DTE Energy (NYSE:DTE) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN cut its position in DTE Energy (NYSE:DTE) by 4.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,935 shares of the utilities provider’s stock after selling 581 shares during the period. OLD National Bancorp IN’s holdings in DTE Energy were worth $1,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of DTE Energy by 4.6% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,053 shares of the utilities provider’s stock worth $2,211,000 after acquiring an additional 879 shares during the last quarter. Signaturefd LLC boosted its stake in shares of DTE Energy by 16.0% in the fourth quarter. Signaturefd LLC now owns 2,924 shares of the utilities provider’s stock worth $322,000 after acquiring an additional 403 shares during the last quarter. Lindbrook Capital LLC boosted its stake in DTE Energy by 149.5% during the fourth quarter. Lindbrook Capital LLC now owns 968 shares of the utilities provider’s stock worth $107,000 after buying an additional 580 shares during the last quarter. abrdn plc boosted its stake in DTE Energy by 1.2% during the fourth quarter. abrdn plc now owns 47,902 shares of the utilities provider’s stock worth $5,282,000 after buying an additional 570 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new position in DTE Energy during the fourth quarter worth $115,000. 76.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. TheStreet raised DTE Energy from a “c+” rating to a “b-” rating in a research note on Friday, March 15th. Scotiabank lowered their price objective on DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating on the stock in a research note on Monday. Morgan Stanley upped their price target on DTE Energy from $108.00 to $109.00 and gave the company 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 target on the stock. in a research note on Monday, January 22nd. Finally, BMO Capital Markets upped their price target on DTE Energy from $111.00 to $113.00 and gave the company a “market perform” rating in a research note on Wednesday, April 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $115.10.

Insider Transactions at DTE Energy

In other news, VP Lisa A. Muschong sold 2,775 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $108.43, for a total transaction of $300,893.25. Following the completion of the transaction, the vice president now directly owns 5,469 shares of the company’s stock, valued at approximately $593,003.67. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, SVP Joann Chavez sold 6,070 shares of the company’s 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 directly owns 16,667 shares of the company’s stock, valued at approximately $1,819,869.73. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Lisa A. Muschong sold 2,775 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $108.43, for a total value of $300,893.25. Following the transaction, the vice president now directly owns 5,469 shares of the company’s stock, valued at $593,003.67. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,095 shares of company stock valued at $2,168,183. 0.28% of the stock is currently owned by corporate insiders.

DTE Energy Price Performance

Shares of NYSE DTE opened at $110.11 on Wednesday. The stock’s 50-day moving average is $108.93 and its two-hundred day moving average is $105.98. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.60 and a quick ratio of 0.42. DTE Energy has a 1-year low of $90.14 and a 1-year high of $116.73. The company has a market cap of $22.79 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 2.74 and a beta of 0.64.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Thursday, February 8th. The utilities provider reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.01. DTE Energy had a return on equity of 11.00% and a net margin of 10.96%. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $4.97 billion. During the same quarter in the prior year, the business earned $1.31 EPS. Analysts forecast that DTE Energy will post 6.71 EPS for the current fiscal year.

DTE Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, March 18th were issued a dividend of $1.02 per share. The ex-dividend date of this dividend was Friday, March 15th. This represents a $4.08 annualized dividend and a yield of 3.71%. DTE Energy’s dividend payout ratio (DPR) is 60.36%.

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.