Nemes Rush Group LLC Raises Stock Position in DTE Energy (NYSE:DTE)

Nemes Rush Group LLC grew its holdings in shares of DTE Energy (NYSE:DTE) by 71.9% during the fourth quarter, Holdings Channel reports. The firm owned 2,331 shares of the utilities provider’s stock after purchasing an additional 975 shares during the quarter. Nemes Rush Group LLC’s holdings in DTE Energy were worth $257,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of DTE. MV Capital Management Inc. increased its stake in shares of DTE Energy by 104.4% during 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 period. Milestone Investment Advisors LLC purchased a new stake in shares of DTE Energy during the third quarter worth approximately $36,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of DTE Energy during the third quarter worth approximately $43,000. Principal Securities Inc. purchased a new stake in shares of DTE Energy during the fourth quarter worth approximately $54,000. Finally, Cullen Frost Bankers Inc. increased its stake in shares of DTE Energy by 17.0% during the third quarter. Cullen Frost Bankers Inc. now owns 702 shares of the utilities provider’s stock worth $70,000 after buying an additional 102 shares during the period. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

DTE Energy Stock Performance

Shares of DTE stock traded down $0.97 during trading hours on Wednesday, hitting $116.21. The stock had a trading volume of 164,170 shares, compared to its average volume of 1,135,193. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.75 and a quick ratio of 0.54. The stock’s 50 day moving average is $110.82 and its 200 day moving average is $108.28. DTE Energy has a twelve month low of $90.14 and a twelve month high of $117.44. The firm has a market capitalization of $24.05 billion, a PE ratio of 19.18, a PEG ratio of 2.90 and a beta of 0.64.

DTE Energy (NYSE:DTE) last issued its quarterly 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 company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.81 billion. As a group, research analysts forecast that DTE Energy will post 6.7 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 17th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend is Monday, June 17th. DTE Energy’s dividend payout ratio is presently 66.78%.

Insider Buying and Selling

In other DTE Energy news, COO Mark W. Stiers sold 10,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $116.00, for a total value of $1,160,000.00. Following the completion of the transaction, the chief operating officer now owns 41,921 shares in the company, valued at $4,862,836. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Mark W. Stiers sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $116.00, for a total value of $1,160,000.00. Following the completion of the transaction, the chief operating officer now owns 41,921 shares in the company, valued at $4,862,836. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Tracy J. Myrick sold 600 shares of DTE Energy stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $107.04, for a total value of $64,224.00. Following the sale, the chief accounting officer now owns 3,462 shares of the company’s stock, valued at approximately $370,572.48. The disclosure for this sale can be found here. Insiders sold a total of 15,400 shares of company stock valued at $1,739,024 over the last three months. 0.28% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on DTE shares. KeyCorp upped their target price on shares of DTE Energy from $117.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday. TheStreet upgraded shares of DTE Energy from a “c+” rating to a “b-” rating in a research note on Friday, March 15th. Barclays increased their price target on shares of DTE Energy from $115.00 to $119.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. BMO Capital Markets increased their price target on shares of DTE Energy from $111.00 to $113.00 and gave the company a “market perform” rating in a research note on Wednesday, April 17th. Finally, Scotiabank dropped their price target on shares of DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $116.30.

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.