Midwest Capital Advisors LLC Purchases Shares of 2,467 DTE Energy (NYSE:DTE)

Midwest Capital Advisors LLC purchased a new stake in shares of DTE Energy (NYSE:DTE) during the fourth quarter, Holdings Channel.com reports. The firm purchased 2,467 shares of the utilities provider’s stock, valued at approximately $298,000.

A number of other institutional investors and hedge funds have also bought and sold shares of DTE. Farther Finance Advisors LLC boosted its stake in shares of DTE Energy by 2.3% during the third quarter. Farther Finance Advisors LLC now owns 3,588 shares of the utilities provider’s stock valued at $461,000 after purchasing an additional 81 shares during the period. SkyOak Wealth LLC boosted its stake in shares of DTE Energy by 4.1% during the fourth quarter. SkyOak Wealth LLC now owns 2,174 shares of the utilities provider’s stock valued at $262,000 after purchasing an additional 85 shares during the period. Stratos Wealth Partners LTD. boosted its stake in shares of DTE Energy by 4.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 2,139 shares of the utilities provider’s stock valued at $258,000 after purchasing an additional 92 shares during the period. Tidal Investments LLC boosted its stake in shares of DTE Energy by 4.0% during the third quarter. Tidal Investments LLC now owns 2,490 shares of the utilities provider’s stock valued at $320,000 after purchasing an additional 96 shares during the period. Finally, Bleakley Financial Group LLC boosted its stake in shares of DTE Energy by 2.3% during the fourth quarter. Bleakley Financial Group LLC now owns 4,345 shares of the utilities provider’s stock valued at $525,000 after purchasing an additional 96 shares during the period. 76.06% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Tracy J. Myrick sold 1,014 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total transaction of $131,738.88. Following the completion of the transaction, the chief accounting officer now directly owns 3,437 shares in the company, valued at $446,535.04. This trade represents a 22.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Matthew T. Paul sold 3,801 shares of DTE Energy stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $129.56, for a total value of $492,457.56. Following the completion of the sale, the chief operating officer now owns 6,951 shares of the company’s stock, valued at $900,571.56. The trade was 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.

Analysts Set New Price Targets

A number of analysts have recently weighed in on DTE shares. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday. BMO Capital Markets raised their price target on DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Morgan Stanley dropped their price target on DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Scotiabank raised their price target on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research note on Thursday, December 12th. Finally, Barclays lowered DTE Energy from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $137.00 to $135.00 in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, DTE Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.67.

DTE Energy Stock Performance

Shares of DTE Energy stock opened at $131.98 on Monday. 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 firm has a market capitalization of $27.35 billion, a P/E ratio of 19.49, a P/E/G ratio of 2.41 and a beta of 0.68. The business has a fifty day simple moving average of $122.15 and a two-hundred day simple moving average of $123.41. 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 quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.50 by $0.01. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. On average, equities analysts forecast that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

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

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.