Arvest Bank Trust Division Buys New Position in DTE Energy (NYSE:DTE)

Arvest Bank Trust Division acquired a new stake in DTE Energy (NYSE:DTE - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 80,507 shares of the utilities provider's stock, valued at approximately $10,338,000.

Other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its stake in DTE Energy by 2.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,588 shares of the utilities provider's stock valued at $461,000 after purchasing an additional 81 shares during the last quarter. Signaturefd LLC lifted its stake in shares of DTE Energy by 3.1% in the 3rd quarter. Signaturefd LLC now owns 2,889 shares of the utilities provider's stock valued at $371,000 after acquiring an additional 86 shares during the last quarter. Aptus Capital Advisors LLC boosted its holdings in shares of DTE Energy by 3.7% during the 2nd quarter. Aptus Capital Advisors LLC now owns 2,632 shares of the utilities provider's stock valued at $292,000 after acquiring an additional 94 shares in the last quarter. ASB Consultores LLC grew its position in DTE Energy by 4.9% during the 2nd quarter. ASB Consultores LLC now owns 2,179 shares of the utilities provider's stock worth $242,000 after acquiring an additional 101 shares during the last quarter. Finally, Centennial Wealth Advisory LLC grew its position in DTE Energy by 2.1% during the 3rd quarter. Centennial Wealth Advisory LLC now owns 5,338 shares of the utilities provider's stock worth $685,000 after acquiring an additional 110 shares during the last quarter. 76.06% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Stock Down 0.2 %

DTE traded down $0.22 during midday trading on Thursday, hitting $120.78. The company had a trading volume of 1,287,382 shares, compared to its average volume of 1,127,193. The company has a market capitalization of $25.01 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 2.24 and a beta of 0.68. The stock's 50 day moving average price is $123.96 and its 200 day moving average price is $120.41. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.76. DTE Energy has a 52 week low of $102.17 and a 52 week high of $131.66.

DTE Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be given a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.61%. This is a positive change from DTE Energy's previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Monday, December 16th. DTE Energy's dividend payout ratio is presently 59.08%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on DTE shares. Scotiabank boosted their price target on DTE Energy from $137.00 to $147.00 and gave the stock a "sector outperform" rating in a report on Thursday. LADENBURG THALM/SH SH began coverage on shares of DTE Energy in a research report on Wednesday, August 14th. They issued a "buy" rating and a $131.00 price target for the company. Morgan Stanley cut their price target on shares of DTE Energy from $131.00 to $128.00 and set an "overweight" rating on the stock in a report on Friday, November 22nd. Jefferies Financial Group assumed coverage on DTE Energy in a report on Monday, October 21st. They issued a "hold" rating and a $137.00 price objective for the company. Finally, StockNews.com raised DTE Energy from a "sell" rating to a "hold" rating in a report on Tuesday, November 5th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $134.31.

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.