Johnson Financial Group Inc. Takes $1.04 Million Position in DTE Energy (NYSE:DTE)

Johnson Financial Group Inc. acquired a new position in shares of DTE Energy (NYSE:DTE) in the 4th quarter, Holdings Channel reports. The fund acquired 8,704 shares of the utilities provider’s stock, valued at approximately $1,043,000.

Several other large investors have also made changes to their positions in the business. SkyOak Wealth LLC increased its position in DTE Energy by 4.1% in the 4th quarter. SkyOak Wealth LLC now owns 2,174 shares of the utilities provider’s stock worth $262,000 after buying an additional 85 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of DTE Energy by 8.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,205 shares of the utilities provider’s stock worth $146,000 after acquiring an additional 90 shares during the last quarter. Stratos Wealth Partners LTD. increased its position in DTE Energy by 4.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 2,139 shares of the utilities provider’s stock worth $258,000 after acquiring an additional 92 shares during the period. Tidal Investments LLC raised its stake in DTE Energy by 4.0% during the 3rd quarter. Tidal Investments LLC now owns 2,490 shares of the utilities provider’s stock valued at $320,000 after purchasing an additional 96 shares during the last quarter. Finally, Bleakley Financial Group LLC boosted its holdings in DTE Energy by 2.3% in the 4th quarter. Bleakley Financial Group LLC now owns 4,345 shares of the utilities provider’s stock valued at $525,000 after purchasing an additional 96 shares during the period. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Price Performance

DTE Energy stock opened at $134.69 on Friday. The business has a 50 day simple moving average of $133.38 and a 200 day simple moving average of $126.34. 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 $27.95 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 2.41 and a beta of 0.49. DTE Energy has a one year low of $108.40 and a one year high of $140.39.

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, 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%. On average, sell-side analysts forecast that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th were given a $1.09 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $4.36 dividend on an annualized basis and a yield of 3.24%. DTE Energy’s dividend payout ratio (DPR) is presently 64.40%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Barclays downgraded shares of DTE Energy from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $137.00 to $135.00 in a report on Thursday, February 20th. BMO Capital Markets boosted their price target on DTE Energy from $135.00 to $142.00 and gave the company a “market perform” rating in a research note on Monday, April 21st. Morgan Stanley upped their price target on DTE Energy from $131.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Finally, Guggenheim boosted their price objective on DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a research report on Friday, March 21st. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $139.17.

Insiders Place Their Bets

In related news, 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 completion of the transaction, the chief accounting officer now directly owns 3,437 shares of the company’s stock, valued at $446,535.04. The trade was a 22.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Matthew T. Paul sold 3,801 shares of the company’s stock in a transaction dated 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 owns 6,951 shares in the company, valued at approximately $900,571.56. This trade represents a 35.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,877 shares of company stock valued at $1,559,205. 0.33% of the stock is currently owned by insiders.

DTE Energy Company 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.