Gilliland Jeter Wealth Management LLC Purchases Shares of 22,425 DTE Energy (NYSE:DTE)

Gilliland Jeter Wealth Management LLC purchased a new stake in DTE Energy (NYSE:DTE) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 22,425 shares of the utilities provider’s stock, valued at approximately $2,473,000. DTE Energy makes up 1.0% of Gilliland Jeter Wealth Management LLC’s holdings, making the stock its 26th biggest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MV Capital Management Inc. increased its holdings 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 in the last quarter. Milestone Investment Advisors LLC acquired a new position in shares of DTE Energy during the third quarter worth about $36,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of DTE Energy in the third quarter valued at approximately $37,000. Authentikos Wealth Advisory LLC bought a new stake in shares of DTE Energy in the third quarter worth $43,000. Finally, Horizon Bancorp Inc. IN acquired a new position in DTE Energy during the third quarter worth $54,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Tracy J. Myrick sold 600 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was 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 $370,572.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Tracy J. Myrick sold 600 shares of DTE Energy stock in a transaction 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 completion of the sale, the chief accounting officer now owns 3,462 shares of the company’s stock, valued at $370,572.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Matthew T. Paul sold 5,850 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $106.92, for a total transaction 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. Insiders sold 20,095 shares of company stock worth $2,168,183 over the last three months. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. TheStreet upgraded shares of DTE Energy from a “c+” rating to a “b-” rating in a research note on Friday, March 15th. Guggenheim lowered DTE Energy from a “buy” rating to a “neutral” rating and set a $111.00 target price on the stock. in a report on Monday, January 22nd. JPMorgan Chase & Co. increased 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. KeyCorp boosted their price target on DTE Energy from $106.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, January 4th. Finally, Wolfe Research cut DTE Energy from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 16th. 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.10.

DTE Energy Stock Performance

DTE traded down $1.62 during trading hours on Friday, reaching $109.52. The company’s stock had a trading volume of 1,247,739 shares, compared to its average volume of 1,158,886. The company’s 50-day moving average is $109.15 and its 200-day moving average is $106.21. DTE Energy has a 52 week low of $90.14 and a 52 week high of $116.73. The firm has a market cap of $22.66 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 2.73 and a beta of 0.64. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.42 and a current ratio of 0.60.

DTE Energy (NYSE:DTE) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.67 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.04). The company had revenue of $3.24 billion during 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 11.63%. On average, equities analysts forecast that DTE Energy will post 6.69 EPS for the current year.

DTE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, March 18th were issued a $1.02 dividend. The ex-dividend date was Friday, March 15th. This represents a $4.08 annualized dividend and a yield of 3.73%. DTE Energy’s dividend payout ratio is currently 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.