Smith Group Asset Management LLC Purchases New Position in DTE Energy (NYSE:DTE)

Smith Group Asset Management LLC purchased a new stake in DTE Energy (NYSE:DTE - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 3,000 shares of the utilities provider's stock, valued at approximately $362,000.

Other large investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its stake in DTE Energy by 2,235.2% in the fourth quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider's stock valued at $26,706,000 after acquiring an additional 211,763 shares during the last quarter. Patton Albertson Miller Group LLC lifted its stake in DTE Energy by 7.6% in the fourth quarter. Patton Albertson Miller Group LLC now owns 46,931 shares of the utilities provider's stock valued at $5,667,000 after acquiring an additional 3,306 shares during the last quarter. Hancock Whitney Corp lifted its stake in DTE Energy by 80.0% in the third quarter. Hancock Whitney Corp now owns 12,885 shares of the utilities provider's stock valued at $1,655,000 after acquiring an additional 5,725 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in DTE Energy in the third quarter valued at $650,000. Finally, Blueshift Asset Management LLC acquired a new stake in shares of DTE Energy during the 3rd quarter worth about $583,000. Institutional investors and hedge funds own 76.06% of the company's stock.

Analysts Set New Price Targets

DTE has been the subject of a number of research reports. BMO Capital Markets raised their target price 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. Guggenheim upgraded shares of DTE Energy from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. Morgan Stanley cut 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 note on Friday, November 22nd. Barclays raised their target price on shares of DTE Energy from $128.00 to $137.00 and gave the stock an "overweight" rating in a research note on Monday, October 7th. Finally, StockNews.com upgraded shares of DTE Energy from a "sell" rating to a "hold" rating in a research note on Friday, January 24th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $136.25.

DTE Energy Price Performance

DTE stock traded up $1.55 during mid-day trading on Thursday, hitting $119.15. The stock had a trading volume of 150,604 shares, compared to its average volume of 1,016,059. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 1.76. DTE Energy has a 52 week low of $102.78 and a 52 week high of $131.66. The firm has a market capitalization of $24.67 billion, a P/E ratio of 16.14, a P/E/G ratio of 2.07 and a beta of 0.68. The firm has a fifty day simple moving average of $121.47 and a 200 day simple moving average of $122.54.

DTE Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were issued a $1.09 dividend. This is a positive change from DTE Energy's previous quarterly dividend of $1.02. This represents a $4.36 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend was Monday, December 16th. DTE Energy's dividend payout ratio (DPR) is currently 59.08%.

DTE Energy Company 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.