Jennison Associates LLC Cuts Holdings in DTE Energy (NYSE:DTE)

Jennison Associates LLC trimmed its position in DTE Energy (NYSE:DTE) by 25.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 911,537 shares of the utilities provider’s stock after selling 314,755 shares during the period. Jennison Associates LLC’s holdings in DTE Energy were worth $100,506,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. MV Capital Management Inc. increased its position in DTE Energy by 104.4% during the 4th quarter. MV Capital Management Inc. now owns 280 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 143 shares during the period. Milestone Investment Advisors LLC acquired a new position in DTE Energy during the third quarter worth about $36,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of DTE Energy in the third quarter valued at about $37,000. Authentikos Wealth Advisory LLC acquired a new stake in shares of DTE Energy in the third quarter valued at approximately $43,000. Finally, Horizon Bancorp Inc. IN acquired a new stake in shares of DTE Energy in the third quarter valued at approximately $54,000. 76.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at DTE Energy

In other news, COO Robert A. Richard sold 4,800 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $107.25, for a total value of $514,800.00. Following the completion of the sale, the chief operating officer now owns 26,118 shares of the company’s stock, valued at $2,801,155.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other DTE Energy news, COO Robert A. Richard sold 4,800 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $107.25, for a total transaction of $514,800.00. Following the transaction, the chief operating officer now owns 26,118 shares in the company, valued at $2,801,155.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Matthew T. Paul sold 5,850 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $106.92, for a total value of $625,482.00. Following the completion of the sale, the chief operating officer now directly owns 6,951 shares of the company’s stock, valued at approximately $743,200.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,095 shares of company stock worth $2,168,183. Company insiders own 0.28% of the company’s stock.

DTE Energy Stock Up 1.4 %

Shares of DTE opened at $110.12 on Tuesday. DTE Energy has a fifty-two week low of $90.14 and a fifty-two week high of $116.73. The company’s fifty day moving average is $108.81 and its two-hundred day moving average is $105.88. The firm has a market cap of $22.79 billion, a PE ratio of 16.29, a price-to-earnings-growth ratio of 2.70 and a beta of 0.64. The company has a quick ratio of 0.42, a current ratio of 0.60 and a debt-to-equity ratio of 1.58.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Thursday, February 8th. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.01. The firm had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $4.97 billion. DTE Energy had a return on equity of 11.00% and a net margin of 10.96%. During the same quarter in the previous year, the business earned $1.31 earnings per share. Analysts forecast that DTE Energy will post 6.71 earnings per share for the current year.

DTE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, March 18th were given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend was Friday, March 15th. DTE Energy’s dividend payout ratio (DPR) is presently 60.36%.

Analysts Set New Price Targets

DTE has been the topic of a number of recent research reports. Barclays upped their target price on DTE Energy from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Wolfe Research cut DTE Energy from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, January 16th. JPMorgan Chase & Co. upped their target price on shares of DTE Energy from $118.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, March 13th. Guggenheim downgraded shares of DTE Energy from a “buy” rating to a “neutral” rating and set a $111.00 price target for the company. in a report on Monday, January 22nd. Finally, KeyCorp boosted their price objective on shares of DTE Energy from $106.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, January 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $115.10.

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.