Dahring Cusmano LLC Takes $236,000 Position in DTE Energy (NYSE:DTE)

Dahring Cusmano LLC acquired a new stake in shares of DTE Energy (NYSE:DTE) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,957 shares of the utilities provider’s stock, valued at approximately $236,000.

A number of other hedge funds have also recently modified their holdings of the business. State Street Corp grew its position in shares of DTE Energy by 7.0% during the 3rd quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock valued at $1,319,264,000 after acquiring an additional 662,569 shares during the period. Mizuho Securities USA LLC boosted its holdings in DTE Energy by 44,009.5% in the 3rd quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock worth $903,878,000 after buying an additional 7,023,042 shares during the period. Janus Henderson Group PLC boosted its holdings in DTE Energy by 2.4% in the 3rd quarter. Janus Henderson Group PLC now owns 2,720,265 shares of the utilities provider’s stock worth $349,309,000 after buying an additional 64,880 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in DTE Energy by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,274,837 shares of the utilities provider’s stock worth $163,702,000 after buying an additional 14,937 shares during the period. Finally, Duff & Phelps Investment Management Co. boosted its holdings in DTE Energy by 3.5% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 907,345 shares of the utilities provider’s stock worth $116,512,000 after buying an additional 30,909 shares during the period. Institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Up 0.6 %

Shares of NYSE DTE opened at $131.98 on Friday. The firm’s 50-day moving average price is $122.15 and its 200-day moving average price is $123.36. 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 stock has a market capitalization of $27.35 billion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 2.40 and a beta of 0.68. DTE Energy has a 12-month low of $103.06 and a 12-month high of $132.88.

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

DTE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be given a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s dividend payout ratio is 64.40%.

Insider Activity

In related news, CAO Tracy J. Myrick sold 1,014 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total value of $131,738.88. Following the sale, the chief accounting officer now directly owns 3,437 shares of the company’s stock, valued at $446,535.04. This represents a 22.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Matthew T. Paul sold 3,801 shares of the stock in a transaction dated 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 directly owns 6,951 shares in the company, valued at $900,571.56. This trade represents a 35.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on DTE shares. KeyCorp downgraded shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $129.00 to $143.00 in a report on Tuesday, December 3rd. Morgan Stanley dropped their target price on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. BMO Capital Markets upped their target price on shares of DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a report on Tuesday. Finally, Wells Fargo & Company upped their target price on shares of DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Six research 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 a consensus price target of $135.67.

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.