Neo Ivy Capital Management Makes New Investment in DTE Energy (NYSE:DTE)

Neo Ivy Capital Management bought a new stake in shares of DTE Energy (NYSE:DTE - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 14,738 shares of the utilities provider's stock, valued at approximately $1,892,000.

A number of other large investors also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC grew its stake 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 worth $461,000 after acquiring an additional 81 shares in the last quarter. Signaturefd LLC grew its holdings in shares of 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 purchasing an additional 86 shares during the last quarter. Aptus Capital Advisors LLC grew its holdings in shares of 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 purchasing an additional 94 shares during the last quarter. ASB Consultores LLC boosted its holdings 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. Finally, Centennial Wealth Advisory LLC lifted its stake in DTE Energy by 2.1% in the third quarter. Centennial Wealth Advisory LLC now owns 5,338 shares of the utilities provider's stock valued at $685,000 after buying an additional 110 shares during the period. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DTE. StockNews.com raised DTE Energy from a "sell" rating to a "hold" rating in a research report on Tuesday, November 5th. Mizuho boosted their target price on DTE Energy from $121.00 to $133.00 and gave the company an "outperform" rating in a research note on Tuesday, September 10th. UBS Group raised DTE Energy from a "neutral" rating to a "buy" rating and upped their price target for the company from $129.00 to $143.00 in a report on Tuesday, December 3rd. Wells Fargo & Company upped their price target on DTE Energy from $133.00 to $145.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. Finally, BMO Capital Markets upped their price target on DTE Energy from $135.00 to $140.00 and gave the stock 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 company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $133.54.

DTE Energy Price Performance

Shares of DTE stock traded down $0.89 during trading hours on Wednesday, reaching $121.08. The company had a trading volume of 518,221 shares, compared to its average volume of 1,122,444. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.62 and a current ratio of 0.83. The stock has a fifty day moving average of $124.12 and a 200-day moving average of $120.41. The company has a market capitalization of $25.08 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 2.24 and a beta of 0.68. DTE Energy has a 12-month low of $102.17 and a 12-month high of $131.66.

DTE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a $1.09 dividend. The ex-dividend date of this dividend is Monday, December 16th. This is a boost from DTE Energy's previous quarterly dividend of $1.02. This represents a $4.36 dividend on an annualized basis and a yield of 3.60%. DTE Energy's dividend payout ratio is currently 59.08%.

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.