Principal Financial Group Inc. Has $33.56 Million Stake in DTE Energy (NYSE:DTE)

Principal Financial Group Inc. boosted its holdings in DTE Energy (NYSE:DTE - Free Report) by 5.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 261,357 shares of the utilities provider's stock after purchasing an additional 13,953 shares during the quarter. Principal Financial Group Inc. owned approximately 0.13% of DTE Energy worth $33,561,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Hancock Whitney Corp raised its stake in DTE Energy by 80.0% during the third quarter. Hancock Whitney Corp now owns 12,885 shares of the utilities provider's stock worth $1,655,000 after acquiring an additional 5,725 shares during the period. Bank of Montreal Can grew its stake in DTE Energy by 19.0% during the 2nd quarter. Bank of Montreal Can now owns 269,031 shares of the utilities provider's stock worth $30,220,000 after buying an additional 42,960 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in DTE Energy in the third quarter worth $650,000. Blueshift Asset Management LLC acquired a new position in shares of DTE Energy during the third quarter valued at $583,000. Finally, Duff & Phelps Investment Management Co. grew its position in shares of DTE Energy by 3.5% during the third quarter. Duff & Phelps Investment Management Co. now owns 907,345 shares of the utilities provider's stock worth $116,512,000 after acquiring an additional 30,909 shares during the last quarter. Institutional investors own 76.06% of the company's stock.

DTE Energy Trading Up 0.4 %

NYSE DTE traded up $0.51 on Tuesday, hitting $120.76. 309,908 shares of the stock were exchanged, compared to its average volume of 1,142,201. The company's 50-day moving average price is $123.08 and its two-hundred day moving average price is $120.79. The company has a market capitalization of $25.01 billion, a price-to-earnings ratio of 16.36, a P/E/G ratio of 2.23 and a beta of 0.68. DTE Energy has a 52-week low of $102.17 and a 52-week high of $131.66. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62.

DTE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be paid a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 3.61%. The ex-dividend date is Monday, December 16th. This is a boost from DTE Energy's previous quarterly dividend of $1.02. DTE Energy's payout ratio is 59.08%.

Analyst Upgrades and Downgrades

DTE has been the subject of several recent analyst reports. Morgan Stanley decreased their target price on shares of DTE Energy from $131.00 to $128.00 and set an "overweight" rating for the company in a research report on Friday, November 22nd. UBS Group raised DTE Energy from a "neutral" rating to a "buy" rating and lifted their target price for the company from $129.00 to $143.00 in a research note on Tuesday, December 3rd. BMO Capital Markets upped 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. Jefferies Financial Group started coverage on DTE Energy in a research note on Monday, October 21st. They set a "hold" rating and a $137.00 target price for the company. Finally, Mizuho upped their price target on shares of DTE Energy from $121.00 to $133.00 and gave the company an "outperform" rating in a report on Tuesday, September 10th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, DTE Energy currently has a consensus rating of "Moderate Buy" and an average price target 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.