Tortoise Investment Management LLC Lowers Stake in DTE Energy (NYSE:DTE)

Tortoise Investment Management LLC reduced its holdings in shares of DTE Energy (NYSE:DTE) by 60.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 393 shares of the utilities provider’s stock after selling 595 shares during the period. Tortoise Investment Management LLC’s holdings in DTE Energy were worth $43,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of DTE. Boston Partners boosted its holdings in shares of DTE Energy by 66.8% in the fourth quarter. Boston Partners now owns 2,542,081 shares of the utilities provider’s stock valued at $280,247,000 after acquiring an additional 1,018,212 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of DTE Energy by 16.4% in the third quarter. Ameriprise Financial Inc. now owns 5,130,348 shares of the utilities provider’s stock valued at $509,081,000 after acquiring an additional 724,561 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of DTE Energy in the fourth quarter valued at about $74,478,000. Capital Research Global Investors lifted its stake in shares of DTE Energy by 1.9% in the fourth quarter. Capital Research Global Investors now owns 20,933,030 shares of the utilities provider’s stock valued at $2,308,076,000 after purchasing an additional 399,646 shares during the period. Finally, Balyasny Asset Management L.P. lifted its stake in shares of DTE Energy by 109.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 555,072 shares of the utilities provider’s stock valued at $61,202,000 after purchasing an additional 289,663 shares during the period. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Stock Performance

Shares of DTE stock traded down $0.40 during trading hours on Friday, reaching $112.14. The stock had a trading volume of 766,328 shares, compared to its average volume of 873,865. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.75 and a quick ratio of 0.54. DTE Energy has a twelve month low of $90.14 and a twelve month high of $117.44. The firm has a 50-day simple moving average of $112.11 and a 200-day simple moving average of $109.70. The firm has a market capitalization of $23.21 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 2.04 and a beta of 0.67.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.04). DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. The business had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.81 billion. As a group, equities analysts forecast that DTE Energy will post 6.7 earnings per share for the current year.

DTE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 17th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is Monday, June 17th. DTE Energy’s dividend payout ratio (DPR) is currently 66.78%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. BMO Capital Markets raised their price objective on shares of DTE Energy from $111.00 to $113.00 and gave the company a “market perform” rating in a research note on Wednesday, April 17th. KeyCorp raised their price objective on shares of DTE Energy from $117.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. TheStreet upgraded shares of DTE Energy from a “c+” rating to a “b-” rating in a research report on Friday, March 15th. Morgan Stanley lifted their target price on shares of DTE Energy from $108.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Finally, JPMorgan Chase & Co. lifted their target price on shares of DTE Energy from $118.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $115.44.

Insider Buying and Selling

In related news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $115.07, for a total transaction of $402,745.00. Following the transaction, the insider now owns 59,475 shares of the company’s stock, valued at $6,843,788.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $115.07, for a total value of $402,745.00. Following the sale, the insider now owns 59,475 shares in the company, valued at approximately $6,843,788.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Lisa A. Muschong sold 1,198 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $116.61, for a total transaction of $139,698.78. Following the completion of the sale, the vice president now owns 4,271 shares in the company, valued at approximately $498,041.31. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,698 shares of company stock valued at $1,702,444. 0.61% of the stock is owned by company 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.