MeadowBrook Investment Advisors LLC Takes $288,000 Position in DTE Energy (NYSE:DTE)

MeadowBrook Investment Advisors LLC acquired a new position in shares of DTE Energy (NYSE:DTE) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 2,616 shares of the utilities provider’s stock, valued at approximately $288,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DTE. Raymond James & Associates lifted its position in shares of DTE Energy by 7.7% in the third quarter. Raymond James & Associates now owns 196,617 shares of the utilities provider’s stock valued at $19,520,000 after acquiring an additional 14,040 shares in the last quarter. Independent Advisor Alliance lifted its holdings in shares of DTE Energy by 85.6% in the 3rd quarter. Independent Advisor Alliance now owns 11,770 shares of the utilities provider’s stock worth $1,169,000 after purchasing an additional 5,428 shares during the last quarter. Forsta AP Fonden raised its holdings in shares of DTE Energy by 22.9% during the third quarter. Forsta AP Fonden now owns 30,100 shares of the utilities provider’s stock valued at $2,988,000 after buying an additional 5,600 shares during the last quarter. Telemus Capital LLC lifted its stake in shares of DTE Energy by 3.1% in the 3rd quarter. Telemus Capital LLC now owns 3,709 shares of the utilities provider’s stock worth $368,000 after acquiring an additional 111 shares during the period. Finally, New York State Teachers Retirement System lifted its holdings in shares of DTE Energy by 5.7% in the third quarter. New York State Teachers Retirement System now owns 229,998 shares of the utilities provider’s stock valued at $22,834,000 after buying an additional 12,420 shares during the period. Institutional investors and hedge funds own 76.06% of the company’s stock.

Analyst Upgrades and Downgrades

DTE has been the subject of several research reports. Scotiabank reduced their price objective on DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating for the company in a research note on Monday, April 22nd. Wolfe Research lowered DTE Energy from an “outperform” rating to a “peer perform” rating in a report on Tuesday, January 16th. JPMorgan Chase & Co. raised their price target on DTE Energy from $118.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, March 13th. BMO Capital Markets upped their target price on shares of DTE Energy from $111.00 to $113.00 and gave the company a “market perform” rating in a research note on Wednesday, April 17th. Finally, Guggenheim lowered DTE Energy from a “buy” rating to a “neutral” rating and set a $111.00 target price for the company. in a research note on Monday, January 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.50.

Insiders Place Their Bets

In other DTE Energy news, SVP Joann Chavez sold 6,070 shares of DTE Energy stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $109.19, for a total value of $662,783.30. Following the completion of the sale, the senior vice president now owns 16,667 shares of the company’s stock, valued at approximately $1,819,869.73. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, SVP Joann Chavez sold 6,070 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $109.19, for a total value of $662,783.30. Following the completion of the sale, the senior vice president now owns 16,667 shares in the company, valued at approximately $1,819,869.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Matthew T. Paul sold 5,850 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $106.92, for a total value of $625,482.00. Following the transaction, the chief operating officer now owns 6,951 shares in the company, valued at $743,200.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,095 shares of company stock worth $2,168,183. Company insiders own 0.28% of the company’s stock.

DTE Energy Stock Up 0.2 %

Shares of DTE traded up $0.21 during trading hours on Tuesday, hitting $112.70. The stock had a trading volume of 161,237 shares, compared to its average volume of 1,171,451. The firm has a market capitalization of $23.32 billion, a P/E ratio of 18.41, a price-to-earnings-growth ratio of 2.81 and a beta of 0.64. DTE Energy has a 1-year low of $90.14 and a 1-year high of $116.73. The firm has a 50 day simple moving average of $109.62 and a 200-day simple moving average of $106.87. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.75 and a quick ratio of 0.54.

DTE Energy (NYSE:DTE) last issued its earnings results on Thursday, April 25th. The utilities provider reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.04). DTE Energy had a net margin of 10.36% and a return on equity of 11.53%. The firm had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.81 billion. Sell-side analysts predict that DTE Energy will post 6.69 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 17th will be issued a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.62%. DTE Energy’s dividend payout ratio is presently 66.78%.

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.