FMR LLC raised its holdings in DTE Energy (NYSE:DTE - Free Report) by 6.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 342,608 shares of the utilities provider's stock after buying an additional 19,678 shares during the quarter. FMR LLC owned about 0.17% of DTE Energy worth $43,994,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DTE. Cetera Advisors LLC purchased a new position in shares of DTE Energy in the first quarter worth about $708,000. Cetera Investment Advisers raised its stake in shares of DTE Energy by 242.0% in the first quarter. Cetera Investment Advisers now owns 29,306 shares of the utilities provider's stock worth $3,286,000 after purchasing an additional 20,737 shares during the last quarter. Hancock Whitney Corp raised its stake in shares of DTE Energy by 80.0% in the third quarter. Hancock Whitney Corp now owns 12,885 shares of the utilities provider's stock worth $1,655,000 after purchasing an additional 5,725 shares during the last quarter. Bank of Montreal Can raised its stake in shares of DTE Energy by 19.0% in the second quarter. Bank of Montreal Can now owns 269,031 shares of the utilities provider's stock worth $30,220,000 after purchasing an additional 42,960 shares during the last quarter. Finally, Entropy Technologies LP raised its stake in shares of DTE Energy by 10.9% in the third quarter. Entropy Technologies LP now owns 45,182 shares of the utilities provider's stock worth $5,802,000 after purchasing an additional 4,441 shares during the last quarter. 76.06% of the stock is currently owned by hedge funds and other institutional investors.
DTE Energy Price Performance
DTE traded down $0.85 during trading on Friday, hitting $121.57. The company's stock had a trading volume of 1,382,119 shares, compared to its average volume of 1,592,731. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 1.76. DTE Energy has a twelve month low of $102.17 and a twelve month high of $131.66. The business's fifty day simple moving average is $124.38 and its 200 day simple moving average is $120.24. The firm has a market capitalization of $25.18 billion, a price-to-earnings ratio of 16.47, a P/E/G ratio of 2.25 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. Stockholders of record on Monday, December 16th will be paid a $1.09 dividend. The ex-dividend date of this dividend is Monday, December 16th. This is a positive change 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 3.59%. DTE Energy's payout ratio is currently 55.28%.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on DTE shares. KeyCorp cut DTE Energy from an "overweight" rating to a "sector weight" rating in a research note on Wednesday. BMO Capital Markets lifted 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. Jefferies Financial Group initiated coverage on DTE Energy in a research report on Monday, October 21st. They set a "hold" rating and a $137.00 price target for the company. Barclays lifted their price target on DTE Energy from $128.00 to $137.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. Finally, LADENBURG THALM/SH SH initiated coverage on DTE Energy in a research report on Wednesday, August 14th. They set a "buy" rating and a $131.00 price target for the company. Seven 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 presently has a consensus rating of "Moderate Buy" and an average price target of $133.54.
Read Our Latest Stock Report on DTE Energy
DTE Energy Company Profile
(
Free Report)
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.
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