.

Insider Buying and Selling

In other DTE Energy news, SVP Joann Chavez sold 7,062 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $132.40, for a total transaction of $935,008.80. Following the transaction, the senior vice president now directly owns 14,067 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. Also, COO Matthew T. Paul sold 3,801 shares of DTE Energy stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total value of $492,457.56. Following the completion of the sale, the chief operating officer now directly owns 6,951 shares of the company’s stock, valued at $900,571.56. The trade was a 35.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,877 shares of company stock valued at $1,559,205. Company insiders own 0.28% of the company’s stock.

DTE Energy Price Performance

Shares of DTE stock opened at $135.42 on Friday. The firm’s 50-day moving average is $125.78 and its two-hundred day moving average is $124.47. DTE Energy has a 12 month low of $103.06 and a 12 month high of $136.28. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46. The company has a market capitalization of $28.07 billion, a PE ratio of 20.00, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping 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%. Analysts predict that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Dividend Announcement

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 issued a $1.09 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $4.36 annualized dividend and a dividend yield of 3.22%. DTE Energy’s dividend payout ratio is currently 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.