Point72 DIFC Ltd Takes Position in DTE Energy (NYSE:DTE)

Point72 DIFC Ltd purchased a new position in shares of DTE Energy (NYSE:DTE - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,061 shares of the utilities provider's stock, valued at approximately $650,000.

Several other institutional investors have also modified their holdings of DTE. Ridgewood Investments LLC acquired a new stake in DTE Energy during the 2nd quarter worth approximately $31,000. Ashton Thomas Securities LLC bought a new stake in shares of DTE Energy during the third quarter worth $35,000. Prospera Private Wealth LLC acquired a new stake in shares of DTE Energy during the third quarter worth $35,000. Coastline Trust Co bought a new stake in DTE Energy in the 3rd quarter valued at $39,000. Finally, Fairscale Capital LLC acquired a new position in DTE Energy in the 2nd quarter worth $54,000. Institutional investors own 76.06% of the company's stock.

DTE Energy Stock Performance

Shares of DTE stock traded down $0.86 on Friday, reaching $121.57. The stock had a trading volume of 1,381,973 shares, compared to its average volume of 1,122,628. DTE Energy has a 12 month low of $102.17 and a 12 month high of $131.66. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.76. The firm has a market capitalization of $25.18 billion, a price-to-earnings ratio of 16.47, a P/E/G ratio of 2.27 and a beta of 0.68. The firm's 50-day moving average is $124.50 and its two-hundred day moving average is $120.18.

DTE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be given a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.59%. This is a boost 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 presently 59.08%.

Wall Street Analysts Forecast Growth

DTE has been the topic of a number of research reports. KeyCorp lowered DTE Energy from an "overweight" rating to a "sector weight" rating in a report on Wednesday. LADENBURG THALM/SH SH began coverage on DTE Energy in a research note on Wednesday, August 14th. They issued a "buy" rating and a $131.00 target price on the stock. BMO Capital Markets raised their price target on shares of DTE Energy from $135.00 to $140.00 and gave the stock a "market perform" rating in a research note on Friday, October 18th. UBS Group raised shares of DTE Energy from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $129.00 to $143.00 in a research report on Tuesday. Finally, Jefferies Financial Group began coverage on shares of DTE Energy in a research report on Monday, October 21st. They issued a "hold" rating and a $137.00 target price for the company. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $133.54.

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.