Point72 Asset Management L.P. Buys New Shares in DTE Energy (NYSE:DTE)

Point72 Asset Management L.P. bought a new stake in shares of DTE Energy (NYSE:DTE - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 519,686 shares of the utilities provider's stock, valued at approximately $66,733,000. Point72 Asset Management L.P. owned 0.25% of DTE Energy as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Prospera Private Wealth LLC acquired a new position in DTE Energy in the 3rd quarter valued at approximately $35,000. Ashton Thomas Securities LLC acquired a new position in shares of DTE Energy in the third quarter worth $35,000. Ridgewood Investments LLC acquired a new position in shares of DTE Energy in the second quarter worth $31,000. Coastline Trust Co purchased a new stake in shares of DTE Energy during the third quarter worth $39,000. Finally, Fairscale Capital LLC acquired a new stake in DTE Energy during the second quarter valued at $54,000. Institutional investors and hedge funds own 76.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on DTE. UBS Group raised DTE Energy from a "neutral" rating to a "buy" rating and upped their target price for the stock from $129.00 to $143.00 in a research report on Tuesday. Barclays increased 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. KeyCorp cut shares of DTE Energy from an "overweight" rating to a "sector weight" rating in a research note on Wednesday. Jefferies Financial Group assumed coverage on shares of DTE Energy in a research note on Monday, October 21st. They set a "hold" rating and a $137.00 price target on the stock. Finally, StockNews.com raised shares of DTE Energy from a "sell" rating to a "hold" rating in a research note on Tuesday, November 5th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, DTE Energy presently has a consensus rating of "Moderate Buy" and an average price target of $133.54.

DTE Energy Stock Performance

Shares of DTE Energy stock traded up $0.11 during trading on Thursday, reaching $122.40. The company's stock had a trading volume of 1,094,813 shares, compared to its average volume of 1,121,524. The business's fifty day moving average price is $124.50 and its 200-day moving average price is $120.18. DTE Energy has a one year low of $102.17 and a one year high of $131.66. The firm has a market cap of $25.35 billion, a price-to-earnings ratio of 16.59, a price-to-earnings-growth ratio of 2.27 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 Increases Dividend

The business also recently disclosed 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. This is an increase 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 dividend yield of 3.56%. DTE Energy's dividend payout ratio (DPR) is presently 55.28%.

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.