DTE Energy (NYSE:DTE) Stock Position Cut by Corebridge Financial Inc.

Corebridge Financial Inc. decreased its position in shares of DTE Energy (NYSE:DTE) by 4.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 49,036 shares of the utilities provider’s stock after selling 2,363 shares during the quarter. Corebridge Financial Inc.’s holdings in DTE Energy were worth $5,921,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP raised its stake in shares of DTE Energy by 16.0% in the 4th quarter. Allworth Financial LP now owns 2,438 shares of the utilities provider’s stock worth $293,000 after buying an additional 336 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in DTE Energy by 72.3% during the fourth quarter. Jones Financial Companies Lllp now owns 6,295 shares of the utilities provider’s stock worth $760,000 after acquiring an additional 2,642 shares during the period. Nordea Investment Management AB raised its position in DTE Energy by 2,235.2% in the fourth quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider’s stock worth $26,706,000 after acquiring an additional 211,763 shares in the last quarter. Patton Albertson Miller Group LLC lifted its holdings in DTE Energy by 7.6% in the 4th quarter. Patton Albertson Miller Group LLC now owns 46,931 shares of the utilities provider’s stock valued at $5,667,000 after acquiring an additional 3,306 shares during the last quarter. Finally, M&T Bank Corp boosted its position in shares of DTE Energy by 4.4% during the 4th quarter. M&T Bank Corp now owns 9,432 shares of the utilities provider’s stock valued at $1,139,000 after purchasing an additional 395 shares in the last quarter. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO Matthew T. Paul sold 3,801 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $129.56, for a total value of $492,457.56. Following the transaction, the chief operating officer now owns 6,951 shares in the company, valued at approximately $900,571.56. This represents a 35.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Tracy J. Myrick sold 1,014 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total transaction of $131,738.88. Following the transaction, the chief accounting officer now directly owns 3,437 shares in the company, valued at approximately $446,535.04. The trade was a 22.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,877 shares of company stock valued at $1,559,205 in the last three months. Insiders own 0.33% of the company’s stock.

DTE Energy Price Performance

NYSE DTE opened at $136.47 on Friday. 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 firm has a market capitalization of $28.32 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59. The company has a 50 day simple moving average of $128.84 and a 200-day simple moving average of $125.25. DTE Energy has a 52-week low of $103.06 and a 52-week high of $138.22.

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

DTE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a $1.09 dividend. The ex-dividend date is Monday, March 17th. This represents a $4.36 dividend on an annualized basis and a yield of 3.19%. DTE Energy’s dividend payout ratio (DPR) is currently 64.40%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. BMO Capital Markets increased their target price on shares of DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Scotiabank increased their price objective on DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research report on Thursday, December 12th. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 21st. UBS Group raised DTE Energy from a “neutral” rating to a “buy” rating and upped their target price for the company from $129.00 to $143.00 in a report on Tuesday, December 3rd. Finally, Barclays lowered DTE Energy from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $137.00 to $135.00 in a research report on Thursday, February 20th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, DTE Energy presently has an average rating of “Moderate Buy” and a consensus target price 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.