Balanced Wealth Group LLC Makes New Investment in DTE Energy (NYSE:DTE)

Balanced Wealth Group LLC bought a new stake in shares of DTE Energy (NYSE:DTE) during the fourth quarter, Holdings Channel reports. The fund bought 2,987 shares of the utilities provider’s stock, valued at approximately $329,000.

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

Insider Activity at DTE Energy

In other news, COO Robert A. Richard sold 4,800 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $107.25, for a total transaction of $514,800.00. Following the completion of the sale, the chief operating officer now directly owns 26,118 shares of the company’s stock, valued at approximately $2,801,155.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Robert A. Richard sold 4,800 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $107.25, for a total transaction of $514,800.00. Following the completion of the sale, the chief operating officer now owns 26,118 shares in the company, valued at approximately $2,801,155.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Tracy J. Myrick sold 600 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $107.04, for a total value of $64,224.00. Following the transaction, the chief accounting officer now directly owns 3,462 shares in the company, valued at $370,572.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,095 shares of company stock worth $2,168,183. 0.61% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

DTE Energy Stock Performance

DTE traded up $1.39 during trading on Wednesday, hitting $114.73. 907,941 shares of the stock were exchanged, compared to its average volume of 1,176,321. The firm has a market capitalization of $23.74 billion, a P/E ratio of 18.64, a PEG ratio of 2.81 and a beta of 0.64. DTE Energy has a 1-year low of $90.14 and a 1-year high of $116.73. The stock has a fifty day moving average price of $109.74 and a two-hundred day moving average price of $106.98. The company has a quick ratio of 0.54, a current ratio of 0.75 and a debt-to-equity ratio of 1.72.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $3.81 billion. DTE Energy had a net margin of 10.36% and a return on equity of 11.53%. As a group, sell-side analysts predict that DTE Energy will post 6.69 earnings per share for the current year.

DTE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 17th will be given a $1.02 dividend. The ex-dividend date is Monday, June 17th. This represents a $4.08 annualized dividend and a dividend yield of 3.56%. DTE Energy’s dividend payout ratio is presently 66.78%.

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.