Independent Advisor Alliance Has $1.08 Million Position in DTE Energy (NYSE:DTE)

Independent Advisor Alliance raised its stake in shares of DTE Energy (NYSE:DTE) by 6.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,934 shares of the utilities provider’s stock after buying an additional 542 shares during the quarter. Independent Advisor Alliance’s holdings in DTE Energy were worth $1,079,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of DTE. Mizuho Securities USA LLC lifted its holdings in shares of DTE Energy by 44,009.5% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock valued at $903,878,000 after purchasing an additional 7,023,042 shares in the last quarter. State Street Corp lifted its holdings in shares of DTE Energy by 7.0% during the 3rd quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock valued at $1,319,264,000 after purchasing an additional 662,569 shares in the last quarter. Zimmer Partners LP bought a new position in shares of DTE Energy during the 3rd quarter valued at about $69,894,000. Point72 Asset Management L.P. bought a new position in shares of DTE Energy during the 3rd quarter valued at about $66,733,000. Finally, Raymond James Financial Inc. bought a new position in shares of DTE Energy during the 4th quarter valued at about $43,063,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Trading Up 2.0 %

Shares of DTE Energy stock opened at $135.42 on Friday. DTE Energy has a 12-month low of $103.06 and a 12-month high of $136.28. The stock has a market cap of $28.07 billion, a P/E ratio of 20.00, a P/E/G ratio of 2.41 and a beta of 0.59. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. The business’s 50 day moving average is $125.78 and its 200-day moving average is $124.47.

DTE Energy (NYSE:DTE) last announced 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%. Equities research analysts predict that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be issued a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s payout ratio is presently 64.40%.

Insider Buying and Selling

In related news, COO Matthew T. Paul sold 3,801 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $129.56, for a total transaction of $492,457.56. Following the transaction, the chief operating officer now directly owns 6,951 shares of the company’s stock, valued at approximately $900,571.56. The trade was a 35.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Joann Chavez sold 7,062 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $132.40, for a total value 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. The trade was a 33.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,877 shares of company stock valued at $1,559,205. 0.28% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $129.00 to $143.00 in a report on Tuesday, December 3rd. Morgan Stanley cut their price objective on DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Scotiabank boosted their target price on DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research note on Thursday, December 12th. Finally, Guggenheim upgraded DTE Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $137.09.

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.