DTE Energy’s chief accounting officer sells $131,738 in stock

DETROIT—Myrick Tracy J, the Chief Accounting Officer of DTE Energy Co. (NYSE:DTE), recently sold a portion of the company’s stock, according to a filing with the Securities and Exchange Commission. The utility company, currently valued at $27.3 billion, has maintained a "GOOD" financial health score according to InvestingPro analysis.

The transaction, which took place on February 19, involved the sale of 1,014 shares of common stock at a price of $129.92 per share, resulting in a total value of approximately $131,738. Following the sale, Myrick retains direct ownership of 3,437 shares. The stock is currently trading near its 52-week high of $131.66, with analysts setting price targets ranging from $124 to $147 per share.

In addition to the shares held directly, Myrick also has indirect ownership of 995.13 shares through the DTE Energy Company Savings and Stock Ownership Plan, as noted in a plan statement dated February 19, 2025.

This transaction provides a glimpse into the stock activities of DTE Energy’s senior executives, offering investors valuable insights into insider trading activities within the company.

In other recent news, DTE Energy reported strong financial results for the fourth quarter of 2024, with revenue surpassing expectations at $3.43 billion, though earnings per share (EPS) slightly missed analyst forecasts, coming in at $1.51 against a projected $1.57. This performance reflects the company’s robust revenue growth, although it highlights some challenges in achieving profitability targets. Barclays (LON:BARC) recently downgraded DTE Energy’s stock from Overweight to Equal Weight, citing concerns about long-term earnings quality and balance sheet management. However, BMO Capital Markets maintained its Market Perform rating on the company while raising the stock’s price target to $135, expressing confidence in DTE Energy’s growth potential.

Additionally, DTE Energy has set new performance metrics for executive compensation, linking it to financial and operational performance indicators, such as Operating Earnings Per Share and Customer Satisfaction Score. The company continues to invest significantly in renewable energy, with plans to allocate $10 billion over the next five years to enhance grid reliability and reduce outage durations. These strategic moves align with DTE Energy’s commitment to long-term growth, targeting a 6-8% increase in operating EPS through 2029.

DTE Energy’s focus on renewable energy and grid improvements is further underscored by its strategic capital investment plan, which includes a potential $30 billion over the next five years. This plan supports the company’s aim to modernize its electric grid and transition to cleaner energy sources, positioning it well for sustainable growth despite minor EPS setbacks.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.