Nordea Investment Management AB Increases Stock Position in DTE Energy (NYSE:DTE)

Nordea Investment Management AB increased its stake in shares of DTE Energy (NYSE:DTE - Free Report) by 2,235.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 221,237 shares of the utilities provider's stock after buying an additional 211,763 shares during the quarter. Nordea Investment Management AB owned about 0.11% of DTE Energy worth $26,706,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. GAMMA Investing LLC raised its stake in shares of DTE Energy by 33.5% during the 4th quarter. GAMMA Investing LLC now owns 7,902 shares of the utilities provider's stock worth $954,000 after buying an additional 1,985 shares in the last quarter. Versant Capital Management Inc raised its position in 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 acquiring an additional 267 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in DTE Energy by 5.6% in the third quarter. Principal Financial Group Inc. now owns 261,357 shares of the utilities provider's stock valued at $33,561,000 after acquiring an additional 13,953 shares during the period. Tidal Investments LLC boosted its position in shares of DTE Energy by 4.0% during the 3rd quarter. Tidal Investments LLC now owns 2,490 shares of the utilities provider's stock worth $320,000 after purchasing an additional 96 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of DTE Energy during the 3rd quarter worth $155,000. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on DTE shares. Barclays raised their price objective on shares of DTE Energy from $128.00 to $137.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. Wells Fargo & Company lifted their price target on shares of DTE Energy from $133.00 to $145.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Mizuho raised their price objective on DTE Energy from $121.00 to $133.00 and gave the company an "outperform" rating in a research note on Tuesday, September 10th. Morgan Stanley decreased their target price on DTE Energy from $131.00 to $128.00 and set an "overweight" rating on the stock in a research report on Friday, November 22nd. Finally, BMO Capital Markets raised their price target on DTE Energy from $135.00 to $140.00 and gave the company a "market perform" rating in a research report on Friday, October 18th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $134.31.

DTE Energy Trading Up 0.6 %

NYSE DTE traded up $0.68 during mid-day trading on Wednesday, reaching $121.06. 814,858 shares of the stock were exchanged, compared to its average volume of 830,392. The stock has a market capitalization of $25.07 billion, a PE ratio of 16.40, a PEG ratio of 2.23 and a beta of 0.68. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.62 and a current ratio of 0.83. DTE Energy has a 1-year low of $102.17 and a 1-year high of $131.66. The business's fifty day simple moving average is $121.47 and its 200 day simple moving average is $121.48.

DTE Energy Increases Dividend

The firm 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 $1.09 dividend. This is a boost from DTE Energy's previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Monday, December 16th. This represents a $4.36 annualized dividend and a yield of 3.60%. DTE Energy's payout ratio is 59.08%.

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.