Proficio Capital Partners LLC Takes $11.41 Million Position in DTE Energy (NYSE:DTE)

Proficio Capital Partners LLC bought a new stake in shares of DTE Energy (NYSE:DTE) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 94,527 shares of the utilities provider’s stock, valued at approximately $11,414,000.

Several other large investors also recently modified their holdings of DTE. Legacy Investment Solutions LLC acquired a new stake in shares of DTE Energy during the third quarter valued at about $30,000. Prospera Private Wealth LLC acquired a new stake in shares of DTE Energy during the third quarter valued at about $35,000. Versant Capital Management Inc lifted its position in shares of DTE Energy by 890.0% during the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 267 shares during the last quarter. Coastline Trust Co bought a new position in shares of DTE Energy during the third quarter worth about $39,000. Finally, Robbins Farley bought a new position in shares of DTE Energy during the fourth quarter worth about $57,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Price Performance

Shares of NYSE:DTE opened at $135.42 on Friday. The firm’s 50 day moving average is $125.78 and its two-hundred day moving average is $124.47. DTE Energy has a 52 week low of $103.06 and a 52 week high of $136.28. The firm has a market capitalization of $28.07 billion, a P/E ratio of 20.00, a PEG ratio of 2.41 and a beta of 0.59. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77.

DTE Energy (NYSE:DTE) last announced 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%. Analysts anticipate that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid a dividend of $1.09 per share. The ex-dividend date is Monday, March 17th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.22%. DTE Energy’s dividend payout ratio is presently 64.40%.

Wall Street Analysts Forecast Growth

DTE has been the topic of several research analyst reports. Barclays cut shares of DTE Energy from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $137.00 to $135.00 in a research report on Thursday, February 20th. Morgan Stanley reduced 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 report on Friday, November 22nd. Guggenheim raised shares of DTE Energy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. KeyCorp cut shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Finally, UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $129.00 to $143.00 in a report on Tuesday, December 3rd. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $137.09.

Insider Activity at DTE Energy

In related news, SVP Joann Chavez sold 7,062 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $132.40, for a total transaction of $935,008.80. Following the transaction, the senior vice president now owns 14,067 shares in the company, valued at $1,862,470.80. This trade represents a 33.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Matthew T. Paul sold 3,801 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total transaction of $492,457.56. Following the transaction, the chief operating officer now owns 6,951 shares in the company, valued at $900,571.56. This represents a 35.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,877 shares of company stock worth $1,559,205 over the last quarter. 0.28% of the stock is currently owned by company 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.