NEOS Investment Management LLC Has $1.31 Million Position in DTE Energy (NYSE:DTE)

NEOS Investment Management LLC raised its stake in DTE Energy (NYSE:DTE) by 29.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 10,866 shares of the utilities provider’s stock after purchasing an additional 2,486 shares during the quarter. NEOS Investment Management LLC’s holdings in DTE Energy were worth $1,312,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes 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 acquiring an additional 85 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in DTE Energy by 8.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,205 shares of the utilities provider’s stock worth $146,000 after purchasing an additional 90 shares during the last quarter. Stratos Wealth Partners LTD. increased its position in DTE Energy by 4.5% in the 4th quarter. Stratos Wealth Partners LTD. now owns 2,139 shares of the utilities provider’s stock worth $258,000 after purchasing an additional 92 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of DTE Energy by 4.0% during the 3rd quarter. Tidal Investments LLC now owns 2,490 shares of the utilities provider’s stock valued at $320,000 after buying an additional 96 shares during the last quarter. Finally, Bleakley Financial Group LLC grew 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 buying an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Insiders Place Their Bets

In other news, 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 owns 14,067 shares in the company, valued at approximately $1,862,470.80. This represents a 33.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Tracy J. Myrick sold 1,014 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total transaction of $131,738.88. Following the transaction, the chief accounting officer now directly owns 3,437 shares of the company’s stock, valued at $446,535.04. The trade was a 22.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,877 shares of company stock worth $1,559,205. 0.33% of the stock is currently owned by company insiders.

DTE Energy Stock Up 0.9 %

DTE opened at $136.47 on Friday. The business has a 50 day moving average of $128.84 and a 200-day moving average of $125.25. The stock has a market capitalization of $28.32 billion, a price-to-earnings ratio of 20.16, 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. DTE Energy has a 1-year low of $103.06 and a 1-year 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 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%. As a group, sell-side analysts anticipate that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be issued a $1.09 dividend. The ex-dividend date is Monday, March 17th. This represents a $4.36 annualized dividend and a yield of 3.19%. DTE Energy’s dividend payout ratio (DPR) is 64.40%.

Analysts Set New Price Targets

A number of research firms have issued reports on DTE. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. BMO Capital Markets lifted their price objective 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. UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $129.00 to $143.00 in a research report on Tuesday, December 3rd. Scotiabank boosted their price target on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. Finally, KeyCorp lowered DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.