Oppenheimer & Co. Inc. Purchases Shares of 1,800 DTE Energy (NYSE:DTE)

Oppenheimer & Co. Inc. purchased a new stake in DTE Energy (NYSE:DTE) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,800 shares of the utilities provider’s stock, valued at approximately $217,000.

A number of other hedge funds also recently made changes to their positions in DTE. Legacy Investment Solutions LLC purchased a new position in shares of DTE Energy in the 3rd quarter valued at $30,000. Prospera Private Wealth LLC purchased a new position in shares of DTE Energy in the 3rd quarter valued at $35,000. Ashton Thomas Securities LLC purchased a new position in shares of DTE Energy in the 3rd quarter valued at $35,000. Versant Capital Management Inc raised its stake in shares of DTE Energy by 890.0% in the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 267 shares during the period. Finally, Coastline Trust Co purchased a new position in shares of DTE Energy in the 3rd quarter valued at $39,000. Institutional investors and hedge funds own 76.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. BMO Capital Markets raised their target price on shares of DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Guggenheim raised shares of DTE Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Barclays downgraded shares of DTE Energy from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $137.00 to $135.00 in a research note on Thursday, February 20th. KeyCorp downgraded shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Finally, Morgan Stanley dropped their price target on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $135.67.

Insider Activity

In other DTE Energy news, CAO Tracy J. Myrick sold 1,014 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total transaction of $131,738.88. Following the completion of the transaction, the chief accounting officer now directly owns 3,437 shares of the company’s stock, valued at $446,535.04. The trade was a 22.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Joann Chavez sold 7,062 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $132.40, for a total transaction 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 disclosure for this sale can be found here. In the last three months, insiders sold 11,877 shares of company stock valued at $1,559,205. Company insiders own 0.61% of the company’s stock.

DTE Energy Trading Up 0.7 %

NYSE DTE opened at $131.46 on Monday. DTE Energy has a one year low of $103.06 and a one year high of $136.28. The company has a 50-day simple moving average of $124.61 and a 200-day simple moving average of $124.17. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71. The firm has a market capitalization of $27.24 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.50 by $0.01. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. On average, equities analysts forecast that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a $1.09 dividend. This represents a $4.36 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s dividend payout ratio (DPR) is presently 64.40%.

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.