DTE Energy (NYSE:DTE) Shares Bought by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lifted its stake in shares of DTE Energy (NYSE:DTE) by 517.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,400 shares of the utilities provider’s stock after acquiring an additional 48,936 shares during the period. CIBC Private Wealth Group LLC’s holdings in DTE Energy were worth $7,067,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of DTE Energy by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 25,286,380 shares of the utilities provider’s stock worth $3,053,330,000 after purchasing an additional 879,670 shares during the last quarter. State Street Corp boosted 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 acquiring an additional 662,569 shares during the last quarter. Boston Partners grew its stake in DTE Energy by 25.1% in the 4th quarter. Boston Partners now owns 2,899,823 shares of the utilities provider’s stock worth $350,150,000 after acquiring an additional 582,643 shares during the period. Zimmer Partners LP acquired a new position in DTE Energy in the 3rd quarter valued at $69,894,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of DTE Energy during the 3rd quarter worth $66,733,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Performance

NYSE:DTE opened at $137.98 on Wednesday. The firm’s fifty day simple moving average is $129.42 and its 200 day simple moving average is $125.44. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77. DTE Energy has a twelve month low of $103.06 and a twelve month high of $139.05. The firm has a market capitalization of $28.63 billion, a price-to-earnings ratio of 20.38, a PEG 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 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%. As a group, equities research analysts expect that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be issued a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Monday, March 17th. DTE Energy’s dividend payout ratio is presently 64.40%.

Insider Buying and Selling at DTE Energy

In other DTE Energy news, COO Matthew T. Paul sold 3,801 shares of the company’s stock in a transaction dated 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 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Tracy J. Myrick sold 1,014 shares of DTE Energy stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total value of $131,738.88. Following the sale, the chief accounting officer now directly owns 3,437 shares in the company, valued at approximately $446,535.04. The trade was a 22.78 % 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 90 days. 0.33% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Morgan Stanley upped their price objective on shares of DTE Energy from $131.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Guggenheim increased their price objective on shares of DTE Energy from $139.00 to $147.00 and gave the stock a “buy” rating in a report on Friday, March 21st. Scotiabank upped their price target 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 upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $129.00 to $143.00 in a report on Tuesday, December 3rd. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $138.58.

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.