SOA Wealth Advisors LLC. Makes New Investment in DTE Energy (NYSE:DTE)

SOA Wealth Advisors LLC. purchased a new position in DTE Energy (NYSE:DTE) during the 4th quarter, HoldingsChannel reports. The firm purchased 624 shares of the utilities provider’s stock, valued at approximately $76,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Columbia Asset Management increased its position in DTE Energy by 8.6% in the 4th quarter. Columbia Asset Management now owns 21,475 shares of the utilities provider’s stock worth $2,607,000 after buying an additional 1,706 shares during the period. NuWave Investment Management LLC increased its position in DTE Energy by 30,100.0% in the 4th quarter. NuWave Investment Management LLC now owns 3,322 shares of the utilities provider’s stock worth $403,000 after buying an additional 3,311 shares during the period. Inspire Advisors LLC bought a new position in DTE Energy in the 4th quarter worth approximately $102,000. Oxler Private Wealth LLC bought a new position in DTE Energy in the 4th quarter worth approximately $121,000. Finally, Hsbc Holdings PLC increased its position in DTE Energy by 2.6% in the 4th quarter. Hsbc Holdings PLC now owns 246,475 shares of the utilities provider’s stock worth $29,635,000 after buying an additional 6,251 shares during the period. 73.56% of the stock is currently owned by institutional investors.

Several brokerages have commented on DTE. KeyCorp dropped their price target on DTE Energy from $140.00 to $138.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 12th. Morgan Stanley boosted their price target on DTE Energy from $137.00 to $141.00 and gave the company an “equal weight” rating in a research note on Thursday, March 25th. Evercore ISI raised DTE Energy from an “in-line” rating to an “outperform” rating in a research note on Thursday, January 21st. Bank of America reissued a “neutral” rating and issued a $119.00 price objective (down previously from $133.00) on shares of DTE Energy in a research note on Monday, March 15th. Finally, Credit Suisse Group reduced their price objective on DTE Energy from $131.00 to $128.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 19th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $131.23.

Shares of DTE opened at $135.70 on Thursday. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.46. DTE Energy has a 12-month low of $92.39 and a 12-month high of $136.09. The firm has a market capitalization of $26.29 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 3.03 and a beta of 0.55. The stock’s fifty day simple moving average is $126.55 and its 200-day simple moving average is $123.19.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Thursday, February 18th. The utilities provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.15. DTE Energy had a return on equity of 11.43% and a net margin of 11.30%. The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same quarter in the prior year, the firm posted $1.35 earnings per share. Analysts anticipate that DTE Energy will post 7.02 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Monday, March 15th will be paid a dividend of $1.085 per share. This represents a $4.34 annualized dividend and a dividend yield of 3.20%. The ex-dividend date is Friday, March 12th. DTE Energy’s dividend payout ratio (DPR) is presently 68.89%.

In related news, CAO Mark C. Rolling sold 2,389 shares of the company’s stock in a transaction dated Wednesday, February 24th. The stock was sold at an average price of $124.45, for a total value of $297,311.05. Following the completion of the sale, the chief accounting officer now owns 11,000 shares in the company, valued at $1,368,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David A. Thomas acquired 395 shares of the company’s stock in a transaction that occurred on Wednesday, February 24th. The stock was bought at an average price of $126.56 per share, with a total value of $49,991.20. Following the acquisition, the director now directly owns 2,068 shares of the company’s stock, valued at approximately $261,726.08. The disclosure for this purchase can be found here. Corporate insiders own 0.57% of the company’s stock.

About DTE Energy

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.2 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.

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Institutional Ownership by Quarter for DTE Energy (NYSE:DTE)

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