Insider Selling: DTE Energy (NYSE:DTE) SVP Sells 7,062 Shares of Stock

DTE Energy (NYSE:DTE) SVP Joann Chavez sold 7,062 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $132.40, for a total value of $935,008.80. Following the completion of the transaction, the senior vice president now directly owns 14,067 shares of the company’s stock, valued at approximately $1,862,470.80. This represents a 33.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

DTE Energy Stock Performance

Shares of DTE Energy stock opened at $132.09 on Friday. The firm has a market cap of $27.37 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 2.41 and a beta of 0.68. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. DTE Energy has a 52 week low of $103.06 and a 52 week high of $133.49. The business’s fifty day simple moving average is $123.20 and its 200-day simple moving average is $123.71.

DTE Energy (NYSE:DTE) last posted its earnings results on Thursday, February 13th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. Equities analysts forecast that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be issued a $1.09 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $4.36 annualized dividend and a yield of 3.30%. DTE Energy’s dividend payout ratio (DPR) is presently 64.40%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on DTE shares. Morgan Stanley reduced their target price on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Scotiabank increased their price objective on shares of DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a report on Thursday, December 12th. UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $129.00 to $143.00 in a research note on Tuesday, December 3rd. BMO Capital Markets upped their price target on DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Finally, StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.67.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Allworth Financial LP raised its holdings in shares of DTE Energy by 16.0% in the 4th quarter. Allworth Financial LP now owns 2,438 shares of the utilities provider’s stock valued at $293,000 after buying an additional 336 shares during the period. Nordea Investment Management AB increased its stake in DTE Energy by 2,235.2% during the fourth quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider’s stock worth $26,706,000 after purchasing an additional 211,763 shares during the period. Patton Albertson Miller Group LLC increased its stake in DTE Energy by 7.6% during the fourth quarter. Patton Albertson Miller Group LLC now owns 46,931 shares of the utilities provider’s stock worth $5,667,000 after purchasing an additional 3,306 shares during the period. Hancock Whitney Corp lifted its position in shares of DTE Energy by 80.0% during the third quarter. Hancock Whitney Corp now owns 12,885 shares of the utilities provider’s stock worth $1,655,000 after purchasing an additional 5,725 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new position in shares of DTE Energy in the third quarter valued at approximately $650,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

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.