Larson Financial Group LLC Cuts Stock Holdings in DTE Energy (NYSE:DTE)

Larson Financial Group LLC decreased its stake in shares of DTE Energy (NYSE:DTE) by 4.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 14,497 shares of the utilities provider’s stock after selling 722 shares during the period. Larson Financial Group LLC’s holdings in DTE Energy were worth $1,598,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. PBMares Wealth Management LLC boosted its position in shares of DTE Energy by 4.5% during the fourth quarter. PBMares Wealth Management LLC now owns 2,301 shares of the utilities provider’s stock valued at $254,000 after buying an additional 100 shares during the last quarter. Cullen Frost Bankers Inc. boosted its position in shares of DTE Energy by 17.0% during the third quarter. Cullen Frost Bankers Inc. now owns 702 shares of the utilities provider’s stock valued at $70,000 after buying an additional 102 shares during the last quarter. Telemus Capital LLC boosted its position in shares of DTE Energy by 3.1% during the third quarter. Telemus Capital LLC now owns 3,709 shares of the utilities provider’s stock valued at $368,000 after buying an additional 111 shares during the last quarter. ASB Consultores LLC boosted its position in shares of DTE Energy by 5.6% during the third quarter. ASB Consultores LLC now owns 2,135 shares of the utilities provider’s stock valued at $212,000 after buying an additional 114 shares during the last quarter. Finally, Secure Asset Management LLC boosted its position in shares of DTE Energy by 1.7% during the fourth quarter. Secure Asset Management LLC now owns 7,688 shares of the utilities provider’s stock valued at $848,000 after buying an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Insider Transactions at DTE Energy

In related news, CAO Tracy J. Myrick sold 600 shares of DTE Energy stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $107.04, for a total transaction of $64,224.00. Following the sale, the chief accounting officer now directly owns 3,462 shares in the company, valued at $370,572.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other DTE Energy news, SVP Joann Chavez sold 6,070 shares of DTE Energy stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $109.19, for a total transaction of $662,783.30. Following the completion of the transaction, the senior vice president now owns 16,667 shares in the company, valued at $1,819,869.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Tracy J. Myrick sold 600 shares of DTE Energy stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $107.04, for a total value of $64,224.00. Following the transaction, the chief accounting officer now owns 3,462 shares of the company’s stock, valued at approximately $370,572.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,095 shares of company stock worth $2,168,183. 0.28% of the stock is currently owned by insiders.

DTE Energy Price Performance

Shares of NYSE DTE traded up $0.34 during trading hours on Tuesday, reaching $110.46. 283,701 shares of the stock traded hands, compared to its average volume of 1,181,031. The company has a market capitalization of $22.86 billion, a P/E 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 has a 52-week low of $90.14 and a 52-week high of $116.73. The company’s 50-day simple moving average is $108.81 and its two-hundred day simple moving average is $105.88.

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, topping the consensus estimate of $1.96 by $0.01. DTE Energy had a return on equity of 11.00% and a net margin of 10.96%. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $4.97 billion. During the same period last year, the company earned $1.31 EPS. Equities research analysts forecast that DTE Energy will post 6.71 EPS for the current year.

DTE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, March 18th were given a $1.02 dividend. The ex-dividend date was Friday, March 15th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.69%. DTE Energy’s dividend payout ratio is currently 60.36%.

Analysts Set New Price Targets

DTE has been the topic of several research analyst reports. KeyCorp boosted their price objective on DTE Energy from $106.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, January 4th. JPMorgan Chase & Co. upped their price target on DTE Energy from $118.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, March 13th. Morgan Stanley increased their price objective on DTE Energy from $108.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. TheStreet raised DTE Energy from a “c+” rating to a “b-” rating in a report on Friday, March 15th. Finally, Wolfe Research cut DTE Energy from an “outperform” rating to a “peer perform” rating in a report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, DTE Energy presently has a consensus rating of “Moderate Buy” and an average 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.