Sovereign Financial Group Inc. Invests $377,000 in DTE Energy (NYSE:DTE)

Sovereign Financial Group Inc. acquired a new stake in DTE Energy (NYSE:DTE) during the first quarter, according to its most recent filing with the SEC. The firm acquired 3,363 shares of the utilities provider’s stock, valued at approximately $377,000.

Other institutional investors also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. acquired a new position in shares of DTE Energy during the third quarter worth about $283,000. Envestnet Asset Management Inc. increased its position in DTE Energy by 17.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 72,455 shares of the utilities provider’s stock worth $7,193,000 after purchasing an additional 10,964 shares during the period. LPL Financial LLC raised its stake in shares of DTE Energy by 17.5% during the 3rd quarter. LPL Financial LLC now owns 129,736 shares of the utilities provider’s stock worth $12,880,000 after buying an additional 19,282 shares in the last quarter. Mariner LLC raised its stake in shares of DTE Energy by 8.3% during the 3rd quarter. Mariner LLC now owns 39,357 shares of the utilities provider’s stock worth $3,907,000 after buying an additional 3,025 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in shares of DTE Energy by 0.6% in the 3rd quarter. Stifel Financial Corp now owns 55,567 shares of the utilities provider’s stock valued at $5,517,000 after buying an additional 335 shares during the period. 76.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Barclays increased their price objective on DTE Energy from $115.00 to $119.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. TheStreet upgraded shares of DTE Energy from a “c+” rating to a “b-” rating in a research note on Friday, March 15th. JPMorgan Chase & Co. upped their target price on shares of DTE Energy from $118.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 13th. BMO Capital Markets lifted their price target on shares of DTE Energy from $111.00 to $113.00 and gave the company a “market perform” rating in a research report on Wednesday, April 17th. Finally, Scotiabank decreased their price target on DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $115.67.

Insider Activity at DTE Energy

In other DTE Energy news, COO Mark W. Stiers sold 10,000 shares of DTE Energy stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $116.00, for a total value of $1,160,000.00. Following the completion of the sale, the chief operating officer now directly owns 41,921 shares of the company’s stock, valued at approximately $4,862,836. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other DTE Energy news, COO Mark W. Stiers sold 10,000 shares of DTE Energy stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $116.00, for a total value of $1,160,000.00. Following the completion of the sale, the chief operating officer now owns 41,921 shares in the company, valued at approximately $4,862,836. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Lisa A. Muschong sold 1,198 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $116.61, for a total transaction of $139,698.78. Following the transaction, the vice president now directly owns 4,271 shares of the company’s stock, valued at approximately $498,041.31. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,698 shares of company stock valued at $1,702,444. Company insiders own 0.61% of the company’s stock.

DTE Energy Price Performance

Shares of NYSE:DTE opened at $111.25 on Friday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.54 and a current ratio of 0.75. The business’s fifty day moving average price is $112.81 and its two-hundred day moving average price is $109.93. The stock has a market cap of $23.02 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 2.01 and a beta of 0.67. DTE Energy has a one year low of $90.14 and a one year high of $117.44.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.67 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 forecast that DTE Energy will post 6.69 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Monday, September 16th. DTE Energy’s dividend payout ratio is presently 66.78%.

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.