State of Alaska Department of Revenue reduced its stake in shares of DTE Energy (NYSE:DTE - Free Report) by 23.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,617 shares of the utilities provider's stock after selling 7,050 shares during the quarter. State of Alaska Department of Revenue's holdings in DTE Energy were worth $2,851,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new stake in shares of DTE Energy in the third quarter valued at approximately $30,000. Ashton Thomas Securities LLC acquired a new stake in shares of DTE Energy in the third quarter valued at approximately $35,000. Prospera Private Wealth LLC acquired a new stake in shares of DTE Energy in the third quarter valued at approximately $35,000. Versant Capital Management Inc grew its position in shares of DTE Energy by 890.0% in the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider's stock valued at $36,000 after purchasing an additional 267 shares during the last quarter. Finally, Coastline Trust Co acquired a new stake in shares of DTE Energy in the third quarter valued at approximately $39,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts recently issued reports on the stock. Guggenheim upgraded shares of DTE Energy from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd. Jefferies Financial Group assumed coverage on shares of DTE Energy in a research report on Monday, October 21st. They set a "hold" rating and a $137.00 target price on the stock. StockNews.com lowered shares of DTE Energy from a "hold" rating to a "sell" rating in a research report on Thursday. Morgan Stanley decreased their target price on shares of DTE Energy from $131.00 to $128.00 and set an "overweight" rating on the stock in a research report on Friday, November 22nd. Finally, Scotiabank raised their target price on shares of DTE Energy from $137.00 to $147.00 and gave the stock a "sector outperform" rating in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $136.25.
Get Our Latest Stock Analysis on DTE Energy
DTE Energy Stock Up 3.0 %
DTE stock traded up $3.71 during mid-day trading on Thursday, hitting $127.90. 2,582,425 shares of the company were exchanged, compared to its average volume of 1,153,397. DTE Energy has a twelve month low of $103.06 and a twelve month high of $131.66. The firm has a fifty day simple moving average of $120.98 and a 200 day simple moving average of $122.94. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 1.76. The company has a market capitalization of $26.49 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 2.25 and a beta of 0.68.
DTE Energy (NYSE:DTE - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.50 by $0.01. DTE Energy had a net margin of 12.33% and a return on equity of 13.42%. On average, research analysts forecast that DTE Energy will post 6.77 earnings per share for the current fiscal year.
DTE Energy Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be given a $1.09 dividend. The ex-dividend date is Monday, March 17th. This represents a $4.36 annualized dividend and a yield of 3.41%. DTE Energy's dividend payout ratio is presently 59.08%.
About DTE Energy
(
Free Report)
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.
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