Quantinno Capital Management LP Raises Holdings in DTE Energy (NYSE:DTE)

Quantinno Capital Management LP increased its position in DTE Energy (NYSE:DTE - Free Report) by 33.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,994 shares of the utilities provider's stock after acquiring an additional 4,813 shares during the period. Quantinno Capital Management LP's holdings in DTE Energy were worth $2,439,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Quarry LP grew its holdings in DTE Energy by 28.2% during the 3rd quarter. Quarry LP now owns 832 shares of the utilities provider's stock valued at $107,000 after buying an additional 183 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in DTE Energy in the 3rd quarter worth $650,000. Point72 Asset Management L.P. purchased a new stake in DTE Energy in the 3rd quarter worth $66,733,000. IHT Wealth Management LLC purchased a new stake in shares of DTE Energy in the third quarter worth about $289,000. Finally, Investment Management Corp of Ontario grew its holdings in DTE Energy by 47.4% during the 3rd quarter. Investment Management Corp of Ontario now owns 6,842 shares of the utilities provider's stock valued at $879,000 after buying an additional 2,200 shares in the last quarter. Institutional investors own 76.06% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Bank of America increased their price objective on shares of DTE Energy from $131.00 to $136.00 and gave the company a "buy" rating in a research report on Thursday, August 29th. LADENBURG THALM/SH SH initiated coverage on DTE Energy in a research report on Wednesday, August 14th. They issued a "buy" rating and a $131.00 price target for the company. Barclays boosted their price objective on shares of DTE Energy from $128.00 to $137.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. Mizuho lifted their price target on shares of DTE Energy from $121.00 to $133.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 10th. Finally, Wells Fargo & Company raised their price target on DTE Energy from $133.00 to $145.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, DTE Energy currently has an average rating of "Moderate Buy" and a consensus price target of $133.54.

DTE Energy Price Performance

Shares of NYSE:DTE traded down $1.05 during trading on Wednesday, reaching $120.92. The stock had a trading volume of 579,422 shares, compared to its average volume of 1,122,745. The business has a fifty day moving average price of $124.12 and a 200-day moving average price of $120.41. DTE Energy has a 1-year low of $102.17 and a 1-year high of $131.66. 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 market cap of $25.04 billion, a PE ratio of 16.46, a PEG ratio of 2.24 and a beta of 0.68.

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 $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a yield of 3.61%. This is a positive change from DTE Energy's previous quarterly dividend of $1.02. The ex-dividend date is Monday, December 16th. DTE Energy's dividend payout ratio (DPR) is 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.