Summit Global Investments Has $2.71 Million Stock Position in DTE Energy (NYSE:DTE)

Summit Global Investments lessened its stake in shares of DTE Energy (NYSE:DTE) by 36.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,436 shares of the utilities provider’s stock after selling 12,939 shares during the quarter. Summit Global Investments’ holdings in DTE Energy were worth $2,709,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Legacy Investment Solutions LLC bought a new stake in DTE Energy during the 3rd quarter worth $30,000. Prospera Private Wealth LLC bought a new stake in shares of DTE Energy during the third quarter worth about $35,000. Versant Capital Management Inc grew its holdings in shares of 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 purchasing an additional 267 shares during the last quarter. Robbins Farley bought a new position in DTE Energy in the 4th quarter valued at approximately $57,000. Finally, Kestra Investment Management LLC acquired a new stake in DTE Energy during the 4th quarter worth approximately $57,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Tracy J. Myrick sold 1,014 shares of DTE Energy stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 3,437 shares of the company’s stock, valued at $446,535.04. The trade was a 22.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Joann Chavez sold 7,062 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $132.40, for a total value of $935,008.80. Following the completion of the sale, the senior vice president now directly owns 14,067 shares of the company’s stock, valued at $1,862,470.80. The trade was a 33.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,877 shares of company stock worth $1,559,205. Insiders own 0.61% of the company’s stock.

DTE Energy Stock Performance

Shares of DTE opened at $137.18 on Friday. DTE Energy has a one year low of $103.06 and a one year high of $138.22. The company has a market cap of $28.47 billion, a PE ratio of 20.26, a P/E/G ratio of 2.41 and a beta of 0.59. The stock has a 50-day moving average of $127.38 and a 200-day moving average of $124.87. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46.

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 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%. On average, equities research analysts predict that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a dividend of $1.09 per share. The ex-dividend date is Monday, March 17th. This represents a $4.36 dividend on an annualized basis and a yield of 3.18%. DTE Energy’s dividend payout ratio (DPR) is presently 64.40%.

Analyst Ratings Changes

Several research firms have recently issued reports on DTE. Guggenheim raised their price target on shares of DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a research note on Friday. Morgan Stanley lifted their target price on DTE Energy from $131.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday. Scotiabank raised their price objective on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. Barclays cut DTE Energy from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $137.00 to $135.00 in a report on Thursday, February 20th. Finally, StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $138.58.

DTE Energy 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.