Morton Community Bank Has $3.43 Million Stock Holdings in DTE Energy (NYSE:DTE)

Morton Community Bank lifted its stake in shares of DTE Energy (NYSE:DTE) by 1.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,436 shares of the utilities provider’s stock after purchasing an additional 415 shares during the period. Morton Community Bank’s holdings in DTE Energy were worth $3,434,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Legacy Investment Solutions LLC bought a new position in DTE Energy in the third quarter valued at about $30,000. Prospera Private Wealth LLC acquired a new position in shares of DTE Energy during the 3rd quarter worth about $35,000. Ashton Thomas Securities LLC acquired a new position in DTE Energy during the third quarter valued at approximately $35,000. Versant Capital Management Inc increased its holdings in DTE Energy by 890.0% during the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock worth $36,000 after buying an additional 267 shares during the last quarter. Finally, Coastline Trust Co bought a new position in shares of DTE Energy in the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Price Performance

Shares of DTE opened at $131.46 on Monday. The business has a 50-day moving average of $124.61 and a 200-day moving average of $124.17. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46. The company has a market capitalization of $27.24 billion, a price-to-earnings ratio of 19.42, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59. DTE Energy has a 1 year low of $103.06 and a 1 year high of $136.28.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. As a group, equities research analysts anticipate that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 3.32%. The ex-dividend date is Monday, March 17th. DTE Energy’s dividend payout ratio is presently 64.40%.

Wall Street Analyst Weigh In

DTE has been the topic of a number of research analyst reports. Guggenheim raised shares of DTE Energy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. BMO Capital Markets boosted their target price on DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. Scotiabank increased their price objective on shares of DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research report on Thursday, December 12th. Barclays downgraded shares of DTE Energy from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $137.00 to $135.00 in a research report on Thursday, February 20th. Finally, KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $135.67.

Insiders Place Their Bets

In other news, CAO Tracy J. Myrick sold 1,014 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total value of $131,738.88. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Joann Chavez sold 7,062 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $132.40, for a total value of $935,008.80. Following the transaction, the senior vice president now directly owns 14,067 shares in the company, valued at approximately $1,862,470.80. This trade represents a 33.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,877 shares of company stock worth $1,559,205. 0.61% of the stock is currently 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.