Morey & Quinn Wealth Partners LLC Makes New Investment in DTE Energy (NYSE:DTE)

Morey & Quinn Wealth Partners LLC acquired a new position in DTE Energy (NYSE:DTE) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,664 shares of the utilities provider’s stock, valued at approximately $201,000.

A number of other large investors also recently modified their holdings of the stock. Allworth Financial LP boosted its holdings in DTE Energy by 16.0% during the fourth quarter. Allworth Financial LP now owns 2,438 shares of the utilities provider’s stock worth $293,000 after purchasing an additional 336 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of DTE Energy by 72.3% in the 4th quarter. Jones Financial Companies Lllp now owns 6,295 shares of the utilities provider’s stock worth $760,000 after buying an additional 2,642 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of DTE Energy by 2,235.2% in the fourth quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider’s stock valued at $26,706,000 after acquiring an additional 211,763 shares in the last quarter. Patton Albertson Miller Group LLC increased its position in shares of 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 valued at $5,667,000 after acquiring an additional 3,306 shares during the last quarter. Finally, M&T Bank Corp lifted its holdings in DTE Energy by 4.4% during the fourth quarter. M&T Bank Corp now owns 9,432 shares of the utilities provider’s stock worth $1,139,000 after acquiring an additional 395 shares during the period. Institutional investors own 76.06% of the company’s stock.

DTE Energy Trading Up 0.8 %

NYSE:DTE opened at $135.55 on Thursday. DTE Energy has a 1 year low of $103.06 and a 1 year high of $138.22. The stock’s fifty day moving average price is $128.34 and its two-hundred day moving average price is $125.10. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46. The company has a market cap of $28.13 billion, a P/E ratio of 20.02, a P/E/G ratio of 2.41 and a beta of 0.59.

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

DTE Energy Announces Dividend

The company 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 dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date is Monday, March 17th. DTE Energy’s dividend payout ratio (DPR) is presently 64.40%.

Analyst Ratings Changes

A number of brokerages have issued reports on DTE. Scotiabank upped their price objective on DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research note on Thursday, December 12th. Barclays downgraded shares of DTE Energy from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $137.00 to $135.00 in a report on Thursday, February 20th. Guggenheim boosted their target price on shares of DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a research note on Friday, March 21st. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Finally, UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $129.00 to $143.00 in a report on Tuesday, December 3rd. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, DTE Energy currently has a consensus rating of “Moderate Buy” and an average target price of $138.58.

Insiders Place Their Bets

In other DTE Energy news, SVP Joann Chavez sold 7,062 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $132.40, for a total value of $935,008.80. Following the transaction, the senior vice president now directly owns 14,067 shares in the company, valued at $1,862,470.80. This represents a 33.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Matthew T. Paul sold 3,801 shares of DTE Energy stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total value of $492,457.56. Following the sale, the chief operating officer now owns 6,951 shares of the company’s stock, valued at approximately $900,571.56. This trade represents a 35.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,877 shares of company stock worth $1,559,205 in the last three months. 0.61% of the stock is currently owned by corporate insiders.

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.