Goldman Sachs Group Inc. reduced its stake in DTE Energy Co (NYSE:DTE) by 14.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,782,025 shares of the utilities provider’s stock after selling 311,123 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.99% of DTE Energy worth $195,060,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Spectrum Management Group Inc. purchased a new stake in DTE Energy in the 3rd quarter valued at $111,000. SeaCrest Wealth Management LLC purchased a new position in shares of DTE Energy during the 4th quarter worth $138,000. Focused Wealth Management Inc purchased a new position in shares of DTE Energy during the 4th quarter worth $164,000. Lenox Wealth Advisors Inc. purchased a new position in shares of DTE Energy during the 4th quarter worth $190,000. Finally, Capital One National Association purchased a new position in shares of DTE Energy during the 4th quarter worth $201,000. Institutional investors own 68.43% of the company’s stock.
In related news, CEO Gerard M. Anderson sold 12,500 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $102.53, for a total transaction of $1,281,625.00. Following the transaction, the chief executive officer now owns 87,358 shares of the company’s stock, valued at approximately $8,956,815.74. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Lisa A. Muschong sold 1,341 shares of the stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $100.97, for a total value of $135,400.77. Following the transaction, the vice president now directly owns 2,676 shares in the company, valued at approximately $270,195.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,521 shares of company stock worth $2,189,173. 0.53% of the stock is owned by corporate insiders.
DTE Energy (NYSE:DTE) last posted its earnings results on Friday, February 16th. The utilities provider reported $1.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.07. DTE Energy had a return on equity of 10.81% and a net margin of 8.99%. During the same quarter last year, the business posted $0.81 EPS. analysts forecast that DTE Energy Co will post 5.81 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, April 15th. Investors of record on Monday, March 19th will be paid a dividend of $0.8825 per share. This represents a $3.53 annualized dividend and a yield of 3.51%. The ex-dividend date is Friday, March 16th. DTE Energy’s payout ratio is 55.77%.
A number of equities analysts have recently weighed in on DTE shares. Guggenheim reiterated a “buy” rating and set a $121.00 price target on shares of DTE Energy in a report on Wednesday, January 3rd. Zacks Investment Research upgraded DTE Energy from a “hold” rating to a “buy” rating and set a $119.00 price target for the company in a report on Monday, January 8th. Bank of America increased their price target on DTE Energy from $101.00 to $104.00 and gave the stock an “underperform” rating in a report on Tuesday, February 20th. Wells Fargo & Co upgraded DTE Energy from a “market perform” rating to an “outperform” rating in a report on Friday, January 12th. Finally, KeyCorp reiterated a “buy” rating and set a $118.50 price target on shares of DTE Energy in a report on Friday, December 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. DTE Energy currently has a consensus rating of “Hold” and a consensus target price of $111.55.
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About DTE Energy
DTE Energy Company is an energy company. Its segments include Electric, which consists of DTE Electric Company, which is engaged in the generation, purchase, distribution and sale of electricity to residential, commercial and industrial customers in southeastern Michigan; Gas, which consists of DTE Gas Company, which is engaged in the purchase, storage, transportation, distribution and sale of natural gas to residential, commercial and industrial customers throughout Michigan; Gas Storage and Pipelines, which consists of natural gas pipeline, gathering and storage businesses; Power and Industrial Projects, which consists of projects that deliver energy and utility-type products and services to industrial, commercial and institutional customers, and sell electricity from renewable energy projects; Energy Trading, which consists of energy marketing and trading operations, and Corporate and Other, which includes various holding company activities and holds certain non-utility debt.
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