Jump Financial LLC Raises Stock Position in DTE Energy (NYSE:DTE)

by · The Markets Daily

Jump Financial LLC boosted its holdings in shares of DTE Energy (NYSE:DTE – Free Report) by 6.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,396 shares of the utilities provider’s stock after purchasing an additional 370 shares during the period. Jump Financial LLC’s holdings in DTE Energy were worth $772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in DTE. Versant Capital Management Inc boosted its stake in shares of DTE Energy by 890.0% in the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock worth $36,000 after buying an additional 267 shares during the last quarter. Robbins Farley purchased a new stake in DTE Energy in the 4th quarter worth approximately $57,000. Kestra Investment Management LLC purchased a new stake in DTE Energy in the 4th quarter worth approximately $57,000. AdvisorNet Financial Inc increased its holdings in shares of DTE Energy by 81.5% during the 4th quarter. AdvisorNet Financial Inc now owns 697 shares of the utilities provider’s stock valued at $84,000 after purchasing an additional 313 shares in the last quarter. Finally, Flagship Wealth Advisors LLC purchased a new position in shares of DTE Energy during the 4th quarter valued at approximately $87,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Price Performance

Shares of NYSE DTE opened at $135.79 on Wednesday. The firm has a 50-day simple moving average of $132.97 and a 200-day simple moving average of $126.11. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. The stock has a market capitalization of $28.18 billion, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 2.41 and a beta of 0.49. DTE Energy has a 52 week low of $108.40 and a 52 week high of $140.39.

DTE Energy (NYSE:DTE – Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. On average, equities analysts predict that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th were paid a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date was Monday, March 17th. DTE Energy’s dividend payout ratio (DPR) is presently 64.40%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Barclays lowered shares of DTE Energy from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $137.00 to $135.00 in a research report on Thursday, February 20th. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Guggenheim raised their price objective on DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a report on Friday, March 21st. Morgan Stanley upped their target price on DTE Energy from $131.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Finally, BMO Capital Markets increased their target price on DTE Energy from $135.00 to $142.00 and gave the company a “market perform” rating in a research report on Monday. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $139.17.

View Our Latest Stock Analysis on DTE

Insider Transactions at DTE Energy

In other DTE Energy news, CAO Tracy J. Myrick sold 1,014 shares of DTE Energy stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total value of $131,738.88. Following the sale, the chief accounting officer now owns 3,437 shares in the company, valued at $446,535.04. The trade was a 22.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joann Chavez sold 7,062 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $132.40, for a total value of $935,008.80. Following the transaction, the senior vice president now owns 14,067 shares of the company’s stock, valued at approximately $1,862,470.80. This represents a 33.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,877 shares of company stock worth $1,559,205 in the last quarter. Company insiders own 0.33% of the company’s stock.

About DTE Energy

(Free Report)

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.

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