MD Financial Management Inc. Increases Stock Holdings in DTE Energy (NYSE:DTE)

MD Financial Management Inc. lifted its position in DTE Energy (NYSE:DTE) by 22.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,644 shares of the utilities provider’s stock after purchasing an additional 3,253 shares during the quarter. MD Financial Management Inc.’s holdings in DTE Energy were worth $1,971,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in DTE. FMR LLC grew its holdings in shares of DTE Energy by 6.4% in the first quarter. FMR LLC now owns 175,821 shares of the utilities provider’s stock valued at $21,931,000 after purchasing an additional 10,517 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in DTE Energy by 12.8% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 35,767 shares of the utilities provider’s stock valued at $4,635,000 after buying an additional 4,072 shares during the last quarter. Private Advisor Group LLC lifted its position in DTE Energy by 38.8% in the second quarter. Private Advisor Group LLC now owns 8,705 shares of the utilities provider’s stock valued at $1,129,000 after buying an additional 2,435 shares during the last quarter. Vident Investment Advisory LLC acquired a new position in DTE Energy in the second quarter valued at about $476,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in DTE Energy by 18.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,934 shares of the utilities provider’s stock valued at $768,000 after buying an additional 919 shares during the last quarter. 72.22% of the stock is owned by hedge funds and other institutional investors.

Shares of DTE Energy stock opened at $116.16 on Friday. The firm has a market capitalization of $22.50 billion, a P/E ratio of 25.70, a P/E/G ratio of 3.38 and a beta of 0.66. DTE Energy has a 52 week low of $96.40 and a 52 week high of $122.14. The company has a quick ratio of 0.75, a current ratio of 1.02 and a debt-to-equity ratio of 1.97. The firm’s 50 day moving average is $118.34 and its two-hundred day moving average is $116.64.

DTE Energy (NYSE:DTE) last announced its earnings results on Thursday, February 10th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.21. DTE Energy had a net margin of 6.25% and a return on equity of 12.12%. During the same quarter last year, the firm earned $1.39 EPS. As a group, research analysts expect that DTE Energy will post 5.9 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 15th. Stockholders of record on Monday, March 21st will be given a dividend of $0.885 per share. The ex-dividend date is Friday, March 18th. This represents a $3.54 dividend on an annualized basis and a dividend yield of 3.05%. DTE Energy’s dividend payout ratio (DPR) is presently 78.32%.

In other news, SVP Joann Chavez sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, December 2nd. The shares were sold at an average price of $110.78, for a total transaction of $55,390.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.60% of the company’s stock.

A number of research firms have commented on DTE. Mizuho decreased their target price on shares of DTE Energy from $126.00 to $124.00 and set a “buy” rating on the stock in a research report on Monday, November 22nd. Edward Jones raised shares of DTE Energy from a “hold” rating to a “buy” rating in a research report on Thursday, January 13th. Morgan Stanley reduced their price target on shares of DTE Energy from $133.00 to $131.00 and set an “overweight” rating on the stock in a research report on Friday, January 21st. Wells Fargo & Company raised shares of DTE Energy from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $124.00 to $123.00 in a research report on Wednesday, December 1st. Finally, JPMorgan Chase & Co. cut shares of DTE Energy from an “overweight” rating to a “neutral” rating and set a $126.00 price target on the stock. in a research report on Friday, January 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, DTE Energy has a consensus rating of “Buy” and a consensus target price of $128.11.

DTE Energy Profile

DTE Energy Co operates as a diversified energy company, which engages in the provision of electricity and natural gas sales, distribution and storage services. It operates through the following segments: Electric, Gas, Non-Utility Operations, and Corporate & Other. The Electric segment engages in the generation, purchase, distribution and sale of electricity to residential, commercial and industrial customers in south-eastern Michigan.

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