Pointe Capital Management LLC Takes Position in DTE Energy (NYSE:DTE)

Pointe Capital Management LLC purchased a new position in shares of DTE Energy (NYSE:DTE) during the fourth quarter, HoldingsChannel reports. The firm purchased 1,829 shares of the utilities provider’s stock, valued at approximately $202,000.

Several other institutional investors also recently modified their holdings of the business. Axxcess Wealth Management LLC increased its stake in shares of DTE Energy by 58.0% in the fourth quarter. Axxcess Wealth Management LLC now owns 9,220 shares of the utilities provider’s stock valued at $1,017,000 after buying an additional 3,384 shares during the period. Merit Financial Group LLC boosted its holdings in DTE Energy by 19.6% in the fourth quarter. Merit Financial Group LLC now owns 2,432 shares of the utilities provider’s stock valued at $268,000 after acquiring an additional 399 shares during the last quarter. Natixis Advisors L.P. increased its position in DTE Energy by 59.9% during the 4th quarter. Natixis Advisors L.P. now owns 194,531 shares of the utilities provider’s stock valued at $21,449,000 after purchasing an additional 72,889 shares during the period. Hexagon Capital Partners LLC raised its holdings in DTE Energy by 533.6% during the 4th quarter. Hexagon Capital Partners LLC now owns 773 shares of the utilities provider’s stock worth $85,000 after purchasing an additional 651 shares during the last quarter. Finally, Intrust Bank NA lifted its position in shares of DTE Energy by 18.7% in the 4th quarter. Intrust Bank NA now owns 8,477 shares of the utilities provider’s stock worth $935,000 after purchasing an additional 1,337 shares during the period. Institutional investors own 76.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DTE. JPMorgan Chase & Co. increased their price target on DTE Energy from $118.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, March 13th. Scotiabank decreased their target price 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. Morgan Stanley boosted their price target on DTE Energy from $108.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. BMO Capital Markets raised their price objective on shares of DTE Energy from $111.00 to $113.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 17th. Finally, Barclays boosted their target price on shares of DTE Energy from $115.00 to $119.00 and gave the company an “overweight” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.50.

DTE Energy Stock Up 0.8 %

Shares of NYSE DTE traded up $0.84 during mid-day trading on Friday, reaching $112.75. 1,021,105 shares of the company’s stock traded hands, compared to its average volume of 1,192,520. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.75 and a quick ratio of 0.54. The business has a 50-day simple moving average of $109.41 and a 200 day simple moving average of $106.53. The stock has a market cap of $23.33 billion, a P/E ratio of 18.46, a PEG ratio of 2.79 and a beta of 0.64. DTE Energy has a 1-year low of $90.14 and a 1-year high of $116.73.

DTE Energy (NYSE:DTE) last released its quarterly earnings results on Thursday, April 25th. The utilities provider reported $1.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.04). The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.81 billion. DTE Energy had a net margin of 10.36% and a return on equity of 11.53%. On average, analysts expect that DTE Energy will post 6.69 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 3.62%. DTE Energy’s dividend payout ratio (DPR) is currently 66.78%.

Insider Activity at DTE Energy

In other news, CAO Tracy J. Myrick sold 600 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $107.04, for a total value of $64,224.00. Following the completion of the sale, the chief accounting officer now owns 3,462 shares in the company, valued at approximately $370,572.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, SVP Joann Chavez sold 6,070 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $109.19, for a total transaction of $662,783.30. Following the completion of the sale, the senior vice president now directly owns 16,667 shares of the company’s stock, valued at $1,819,869.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Tracy J. Myrick sold 600 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $107.04, for a total transaction of $64,224.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,462 shares in the company, valued at $370,572.48. The disclosure for this sale can be found here. In the last three months, insiders sold 20,095 shares of company stock valued at $2,168,183. 0.61% of the stock is owned by insiders.

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.