Pinnacle Associates Ltd. Has $636,000 Stake in DTE Energy (NYSE:DTE)

Pinnacle Associates Ltd. raised its position in DTE Energy (NYSE:DTEGet Rating) by 4.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 5,525 shares of the utilities provider’s stock after buying an additional 223 shares during the period. Pinnacle Associates Ltd.’s holdings in DTE Energy were worth $636,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of DTE. Vantage Consulting Group Inc increased its stake in shares of DTE Energy by 4.1% in the second quarter. Vantage Consulting Group Inc now owns 2,000 shares of the utilities provider’s stock valued at $253,000 after buying an additional 78 shares during the period. Independent Advisor Alliance increased its position in DTE Energy by 1.3% in the 2nd quarter. Independent Advisor Alliance now owns 6,282 shares of the utilities provider’s stock valued at $796,000 after acquiring an additional 79 shares during the period. Financial Gravity Asset Management Inc. raised its stake in shares of DTE Energy by 8.2% during the second quarter. Financial Gravity Asset Management Inc. now owns 1,143 shares of the utilities provider’s stock valued at $339,000 after acquiring an additional 87 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in shares of DTE Energy by 70.7% during the second quarter. Lazard Asset Management LLC now owns 210 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 87 shares during the period. Finally, Ieq Capital LLC lifted its holdings in DTE Energy by 5.3% during the 2nd quarter. Ieq Capital LLC now owns 1,836 shares of the utilities provider’s stock worth $233,000 after buying an additional 92 shares during the period. 74.55% of the stock is currently owned by institutional investors.

DTE Energy Stock Performance

Shares of DTE Energy stock opened at $117.93 on Tuesday. The business has a 50-day simple moving average of $116.56 and a 200 day simple moving average of $121.20. The firm has a market capitalization of $22.85 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 3.14 and a beta of 0.58. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.79 and a quick ratio of 0.60. DTE Energy has a one year low of $100.64 and a one year high of $140.23.

DTE Energy (NYSE:DTEGet Rating) last released its quarterly earnings data on Thursday, October 27th. The utilities provider reported $1.60 EPS for the quarter, beating the consensus estimate of $1.58 by $0.02. DTE Energy had a return on equity of 12.90% and a net margin of 5.79%. The firm had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $4 billion. During the same quarter in the previous year, the company posted $1.72 earnings per share. On average, research analysts anticipate that DTE Energy will post 6.02 earnings per share for the current fiscal year.

DTE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, January 15th. Shareholders of record on Monday, December 19th were paid a $0.952 dividend. This represents a $3.81 dividend on an annualized basis and a dividend yield of 3.23%. This is a positive change from DTE Energy’s previous quarterly dividend of $0.89. The ex-dividend date was Friday, December 16th. DTE Energy’s dividend payout ratio (DPR) is 65.92%.

Wall Street Analysts Forecast Growth

DTE has been the topic of a number of recent analyst reports. Wolfe Research raised DTE Energy from a “peer perform” rating to an “outperform” rating and set a $125.00 price objective on the stock in a research note on Thursday, December 8th. Morgan Stanley lifted their target price on shares of DTE Energy from $123.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, December 15th. StockNews.com started coverage on shares of DTE Energy in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. TheStreet lowered DTE Energy from a “b” rating to a “c+” rating in a research report on Thursday, October 6th. Finally, Citigroup cut their target price on DTE Energy from $146.00 to $139.00 in a research report on Friday, October 28th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $130.33.

About DTE Energy

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DTE Energy Co operates as a diversified energy company, which engages in the development and management of energy-related businesses and services. It operates through the following segments: Electric, Gas, DTE Vantage, Energy Trading, and Corporate and Other. The Electric segment consists of generation, purchase, distribution, and sale of electricity to residential, commercial, and industrial customers in southeastern Michigan.

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Institutional Ownership by Quarter for DTE Energy (NYSE:DTE)

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