Royal London Asset Management Ltd. Raises Stake in DTE Energy (NYSE:DTE)

Royal London Asset Management Ltd. raised its holdings in shares of DTE Energy (NYSE:DTE) by 457.9% during the fourth quarter, Holdings Channel reports. The fund owned 12,535 shares of the utilities provider’s stock after buying an additional 10,288 shares during the period. Royal London Asset Management Ltd.’s holdings in DTE Energy were worth $1,514,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in DTE. SkyOak Wealth LLC grew its holdings in shares of DTE Energy by 4.1% during the 4th quarter. SkyOak Wealth LLC now owns 2,174 shares of the utilities provider’s stock valued at $262,000 after purchasing an additional 85 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in DTE Energy by 8.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,205 shares of the utilities provider’s stock valued at $146,000 after buying an additional 90 shares during the period. Stratos Wealth Partners LTD. grew its stake in shares of DTE Energy by 4.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 2,139 shares of the utilities provider’s stock valued at $258,000 after buying an additional 92 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of DTE Energy by 4.0% in the third quarter. Tidal Investments LLC now owns 2,490 shares of the utilities provider’s stock worth $320,000 after buying an additional 96 shares during the period. Finally, Bleakley Financial Group LLC lifted its stake in shares of DTE Energy by 2.3% in the 4th quarter. Bleakley Financial Group LLC now owns 4,345 shares of the utilities provider’s stock valued at $525,000 after acquiring an additional 96 shares during the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Price Performance

Shares of DTE stock opened at $136.03 on Tuesday. The business’s fifty day moving average is $127.74 and its 200 day moving average is $124.95. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. The stock has a market cap of $28.23 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 2.41 and a beta of 0.59. DTE Energy has a twelve month low of $103.06 and a twelve month high of $138.22.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (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%. Research analysts expect that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid a $1.09 dividend. The ex-dividend date is Monday, March 17th. This represents a $4.36 annualized dividend and a dividend yield of 3.21%. DTE Energy’s payout ratio is currently 64.40%.

Insider Activity at DTE Energy

In other news, SVP Joann Chavez sold 7,062 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $132.40, for a total transaction of $935,008.80. Following the sale, the senior vice president now owns 14,067 shares in the company, valued at $1,862,470.80. This represents a 33.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Matthew T. Paul sold 3,801 shares of DTE Energy stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $129.56, for a total transaction of $492,457.56. Following the completion of the sale, the chief operating officer now owns 6,951 shares of the company’s stock, valued at $900,571.56. This represents a 35.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,877 shares of company stock valued at $1,559,205 in the last 90 days. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Barclays lowered DTE Energy from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $137.00 to $135.00 in a research report on Thursday, February 20th. Scotiabank lifted their target price on shares of 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 shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 21st. UBS Group upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $129.00 to $143.00 in a research report on Tuesday, December 3rd. Finally, Morgan Stanley increased their target price on shares of DTE Energy from $131.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $138.58.

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.