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

Merit Financial Group LLC increased its position in DTE Energy (NYSE:DTE – Free Report) by 19.6% during the fourth quarter, HoldingsChannel.com reports. The company owned 2,432 shares of the utility, after purchasing 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 changed their holdings of DTE. Natixis Advisors LP increased its holdings in DTE Energy by 59.9% in the fourth quarter. Natixis Advisors LP now owns 194,531 shares of the utility’s stock valued at $21,449,000 after purchasing an additional 72,889 shares during the period. Hexagon Capital Partners LLC increased its holdings in shares of DTE Energy by 533.6% in the 4th quarter. Hexagon Capital Partners LLC now owns 773 shares of the utility’s stock worth $85,000 after acquiring an additional 651 shares during the period. Intrust Bank NA increased its holdings in shares of DTE Energy by 18.7% during the 4th quarter. Intrust Bank NA now owns 8,477 shares of the utility’s stock valued at $935,000 after acquiring an additional 1,337 shares in the last quarter. Choreo LLC strengthened its position in DTE Energy by 152.1% in the fourth quarter. Choreo LLC now owns 5,168 shares of the utility’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 worth $223,000 in the 4th quarter. 76.06% of the shares are held 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 22. The shares 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 can be accessed through the SEC website. In other DTE Energy news, CAO Tracy J. Myrick sold 600 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares 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 can be accessed through this hyperlink. Also, SVP Joann Chavez sold 6,070 shares of DTE Energy stock in a transaction that occurred on Wednesday, February 21. The shares 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 explanation of this sale can be found here. Over the last ninety days, insiders have sold 20,095 shares of the company’s stock, valued at $2,168,183. Corporate insiders own 0.61% of the company’s shares.

DTE Energy is trading 1.2% higher

NYSE DTE opened at $114.73 on Thursday. The company has a market cap 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 – Get Free Report) posted its latest quarterly results on Thursday, April 25. The energy supplier reported $1.67 earnings per share 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 earnings per share of 6.69 for the current fiscal year.

DTE Energy announces dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15. Shareholders of record on Monday, June 17 will receive a $1.02 dividend. The ex-dividend date of this dividend is Monday, June 17. This represents a dividend of $4.08 annually 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 downgraded 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 22. Morgan Stanley raised 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 21. Scotiabank lowered their price objective on shares of DTE Energy from $129.00 to $120.00 and gave the company a “sector outperform” rating in a research report on Monday, April 22. BMO Capital Markets raised their price target 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 17. Finally, Wolfe Research downgraded 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 given 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.

Get our latest analysis on DTE Energy

DTE Energy Profile

(Free report)

DTE Energy Company is engaged in utility activities. 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, hydroelectric and nuclear power stations, as well as wind and solar energy.

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