SVB Wealth LLC Makes New $220,000 Investment in DTE Energy (NYSE:DTE)

SVB Wealth LLC purchased a new position in shares of DTE Energy (NYSE:DTE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,992 shares of the utilities provider’s stock, valued at approximately $220,000.

A number of other large investors also recently made changes to their positions in the business. Romano Brothers AND Company purchased a new position in shares of DTE Energy during the 4th quarter worth $291,000. Louisiana State Employees Retirement System purchased a new position in shares of DTE Energy in the 4th quarter worth $1,378,000. MV Capital Management Inc. raised its position in shares of DTE Energy by 104.4% in the 4th quarter. MV Capital Management Inc. now owns 280 shares of the utilities provider’s stock worth $31,000 after buying an additional 143 shares during the period. Vaughan David Investments LLC IL raised its position in shares of DTE Energy by 8.4% in the 4th quarter. Vaughan David Investments LLC IL now owns 323,961 shares of the utilities provider’s stock worth $35,720,000 after buying an additional 24,974 shares during the period. Finally, Perigon Wealth Management LLC raised its position in shares of DTE Energy by 13.2% in the 4th quarter. Perigon Wealth Management LLC now owns 8,112 shares of the utilities provider’s stock worth $894,000 after buying an additional 945 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DTE. KeyCorp increased their target price on DTE Energy from $106.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, January 4th. Scotiabank cut their target price on DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating on the stock in a research report on Monday. Morgan Stanley raised their price objective on DTE Energy from $108.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. BMO Capital Markets raised their price objective on DTE Energy from $111.00 to $113.00 and gave the company a “market perform” rating in a research report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. raised their price objective on DTE Energy from $118.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $115.10.

Insider Activity

In related news, COO Matthew T. Paul sold 5,850 shares of DTE Energy stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $106.92, for a total value of $625,482.00. Following the completion of the transaction, the chief operating officer now directly owns 6,951 shares in the company, valued at $743,200.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Tracy J. Myrick sold 600 shares of DTE Energy stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $107.04, for a total value of $64,224.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,462 shares in the company, valued at $370,572.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Matthew T. Paul sold 5,850 shares of DTE Energy stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $106.92, for a total value of $625,482.00. Following the completion of the transaction, the chief operating officer now owns 6,951 shares of the company’s stock, valued at $743,200.92. The disclosure for this sale can be found here. Insiders sold 20,095 shares of company stock worth $2,168,183 over the last ninety days. Corporate insiders own 0.28% of the company’s stock.

DTE Energy Stock Up 1.4 %

Shares of DTE Energy stock opened at $110.12 on Tuesday. The business has a 50-day moving average of $108.81 and a 200-day moving average of $105.88. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.60 and a quick ratio of 0.42. The company has a market capitalization of $22.79 billion, a PE ratio of 16.29, a P/E/G ratio of 2.70 and a beta of 0.64. DTE Energy has a 1-year low of $90.14 and a 1-year high of $116.73.

DTE Energy (NYSE:DTE) last announced its earnings results on Thursday, February 8th. The utilities provider reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.01. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $4.97 billion. DTE Energy had a return on equity of 11.00% and a net margin of 10.96%. During the same period last year, the firm earned $1.31 earnings per share. As a group, equities analysts forecast that DTE Energy will post 6.71 EPS for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, March 18th were paid a dividend of $1.02 per share. The ex-dividend date of this dividend was Friday, March 15th. This represents a $4.08 annualized dividend and a dividend yield of 3.71%. DTE Energy’s dividend payout ratio is presently 60.36%.

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.