DTE Energy (NYSE:DTE) Shares Bought by California Public Employees Retirement System

California Public Employees Retirement System raised its holdings in DTE Energy (NYSE:DTE) by 0.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,242,920 shares of the utilities provider’s stock after acquiring an additional 9,944 shares during the period. California Public Employees Retirement System’s holdings in DTE Energy were worth $137,044,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. PBMares Wealth Management LLC grew its stake in shares of DTE Energy by 4.5% in the 4th 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 period. Cullen Frost Bankers Inc. grew its stake in shares of DTE Energy by 17.0% in the 3rd 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 period. Telemus Capital LLC grew its stake 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 valued at $368,000 after buying an additional 111 shares during the period. ASB Consultores LLC boosted its position in shares of DTE Energy by 5.6% during the 3rd quarter. ASB Consultores LLC now owns 2,135 shares of the utilities provider’s stock worth $212,000 after purchasing an additional 114 shares during the period. Finally, Secure Asset Management LLC boosted its position in shares of DTE Energy by 1.7% during the 4th quarter. Secure Asset Management LLC now owns 7,688 shares of the utilities provider’s stock worth $848,000 after purchasing an additional 127 shares during the period. Institutional investors and hedge funds own 76.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Guggenheim cut shares of DTE Energy from a “buy” rating to a “neutral” rating and set a $111.00 price objective for the company. in a research report on Monday, January 22nd. Wolfe Research cut shares of DTE Energy from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, January 16th. Scotiabank lowered their price objective on shares of DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating for the company in a research report on Monday. JPMorgan Chase & Co. increased their price objective on shares of DTE Energy from $118.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 13th. Finally, Morgan Stanley increased their price objective on shares of DTE Energy from $108.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $115.10.

DTE Energy Stock Performance

Shares of DTE stock opened at $110.11 on Wednesday. The company has a market cap of $22.79 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 2.74 and a beta of 0.64. The stock has a 50 day simple moving average of $108.93 and a 200-day simple moving average of $105.98. DTE Energy has a 12-month low of $90.14 and a 12-month high of $116.73. The company has a current ratio of 0.60, a quick ratio of 0.42 and a debt-to-equity ratio of 1.58.

DTE Energy (NYSE:DTE) last issued its earnings results on Thursday, February 8th. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.01. The business 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 period in the prior year, the business posted $1.31 EPS. On average, equities analysts forecast that DTE Energy will post 6.71 EPS for the current year.

DTE Energy Dividend Announcement

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

Insider Transactions at DTE Energy

In other news, 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 transaction of $625,482.00. Following the completion of the transaction, the chief operating officer now directly owns 6,951 shares of the company’s stock, valued at approximately $743,200.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, COO Matthew T. Paul sold 5,850 shares of the firm’s 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 completion of the transaction, the chief operating officer now directly owns 6,951 shares of the company’s stock, 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. Also, CAO Tracy J. Myrick sold 600 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 3,462 shares of the company’s stock, valued at $370,572.48. The disclosure for this sale can be found here. In the last three months, insiders sold 20,095 shares of company stock valued at $2,168,183. Corporate insiders own 0.28% of the company’s stock.

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.