Wealthcare Advisory Partners LLC Acquires Shares of 2,009 DTE Energy (NYSE:DTE)

Wealthcare Advisory Partners LLC acquired a new stake in shares of DTE Energy (NYSE:DTE) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,009 shares of the utilities provider’s stock, valued at approximately $225,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sovereign Financial Group Inc. bought a new position in shares of DTE Energy during the first quarter valued at $377,000. Riverview Trust Co bought a new position in shares of DTE Energy in the first quarter valued at about $154,000. Global Assets Advisory LLC bought a new position in shares of DTE Energy in the first quarter valued at about $12,417,000. Lloyd Advisory Services LLC. bought a new position in shares of DTE Energy in the first quarter valued at about $768,000. Finally, Steph & Co. raised its holdings in shares of DTE Energy by 15.6% in the first quarter. Steph & Co. now owns 1,664 shares of the utilities provider’s stock valued at $187,000 after buying an additional 225 shares during the last quarter. 76.06% of the stock is owned by institutional investors.

DTE Energy Stock Performance

Shares of NYSE:DTE opened at $109.13 on Tuesday. The firm’s 50 day simple moving average is $112.96 and its 200 day simple moving average is $109.92. DTE Energy has a fifty-two week low of $90.14 and a fifty-two week high of $117.44. The company has a market capitalization of $22.58 billion, a price-to-earnings ratio of 17.86, a P/E/G ratio of 2.02 and a beta of 0.66. 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 posted its earnings results on Thursday, April 25th. The utilities provider reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.04). DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. The firm had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.81 billion. As a group, sell-side analysts forecast that DTE Energy will post 6.69 earnings per share for the current year.

DTE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be issued a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $4.08 annualized dividend and a yield of 3.74%. DTE Energy’s dividend payout ratio is presently 66.78%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on DTE shares. TheStreet raised DTE Energy from a “c+” rating to a “b-” rating in a report on Friday, March 15th. JPMorgan Chase & Co. lifted their price target on DTE Energy from $118.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, March 13th. BMO Capital Markets lifted their price target on DTE Energy from $111.00 to $113.00 and gave the company a “market perform” rating in a report on Wednesday, April 17th. Morgan Stanley cut their price target on DTE Energy from $116.00 to $111.00 and set an “overweight” rating for the company in a report on Monday, June 24th. Finally, KeyCorp lifted their price objective on DTE Energy from $117.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, DTE Energy presently has a consensus rating of “Hold” and an average target price of $115.67.

Insider Buying and Selling at DTE Energy

In other news, VP Lisa A. Muschong sold 1,198 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $116.61, for a total transaction of $139,698.78. Following the sale, the vice president now owns 4,271 shares of the company’s stock, valued at $498,041.31. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $115.07, for a total value of $402,745.00. Following the sale, the insider now directly owns 59,475 shares of the company’s stock, valued at approximately $6,843,788.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Lisa A. Muschong sold 1,198 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $116.61, for a total transaction of $139,698.78. Following the completion of the transaction, the vice president now directly owns 4,271 shares of the company’s stock, valued at $498,041.31. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,698 shares of company stock valued at $1,702,444. Company insiders own 0.28% of the company’s stock.

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.