Pointe Capital Management LLC Takes Position in DTE Energy (NYSE:DTE)

Pointe Capital Management LLC acquired a new stake in shares of DTE Energy (NYSE:DTE) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,829 shares of the utilities provider’s stock, valued at approximately $202,000.

Several other institutional investors have also bought and sold shares of the stock. MV Capital Management Inc. increased its position in shares of DTE Energy by 104.4% during the 4th quarter. MV Capital Management Inc. now owns 280 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 143 shares during the period. Milestone Investment Advisors LLC acquired a new position in DTE Energy during the third quarter worth about $36,000. Authentikos Wealth Advisory LLC bought a new stake in DTE Energy in the third quarter worth about $43,000. Cullen Frost Bankers Inc. lifted its holdings 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 acquiring an additional 102 shares during the last quarter. Finally, Hexagon Capital Partners LLC boosted its position in shares of DTE Energy by 533.6% during the 4th quarter. Hexagon Capital Partners LLC now owns 773 shares of the utilities provider’s stock valued at $85,000 after purchasing an additional 651 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on DTE shares. BMO Capital Markets increased their price objective 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. Morgan Stanley increased their price target on DTE Energy from $108.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Guggenheim downgraded DTE Energy from a “buy” rating to a “neutral” rating and set a $111.00 price objective on the stock. in a report on Monday, January 22nd. Wolfe Research cut shares of DTE Energy from an “outperform” rating to a “peer perform” rating in a report on Tuesday, January 16th. Finally, JPMorgan Chase & Co. lifted their target price on shares of DTE Energy from $118.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 13th. 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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $115.50.

DTE Energy Stock Up 0.8 %

DTE stock traded up $0.84 during midday trading on Friday, reaching $112.75. The company had a trading volume of 1,021,105 shares, compared to its average volume of 1,192,520. DTE Energy has a 1 year low of $90.14 and a 1 year high of $116.73. The company has a current ratio of 0.75, a quick ratio of 0.54 and a debt-to-equity ratio of 1.72. The company has a market capitalization of $23.33 billion, a P/E ratio of 18.46, a PEG ratio of 2.79 and a beta of 0.64. The company has a 50 day moving average of $109.41 and a two-hundred day moving average of $106.53.

DTE Energy (NYSE:DTE) last issued its earnings results on Thursday, April 25th. The utilities provider reported $1.67 EPS for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.04). DTE Energy had a net margin of 10.36% and a return on equity of 11.53%. The firm had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.81 billion. On average, equities research analysts expect that DTE Energy will post 6.69 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be paid a dividend of $1.02 per share. The ex-dividend date is Monday, June 17th. This represents a $4.08 annualized dividend and a dividend yield of 3.62%. DTE Energy’s dividend payout ratio (DPR) is presently 66.78%.

Insider Activity

In related news, 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 completion of the sale, the chief accounting officer now directly owns 3,462 shares in the company, valued at approximately $370,572.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, COO Robert A. Richard sold 4,800 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 26,118 shares in the company, valued at $2,801,155.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Tracy J. Myrick sold 600 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 20,095 shares of company stock valued at $2,168,183. Insiders own 0.61% of the company’s stock.

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.