Geode Capital Management LLC Has $614.96 Million Stock Position in DTE Energy (NYSE:DTE)

Geode Capital Management LLC raised its position in shares of DTE Energy (NYSE:DTE - Free Report) by 0.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,805,701 shares of the utilities provider's stock after purchasing an additional 4,517 shares during the quarter. Geode Capital Management LLC owned 2.32% of DTE Energy worth $614,955,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Hancock Whitney Corp raised its position in DTE Energy by 80.0% during the third quarter. Hancock Whitney Corp now owns 12,885 shares of the utilities provider's stock valued at $1,655,000 after buying an additional 5,725 shares during the period. Bank of Montreal Can increased its holdings in shares of DTE Energy by 19.0% in the 2nd quarter. Bank of Montreal Can now owns 269,031 shares of the utilities provider's stock valued at $30,220,000 after purchasing an additional 42,960 shares during the period. Point72 DIFC Ltd acquired a new position in shares of DTE Energy in the 3rd quarter valued at about $650,000. Blueshift Asset Management LLC acquired a new stake in shares of DTE Energy during the third quarter worth approximately $583,000. Finally, Duff & Phelps Investment Management Co. boosted its holdings in shares of DTE Energy by 3.5% during the third quarter. Duff & Phelps Investment Management Co. now owns 907,345 shares of the utilities provider's stock worth $116,512,000 after purchasing an additional 30,909 shares during the period. Hedge funds and other institutional investors own 76.06% of the company's stock.

DTE Energy Stock Performance

Shares of DTE Energy stock traded up $0.49 on Friday, reaching $121.27. The stock had a trading volume of 1,439,497 shares, compared to its average volume of 1,128,490. DTE Energy has a fifty-two week low of $102.17 and a fifty-two week high of $131.66. The business's 50-day moving average price is $123.83 and its two-hundred day moving average price is $120.41. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.62 and a current ratio of 0.83. The stock has a market cap of $25.12 billion, a P/E ratio of 16.37, a price-to-earnings-growth ratio of 2.23 and a beta of 0.68.

DTE Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be issued a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 3.60%. This is a boost from DTE Energy's previous quarterly dividend of $1.02. The ex-dividend date is Monday, December 16th. DTE Energy's dividend payout ratio is 55.28%.

Wall Street Analysts Forecast Growth

DTE has been the subject of a number of research analyst reports. UBS Group upgraded shares of DTE Energy from a "neutral" rating to a "buy" rating and increased their target price for the stock from $129.00 to $143.00 in a research report on Tuesday, December 3rd. Barclays increased their price objective on DTE Energy from $128.00 to $137.00 and gave the stock an "overweight" rating in a report on Monday, October 7th. Morgan Stanley lowered their target price on DTE Energy from $131.00 to $128.00 and set an "overweight" rating on the stock in a research note on Friday, November 22nd. Jefferies Financial Group began coverage on DTE Energy in a research note on Monday, October 21st. They set a "hold" rating and a $137.00 price target for the company. Finally, KeyCorp cut DTE Energy from an "overweight" rating to a "sector weight" rating in a research note on Wednesday, December 4th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.