Vestcor Inc Sells 3,110 Shares of DTE Energy (NYSE:DTE)

Vestcor Inc lowered its stake in DTE Energy (NYSE:DTE) by 45.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,702 shares of the utilities provider’s stock after selling 3,110 shares during the quarter. Vestcor Inc’s holdings in DTE Energy were worth $447,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Legacy Investment Solutions LLC bought a new position in shares of DTE Energy during the 3rd quarter worth approximately $30,000. Prospera Private Wealth LLC acquired a new stake in DTE Energy during the 3rd quarter valued at $35,000. Versant Capital Management Inc boosted its position in DTE Energy by 890.0% during the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 267 shares during the period. Coastline Trust Co acquired a new position in shares of DTE Energy in the third quarter valued at $39,000. Finally, Robbins Farley bought a new position in shares of DTE Energy in the fourth quarter valued at about $57,000. Institutional investors and hedge funds own 76.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on DTE. BMO Capital Markets upped their price target on shares of DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Scotiabank increased their target price on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research note on Thursday, December 12th. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Guggenheim upgraded DTE Energy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $129.00 to $143.00 in a research report on Tuesday, December 3rd. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.09.

Insider Transactions at DTE Energy

In related news, COO Matthew T. Paul sold 3,801 shares of DTE Energy stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total transaction of $492,457.56. Following the sale, the chief operating officer now directly owns 6,951 shares in the company, valued at $900,571.56. This trade represents a 35.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Joann Chavez sold 7,062 shares of DTE Energy stock in a transaction that occurred on Monday, February 24th. The stock was 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 in the company, valued at approximately $1,862,470.80. This represents a 33.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,877 shares of company stock valued at $1,559,205. 0.61% of the stock is currently owned by insiders.

DTE Energy Stock Performance

NYSE DTE opened at $135.60 on Tuesday. DTE Energy has a 1 year low of $103.06 and a 1 year high of $138.93. The firm has a market capitalization of $28.10 billion, a price-to-earnings ratio of 20.03, a P/E/G ratio of 2.41 and a beta of 0.59. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77. The firm’s 50 day simple moving average is $126.10 and its 200 day simple moving average is $124.55.

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

DTE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 3.22%. The ex-dividend date is Monday, March 17th. DTE Energy’s payout ratio is 64.40%.

DTE Energy 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.