Jennison Associates LLC Sells 314,755 Shares of DTE Energy (NYSE:DTE)

Jennison Associates LLC decreased its stake in shares of DTE Energy (NYSE:DTE) by 25.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 911,537 shares of the utilities provider’s stock after selling 314,755 shares during the period. Jennison Associates LLC owned 0.44% of DTE Energy worth $100,506,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of DTE. PBMares Wealth Management LLC grew its position in shares of DTE Energy by 4.5% in the fourth quarter. PBMares Wealth Management LLC now owns 2,301 shares of the utilities provider’s stock valued at $254,000 after purchasing an additional 100 shares during the last quarter. Cullen Frost Bankers Inc. boosted its stake in DTE Energy by 17.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 702 shares of the utilities provider’s stock valued at $70,000 after purchasing an additional 102 shares during the period. Telemus Capital LLC grew its holdings in DTE Energy by 3.1% in the 3rd quarter. Telemus Capital LLC now owns 3,709 shares of the utilities provider’s stock valued at $368,000 after buying an additional 111 shares in the last quarter. ASB Consultores LLC increased its position in DTE Energy by 5.6% during the 3rd quarter. ASB Consultores LLC now owns 2,135 shares of the utilities provider’s stock worth $212,000 after buying an additional 114 shares during the period. Finally, Secure Asset Management LLC lifted its holdings in shares of DTE Energy by 1.7% during the fourth quarter. Secure Asset Management LLC now owns 7,688 shares of the utilities provider’s stock worth $848,000 after buying an additional 127 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Stock Up 1.4 %

Shares of DTE Energy stock opened at $110.12 on Tuesday. The stock’s 50-day moving average is $108.81 and its 200 day moving average is $105.88. DTE Energy has a one year low of $90.14 and a one year high of $116.73. The firm has a market cap of $22.79 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 2.70 and a beta of 0.64. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.60 and a quick ratio of 0.42.

DTE Energy (NYSE:DTE) last released its quarterly earnings data on Thursday, February 8th. The utilities provider reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.01. The company had revenue of $3.39 billion during the quarter, compared to analyst estimates 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 previous year, the business posted $1.31 EPS. Equities research analysts anticipate that DTE Energy will post 6.71 EPS for the current year.

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, March 18th were given a dividend of $1.02 per share. The ex-dividend date of this dividend was Friday, March 15th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.71%. DTE Energy’s dividend payout ratio (DPR) is presently 60.36%.

Insider Activity

In other DTE Energy news, COO Matthew T. Paul sold 5,850 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $106.92, for a total value 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other DTE Energy news, VP Lisa A. Muschong sold 2,775 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $108.43, for a total transaction of $300,893.25. Following the transaction, the vice president now owns 5,469 shares in the company, valued at $593,003.67. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Matthew T. Paul sold 5,850 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $106.92, for a total transaction of $625,482.00. Following the completion of the transaction, the chief operating officer now directly owns 6,951 shares in the company, valued at $743,200.92. The disclosure for this sale can be found here. Insiders sold a total of 20,095 shares of company stock worth $2,168,183 in the last three months. Company insiders own 0.28% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. KeyCorp upped their price target on shares of DTE Energy from $106.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, January 4th. Scotiabank reduced their price target on DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating on the stock in a research report on Monday. Guggenheim cut DTE Energy from a “buy” rating to a “neutral” rating and set a $111.00 price objective for the company. in a report on Monday, January 22nd. BMO Capital Markets upped their price objective 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, Morgan Stanley raised their target price on shares of DTE Energy from $108.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $115.10.

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.