Mackenzie Financial Corp Lowers Position in DTE Energy (NYSE:DTE)

Mackenzie Financial Corp cut its stake in shares of DTE Energy (NYSE:DTE) by 4.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 17,937 shares of the utilities provider’s stock after selling 909 shares during the quarter. Mackenzie Financial Corp’s holdings in DTE Energy were worth $1,978,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of DTE. Romano Brothers AND Company purchased a new position in shares of DTE Energy in the fourth quarter valued at about $291,000. Louisiana State Employees Retirement System purchased a new position in shares of DTE Energy in the fourth quarter valued at about $1,378,000. 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 valued at $31,000 after acquiring an additional 143 shares in the last quarter. Vaughan David Investments LLC IL lifted its position in shares of DTE Energy by 8.4% in the fourth quarter. Vaughan David Investments LLC IL now owns 323,961 shares of the utilities provider’s stock valued at $35,720,000 after acquiring an additional 24,974 shares in the last quarter. Finally, Perigon Wealth Management LLC lifted its position in shares of DTE Energy by 13.2% in the fourth quarter. Perigon Wealth Management LLC now owns 8,112 shares of the utilities provider’s stock valued at $894,000 after acquiring an additional 945 shares in the last quarter. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on DTE shares. 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 report on Monday. Morgan Stanley boosted their price objective on DTE Energy from $108.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. TheStreet upgraded DTE Energy from a “c+” rating to a “b-” rating in a research report on Friday, March 15th. JPMorgan Chase & Co. boosted their target price on DTE Energy from $118.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 13th. Finally, BMO Capital Markets boosted their target price on DTE Energy from $111.00 to $113.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $115.10.

Insider Activity at DTE Energy

In related news, COO Matthew T. Paul sold 5,850 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $106.92, for a total transaction of $625,482.00. Following the transaction, the chief operating officer now directly owns 6,951 shares in the company, valued at approximately $743,200.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Tracy J. Myrick sold 600 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $107.04, for a total transaction of $64,224.00. Following the transaction, the chief accounting officer now directly owns 3,462 shares in the company, valued at approximately $370,572.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Matthew T. Paul sold 5,850 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $106.92, for a total transaction of $625,482.00. Following the transaction, the chief operating officer now owns 6,951 shares in the company, valued at $743,200.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,095 shares of company stock worth $2,168,183. Insiders own 0.61% of the company’s stock.

DTE Energy Price Performance

Shares of DTE Energy stock opened at $110.11 on Wednesday. The stock has a market cap of $22.78 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 2.70 and a beta of 0.64. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.42 and a current ratio of 0.60. The stock has a 50 day moving average price of $108.93 and a 200-day moving average price of $105.98. DTE Energy has a one year low of $90.14 and a one year high of $116.73.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, February 8th. The utilities provider reported $1.97 EPS for the quarter, topping the consensus estimate of $1.96 by $0.01. DTE Energy had a net margin of 10.96% and a return on equity of 11.00%. The company had revenue of $3.39 billion during the quarter, compared to analyst estimates of $4.97 billion. During the same period in the previous year, the firm earned $1.31 earnings per share. Equities analysts expect that DTE Energy will post 6.71 EPS for the current year.

DTE Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors 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 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.