Valley Brook Capital Group Makes New Investment in DTE Energy (NYSE:DTE)


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Valley Brook Capital Group purchased a new position in DTE Energy (NYSE:DTE) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 600 shares of the utilities provider’s stock, valued at approximately $72,000.

Several other hedge funds have also modified their holdings of DTE. Mcmillion Capital Management Inc. bought a new stake in shares of DTE Energy during the fourth quarter valued at approximately $32,000. Heritage Wealth Advisors bought a new stake in shares of DTE Energy during the fourth quarter valued at approximately $36,000. tru Independence LLC bought a new stake in shares of DTE Energy during the fourth quarter valued at approximately $37,000. Charter Oak Capital Management LLC bought a new stake in shares of DTE Energy during the fourth quarter valued at approximately $37,000. Finally, Arkadios Wealth Advisors bought a new stake in shares of DTE Energy during the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 73.56% of the company’s stock.

Several equities research analysts recently weighed in on the company. Bank of America restated a “neutral” rating and set a $119.00 price target (down from $133.00) on shares of DTE Energy in a research report on Monday, March 15th. Morgan Stanley boosted their target price on DTE Energy from $137.00 to $141.00 and gave the stock an “equal weight” rating in a report on Thursday, March 25th. Credit Suisse Group dropped their target price on DTE Energy from $131.00 to $128.00 and set a “neutral” rating on the stock in a report on Tuesday, January 19th. KeyCorp dropped their target price on DTE Energy from $140.00 to $138.00 and set an “overweight” rating on the stock in a report on Tuesday, January 12th. Finally, Evercore ISI raised DTE Energy from an “in-line” rating to an “outperform” rating in a report on Thursday, January 21st. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. DTE Energy has an average rating of “Buy” and an average target price of $131.23.

DTE stock opened at $135.70 on Thursday. DTE Energy has a 1-year low of $92.39 and a 1-year high of $136.09. The business has a fifty day moving average price of $126.55 and a 200-day moving average price of $123.19. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.12 and a quick ratio of 0.88. The stock has a market capitalization of $26.29 billion, a P/E ratio of 19.22, a P/E/G ratio of 3.03 and a beta of 0.55.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Thursday, February 18th. The utilities provider reported $1.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.15. DTE Energy had a return on equity of 11.43% and a net margin of 11.30%. The firm had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter in the previous year, the business earned $1.35 earnings per share. As a group, analysts anticipate that DTE Energy will post 7.02 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Monday, March 15th will be given a dividend of $1.085 per share. This represents a $4.34 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Friday, March 12th. DTE Energy’s dividend payout ratio (DPR) is presently 68.89%.

In related news, CAO Mark C. Rolling sold 2,389 shares of the company’s stock in a transaction on Wednesday, February 24th. The stock was sold at an average price of $124.45, for a total transaction of $297,311.05. Following the completion of the sale, the chief accounting officer now owns 11,000 shares in the company, valued at $1,368,950. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David A. Thomas acquired 395 shares of DTE Energy stock in a transaction that occurred on Wednesday, February 24th. The shares were purchased at an average price of $126.56 per share, with a total value of $49,991.20. Following the transaction, the director now owns 2,068 shares of the company’s stock, valued at approximately $261,726.08. The disclosure for this purchase can be found here. 0.57% of the stock is currently owned by corporate 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 approximately 2.2 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.

See Also: Special Dividends

Institutional Ownership by Quarter for DTE Energy (NYSE:DTE)

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