Mirae Asset Global Investments Co. Ltd. Acquires 7,975 Shares of DTE Energy (NYSE:DTE)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of DTE Energy (NYSE:DTE) by 25.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,737 shares of the utilities provider’s stock after buying an additional 7,975 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in DTE Energy were worth $4,271,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Glenmede Trust Co. NA grew its position in DTE Energy by 0.9% during the third quarter. Glenmede Trust Co. NA now owns 129,083 shares of the utilities provider’s stock valued at $12,815,000 after buying an additional 1,106 shares during the period. Raymond James & Associates boosted its position in shares of DTE Energy by 6.5% in the fourth quarter. Raymond James & Associates now owns 209,488 shares of the utilities provider’s stock worth $23,098,000 after purchasing an additional 12,871 shares during the period. SG Americas Securities LLC boosted its position in shares of DTE Energy by 273.2% in the fourth quarter. SG Americas Securities LLC now owns 48,071 shares of the utilities provider’s stock worth $5,300,000 after purchasing an additional 35,189 shares during the period. Arvest Investments Inc. bought a new position in shares of DTE Energy in the fourth quarter worth approximately $2,581,000. Finally, American Century Companies Inc. boosted its position in shares of DTE Energy by 154.2% in the third quarter. American Century Companies Inc. now owns 114,251 shares of the utilities provider’s stock worth $11,343,000 after purchasing an additional 69,306 shares during the period. 76.06% of the stock is currently owned by institutional investors.

Insider Activity at DTE Energy

In related news, CAO Tracy J. Myrick sold 600 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $107.04, for a total transaction of $64,224.00. Following the sale, the chief accounting officer now owns 3,462 shares of the company’s stock, valued at $370,572.48. The transaction was disclosed in a legal 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 on Tuesday, February 27th. The shares were sold at an average price of $107.25, for a total value of $514,800.00. Following the sale, the chief operating officer now owns 26,118 shares of the company’s stock, valued at $2,801,155.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Tracy J. Myrick sold 600 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $107.04, for a total transaction of $64,224.00. Following the completion of the sale, the chief accounting officer now directly owns 3,462 shares in the company, valued at approximately $370,572.48. The disclosure for this sale can be found here. Insiders have sold a total of 20,095 shares of company stock valued at $2,168,183 over the last 90 days. 0.28% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

DTE has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target on shares of DTE Energy from $108.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. BMO Capital Markets dropped their price target on shares of DTE Energy from $113.00 to $111.00 and set a “market perform” rating for the company in a research report on Monday, February 12th. KeyCorp upped their price target on shares of DTE Energy from $106.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, January 4th. Guggenheim lowered shares of DTE Energy from a “buy” rating to a “neutral” rating and set a $111.00 price target for the company. in a research report on Monday, January 22nd. Finally, TheStreet upgraded shares of DTE Energy from a “c+” rating to a “b-” rating in a research report on Friday, March 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $114.33.

DTE Energy Price Performance

DTE Energy stock opened at $105.52 on Tuesday. The company has a market cap of $21.84 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 2.64 and a beta of 0.64. The firm’s fifty day moving average is $108.63 and its 200 day moving average is $105.52. The company has a quick ratio of 0.42, a current ratio of 0.60 and a debt-to-equity ratio of 1.58. DTE Energy has a 52-week low of $90.14 and a 52-week high of $116.73.

DTE Energy (NYSE:DTE) last released its quarterly earnings results on Thursday, February 8th. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.01. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $4.97 billion. DTE Energy had a net margin of 10.96% and a return on equity of 11.00%. During the same quarter in the prior year, the firm earned $1.31 earnings per share. Sell-side analysts forecast that DTE Energy will post 6.7 EPS for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, March 18th were paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend was Friday, March 15th. DTE Energy’s payout ratio is 60.36%.

About DTE Energy

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.