DTE Energy (NYSE:DTE) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. trimmed its position in shares of DTE Energy (NYSE:DTE) by 5.1% during the fourth quarter, Holdings Channel reports. The firm owned 1,941,295 shares of the utilities provider’s stock after selling 104,715 shares during the quarter. Franklin Resources Inc.’s holdings in DTE Energy were worth $234,411,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new position in DTE Energy during the 3rd quarter worth about $30,000. Versant Capital Management Inc increased its stake 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 purchasing an additional 267 shares during the period. Robbins Farley acquired a new stake in shares of DTE Energy during the fourth quarter worth about $57,000. Kestra Investment Management LLC purchased a new position in shares of DTE Energy in the fourth quarter valued at approximately $57,000. Finally, AdvisorNet Financial Inc grew its holdings in shares of DTE Energy by 81.5% in the fourth quarter. AdvisorNet Financial Inc now owns 697 shares of the utilities provider’s stock valued at $84,000 after purchasing an additional 313 shares in the last quarter. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

DTE Energy Trading Down 0.2 %

Shares of DTE Energy stock opened at $137.98 on Wednesday. The company has a fifty day simple moving average of $129.42 and a 200-day simple moving average of $125.44. DTE Energy has a 12-month low of $103.06 and a 12-month high of $139.05. 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 stock has a market cap of $28.63 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 2.41 and a beta of 0.59.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping 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 EPS for the current fiscal year.

DTE Energy Announces Dividend

The company also recently disclosed 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. This represents a $4.36 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s dividend payout ratio is currently 64.40%.

Insider Activity

In other news, SVP Joann Chavez sold 7,062 shares of the company’s stock in a transaction dated 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 approximately $1,862,470.80. This represents a 33.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the chief accounting officer now directly owns 3,437 shares in the company, valued at approximately $446,535.04. This represents a 22.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,877 shares of company stock valued at $1,559,205. 0.33% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 21st. UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $129.00 to $143.00 in a report on Tuesday, December 3rd. KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Scotiabank lifted their price objective on DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research note on Thursday, December 12th. Finally, Morgan Stanley upped their target price on shares of DTE Energy from $131.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, DTE Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.58.

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.