Picton Mahoney Asset Management Invests $3.44 Million in DTE Energy (NYSE:DTE)

Picton Mahoney Asset Management acquired a new stake in shares of DTE Energy (NYSE:DTE) in the fourth quarter, HoldingsChannel reports. The fund acquired 31,177 shares of the utilities provider’s stock, valued at approximately $3,439,000.

A number of other institutional investors have also recently bought and sold shares of DTE. MV Capital Management Inc. lifted its position in shares of DTE Energy by 104.4% in the fourth quarter. MV Capital Management Inc. now owns 280 shares of the utilities provider’s stock worth $31,000 after buying an additional 143 shares during the last quarter. Milestone Investment Advisors LLC bought a new position in shares of DTE Energy in the third quarter worth about $36,000. Authentikos Wealth Advisory LLC bought a new position in shares of DTE Energy in the third quarter worth about $43,000. Cullen Frost Bankers Inc. increased its stake in shares of DTE Energy by 17.0% in the third quarter. Cullen Frost Bankers Inc. now owns 702 shares of the utilities provider’s stock worth $70,000 after purchasing an additional 102 shares during the period. Finally, Hexagon Capital Partners LLC increased its stake in shares of DTE Energy by 533.6% in the fourth 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 period. Institutional investors and hedge funds own 76.06% of the company’s stock.

Insiders Place Their Bets

In other DTE Energy news, SVP Joann Chavez sold 6,070 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 16,667 shares in the company, valued at approximately $1,819,869.73. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, COO Robert A. Richard sold 4,800 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $107.25, for a total transaction of $514,800.00. Following the completion of the transaction, the chief operating officer now directly owns 26,118 shares in the company, valued at approximately $2,801,155.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Joann Chavez sold 6,070 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $109.19, for a total transaction of $662,783.30. Following the transaction, the senior vice president now owns 16,667 shares of the company’s stock, valued at $1,819,869.73. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,095 shares of company stock worth $2,168,183. Corporate insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on DTE shares. Barclays lifted their price objective on DTE Energy from $115.00 to $119.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Morgan Stanley lifted their price objective on DTE Energy from $108.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Guggenheim lowered DTE Energy from a “buy” rating to a “neutral” rating and set a $111.00 price objective on the stock. in a research note on Monday, January 22nd. Wolfe Research lowered DTE Energy from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 16th. Finally, TheStreet upgraded DTE Energy from a “c+” rating to a “b-” rating in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.50.

DTE Energy Stock Up 1.2 %

DTE stock traded up $1.39 during trading hours on Wednesday, reaching $114.73. 905,521 shares of the stock were exchanged, compared to its average volume of 1,176,321. The firm’s 50-day moving average is $109.74 and its 200-day moving average is $106.98. The company has a market cap of $23.74 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 2.81 and a beta of 0.64. 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 has a 12 month low of $90.14 and a 12 month high of $116.73.

DTE Energy (NYSE:DTE) last released its 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 firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.81 billion. DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. On average, equities research analysts expect that DTE Energy will post 6.69 earnings per share for the current year.

DTE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 17th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend is Monday, June 17th. DTE Energy’s dividend payout ratio (DPR) 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.