JPMorgan Chase & Co. Cuts Stake in DTE Energy (NYSE:DTE)

JPMorgan Chase & Co. trimmed its holdings in shares of DTE Energy (NYSE:DTE - Free Report) by 9.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,653,699 shares of the utilities provider's stock after selling 164,998 shares during the quarter. JPMorgan Chase & Co. owned 0.80% of DTE Energy worth $212,352,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC increased its position in shares of DTE Energy by 2.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,588 shares of the utilities provider's stock valued at $461,000 after purchasing an additional 81 shares during the last quarter. Signaturefd LLC increased its holdings in DTE Energy by 3.1% during the third quarter. Signaturefd LLC now owns 2,889 shares of the utilities provider's stock worth $371,000 after buying an additional 86 shares during the last quarter. Aptus Capital Advisors LLC increased its holdings in DTE Energy by 3.7% during the second quarter. Aptus Capital Advisors LLC now owns 2,632 shares of the utilities provider's stock worth $292,000 after buying an additional 94 shares during the last quarter. Tidal Investments LLC raised its position in DTE Energy by 4.0% in the third quarter. Tidal Investments LLC now owns 2,490 shares of the utilities provider's stock worth $320,000 after acquiring an additional 96 shares during the period. Finally, ASB Consultores LLC boosted its stake in DTE Energy by 4.9% in the second quarter. ASB Consultores LLC now owns 2,179 shares of the utilities provider's stock valued at $242,000 after acquiring an additional 101 shares during the last quarter. 76.06% of the stock is currently owned by institutional investors.

DTE Energy Stock Up 0.2 %

Shares of NYSE DTE traded up $0.20 on Tuesday, reaching $120.75. 646,040 shares of the company's stock traded hands, compared to its average volume of 1,135,933. The business's 50 day simple moving average is $122.20 and its two-hundred day simple moving average is $121.13. DTE Energy has a 12 month low of $102.17 and a 12 month high of $131.66. The company has a market cap of $25.01 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 2.23 and a beta of 0.68. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.76.

DTE Energy Increases Dividend

The business also recently disclosed 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 3.61%. 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. DTE Energy's dividend payout ratio (DPR) is 59.08%.

Wall Street Analysts Forecast Growth

DTE has been the topic of a number of research reports. BMO Capital Markets lifted their price target on shares of DTE Energy from $135.00 to $140.00 and gave the stock a "market perform" rating in a report on Friday, October 18th. 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. KeyCorp cut DTE Energy from an "overweight" rating to a "sector weight" rating in a research report on Wednesday, December 4th. Barclays lifted 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. Finally, StockNews.com raised shares of DTE Energy from a "sell" rating to a "hold" rating in a report on Tuesday, November 5th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $134.31.

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.