Janney Montgomery Scott LLC Increases Stock Position in DTE Energy (NYSE:DTE)

Janney Montgomery Scott LLC lifted its holdings in DTE Energy (NYSE:DTE - Free Report) by 12.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 48,892 shares of the utilities provider's stock after purchasing an additional 5,423 shares during the period. Janney Montgomery Scott LLC's holdings in DTE Energy were worth $5,904,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. AQR Capital Management LLC raised its holdings in DTE Energy by 17.2% during the second quarter. AQR Capital Management LLC now owns 73,096 shares of the utilities provider's stock valued at $8,098,000 after acquiring an additional 10,726 shares during the period. Millennium Management LLC raised its position in DTE Energy by 42.4% during the second quarter. Millennium Management LLC now owns 543,299 shares of the utilities provider's stock valued at $60,312,000 after purchasing an additional 161,776 shares during the period. Creative Planning boosted its stake in DTE Energy by 1.8% during the second quarter. Creative Planning now owns 63,014 shares of the utilities provider's stock worth $6,995,000 after buying an additional 1,140 shares during the period. EP Wealth Advisors LLC bought a new position in DTE Energy during the 2nd quarter valued at about $201,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of DTE Energy in the second quarter worth approximately $2,736,000. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

DTE Energy Price Performance

Shares of DTE Energy stock traded down $0.78 during trading hours on Wednesday, reaching $117.82. 1,262,956 shares of the company's stock were exchanged, compared to its average volume of 1,066,225. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.76. The business has a fifty day moving average of $121.56 and a two-hundred day moving average of $122.58. DTE Energy has a 1 year low of $102.78 and a 1 year high of $131.66. The company has a market capitalization of $24.40 billion, a P/E ratio of 15.96, a price-to-earnings-growth ratio of 2.07 and a beta of 0.68.

DTE Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were paid a $1.09 dividend. The ex-dividend date was Monday, December 16th. This is an increase from DTE Energy's previous quarterly dividend of $1.02. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.70%. DTE Energy's dividend payout ratio (DPR) is 59.08%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Jefferies Financial Group started coverage on shares of DTE Energy in a research report on Monday, October 21st. They issued a "hold" rating and a $137.00 price objective for the company. Scotiabank increased their price objective on DTE Energy from $137.00 to $147.00 and gave the company a "sector outperform" rating in a report on Thursday, December 12th. Guggenheim upgraded shares of DTE Energy from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. BMO Capital Markets upped their price objective on shares of DTE Energy from $135.00 to $140.00 and gave the company a "market perform" rating in a report on Friday, October 18th. Finally, Barclays upped their price objective on DTE Energy from $128.00 to $137.00 and gave the stock an "overweight" rating in a research report on Monday, October 7th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $136.25.

DTE Energy Profile

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.