Balanced Wealth Group LLC Buys New Stake in DTE Energy (NYSE:DTE)

Balanced Wealth Group LLC purchased a new stake in shares of DTE Energy (NYSE:DTE) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,987 shares of the utilities provider’s stock, valued at approximately $329,000.

A number of other hedge funds also recently bought and sold shares of DTE. Raymond James & Associates raised its holdings in DTE Energy by 7.7% during the 3rd quarter. Raymond James & Associates now owns 196,617 shares of the utilities provider’s stock valued at $19,520,000 after buying an additional 14,040 shares during the period. Forsta AP Fonden raised its position in DTE Energy by 22.9% during the 3rd quarter. Forsta AP Fonden now owns 30,100 shares of the utilities provider’s stock valued at $2,988,000 after purchasing an additional 5,600 shares in the last quarter. Telemus Capital LLC lifted its holdings in shares of DTE Energy by 3.1% in the 3rd quarter. Telemus Capital LLC now owns 3,709 shares of the utilities provider’s stock worth $368,000 after buying an additional 111 shares during the period. New York State Teachers Retirement System grew its position in shares of DTE Energy by 5.7% during the 3rd quarter. New York State Teachers Retirement System now owns 229,998 shares of the utilities provider’s stock worth $22,834,000 after buying an additional 12,420 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of DTE Energy by 6.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 49,507 shares of the utilities provider’s stock valued at $4,915,000 after buying an additional 2,883 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Insider Buying and Selling

In other DTE Energy news, COO Matthew T. Paul sold 5,850 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $106.92, for a total value of $625,482.00. Following the sale, the chief operating officer now directly owns 6,951 shares in the company, valued at approximately $743,200.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Robert A. Richard sold 4,800 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $107.25, for a total transaction 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 SEC, which is accessible through this link. Also, COO Matthew T. Paul sold 5,850 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $106.92, for a total value of $625,482.00. Following the sale, the chief operating officer now owns 6,951 shares in the company, valued at $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 valued at $2,168,183. 0.61% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on DTE shares. BMO Capital Markets boosted their price target on shares of DTE Energy from $111.00 to $113.00 and gave the company a “market perform” rating in a report on Wednesday, April 17th. JPMorgan Chase & Co. increased their target price on DTE Energy from $118.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, March 13th. Wolfe Research cut DTE Energy from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 16th. Morgan Stanley upped their price objective on shares of DTE Energy from $108.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Finally, Barclays boosted their target price on shares of DTE Energy from $115.00 to $119.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, DTE Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.50.

DTE Energy Stock Performance

NYSE:DTE traded up $1.39 during trading hours on Wednesday, reaching $114.73. 907,941 shares of the stock were exchanged, compared to its average volume of 1,176,321. The company has a quick ratio of 0.54, a current ratio of 0.75 and a debt-to-equity ratio of 1.72. DTE Energy has a 52 week low of $90.14 and a 52 week high of $116.73. The firm has a 50 day simple moving average of $109.74 and a 200-day simple moving average of $106.98. The stock has a market capitalization of $23.74 billion, a P/E ratio of 18.64, a P/E/G ratio of 2.81 and a beta of 0.64.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.67 EPS for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.04). The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.81 billion. DTE Energy had a net margin of 10.36% and a return on equity of 11.53%. As a group, sell-side analysts forecast that DTE Energy will post 6.69 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be paid a $1.02 dividend. The ex-dividend date is Monday, June 17th. This represents a $4.08 annualized dividend and a dividend yield of 3.56%. DTE Energy’s payout ratio is 66.78%.

About DTE Energy

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.