Merit Financial Group LLC Boosts Stake in DTE Energy (NYSE:DTE)

Merit Financial Group LLC raised its position in DTE Energy (NYSE:DTE) by 19.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,432 shares of the utilities provider’s stock after buying an additional 399 shares during the quarter. Merit Financial Group LLC’s holdings in DTE Energy were worth $268,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of DTE. Natixis Advisors L.P. raised its holdings in DTE Energy by 59.9% in the fourth quarter. Natixis Advisors L.P. now owns 194,531 shares of the utilities provider’s stock valued at $21,449,000 after buying an additional 72,889 shares during the period. Hexagon Capital Partners LLC raised its stake in shares of DTE Energy by 533.6% in the 4th quarter. Hexagon Capital Partners LLC now owns 773 shares of the utilities provider’s stock valued at $85,000 after acquiring an additional 651 shares during the period. Intrust Bank NA lifted its holdings in shares of DTE Energy by 18.7% during the 4th quarter. Intrust Bank NA now owns 8,477 shares of the utilities provider’s stock valued at $935,000 after acquiring an additional 1,337 shares in the last quarter. Choreo LLC boosted its position in DTE Energy by 152.1% during the 4th quarter. Choreo LLC now owns 5,168 shares of the utilities provider’s stock worth $571,000 after purchasing an additional 3,118 shares during the period. Finally, Mather Group LLC. acquired a new stake in DTE Energy in the 4th quarter valued at $223,000. 76.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at DTE Energy

In other DTE Energy news, CAO Tracy J. Myrick sold 600 shares of DTE Energy stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $107.04, for a total value of $64,224.00. Following the completion of the transaction, 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 filing with the SEC, which is accessible through the SEC website. In other DTE Energy news, CAO Tracy J. Myrick sold 600 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $107.04, for a total value of $64,224.00. Following the transaction, the chief accounting officer now owns 3,462 shares of the company’s stock, valued at $370,572.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Joann Chavez sold 6,070 shares of DTE Energy stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $109.19, for a total value of $662,783.30. Following the completion of 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 ninety days, insiders have sold 20,095 shares of company stock valued at $2,168,183. Corporate insiders own 0.61% of the company’s stock.

DTE Energy Trading Up 1.2 %

NYSE DTE opened at $114.73 on Thursday. The company has a market capitalization of $23.74 billion, a price-to-earnings ratio of 18.78, a price-to-earnings-growth 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. The company’s fifty day moving average price is $109.74 and its two-hundred day moving average price is $106.98.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Thursday, April 25th. The utilities provider reported $1.67 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.04). The company 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%. As a group, research analysts predict that DTE Energy will post 6.69 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.56%. DTE Energy’s dividend payout ratio (DPR) is 66.78%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Guggenheim cut 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. Morgan Stanley boosted their price target on DTE Energy from $108.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Scotiabank lowered their price objective on shares of DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating for the company in a research report on Monday, April 22nd. BMO Capital Markets boosted their target price on shares of DTE Energy from $111.00 to $113.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 17th. Finally, Wolfe Research lowered shares of DTE Energy from an “outperform” rating to a “peer perform” rating in a report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.50.

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.