Executive Wealth Management LLC Makes New Investment in DTE Energy (NYSE:DTE)

Executive Wealth Management LLC bought a new position in DTE Energy (NYSE:DTE - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 21,807 shares of the utilities provider's stock, valued at approximately $2,800,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Mizuho Securities USA LLC boosted its position in DTE Energy by 44,009.5% in the 3rd quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider's stock valued at $903,878,000 after buying an additional 7,023,042 shares during the last quarter. State Street Corp lifted its stake in shares of DTE Energy by 7.0% during the third quarter. State Street Corp now owns 10,193,572 shares of the utilities provider's stock valued at $1,319,264,000 after acquiring an additional 662,569 shares during the period. Zimmer Partners LP bought a new position in DTE Energy in the third quarter valued at about $69,894,000. Point72 Asset Management L.P. acquired a new stake in DTE Energy in the third quarter worth about $66,733,000. Finally, National Bank of Canada FI increased its position in DTE Energy by 246.9% in the third quarter. National Bank of Canada FI now owns 282,553 shares of the utilities provider's stock worth $36,282,000 after purchasing an additional 201,096 shares during the period. 76.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DTE. BMO Capital Markets raised their price objective on shares of DTE Energy from $135.00 to $140.00 and gave the company a "market perform" rating in a research note on Friday, October 18th. LADENBURG THALM/SH SH started coverage on DTE Energy in a research note on Wednesday, August 14th. They issued a "buy" rating and a $131.00 price target for the company. UBS Group raised DTE Energy from a "neutral" rating to a "buy" rating and boosted their target price for the company from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Mizuho upped their price target on shares of DTE Energy from $121.00 to $133.00 and gave the company an "outperform" rating in a report on Tuesday, September 10th. Finally, Wells Fargo & Company upped their price target on shares of DTE Energy from $133.00 to $145.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $133.54.

DTE Energy Stock Performance

NYSE:DTE traded up $0.19 during mid-day trading on Tuesday, reaching $121.99. 1,381,294 shares of the company's stock were exchanged, compared to its average volume of 1,125,109. DTE Energy has a one year low of $102.17 and a one year high of $131.66. The firm has a market capitalization of $25.26 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 2.24 and a beta of 0.68. The business's fifty day simple moving average is $124.25 and its two-hundred day simple moving average is $120.34. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors 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 yield of 3.57%. 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 (DPR) is currently 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.