DTE Energy (NYSE:DTE) Stake Cut by Park Avenue Securities LLC

Park Avenue Securities LLC reduced its holdings in DTE Energy (NYSE:DTEGet Rating) by 45.0% in the 3rd quarter, Holdings Channel reports. The fund owned 3,461 shares of the utilities provider’s stock after selling 2,833 shares during the period. Park Avenue Securities LLC’s holdings in DTE Energy were worth $398,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Kestra Private Wealth Services LLC lifted its stake in DTE Energy by 21.1% in the 2nd quarter. Kestra Private Wealth Services LLC now owns 2,867 shares of the utilities provider’s stock worth $363,000 after acquiring an additional 499 shares in the last quarter. ARGI Investment Services LLC lifted its stake in DTE Energy by 15.4% in the 3rd quarter. ARGI Investment Services LLC now owns 13,074 shares of the utilities provider’s stock worth $1,504,000 after acquiring an additional 1,740 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in DTE Energy in the 3rd quarter worth about $1,427,000. Private Trust Co. NA raised its stake in shares of DTE Energy by 12.6% during the 2nd quarter. Private Trust Co. NA now owns 1,721 shares of the utilities provider’s stock worth $218,000 after purchasing an additional 192 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of DTE Energy during the 2nd quarter worth about $1,375,000. 74.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. StockNews.com assumed coverage on DTE Energy in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Wolfe Research raised DTE Energy from a “peer perform” rating to an “outperform” rating and set a $125.00 price target for the company in a research note on Thursday, December 8th. TheStreet raised DTE Energy from a “c+” rating to a “b-” rating in a research note on Friday, January 13th. Morgan Stanley raised their price target on DTE Energy from $123.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, December 15th. Finally, BMO Capital Markets raised their price objective on DTE Energy from $117.00 to $125.00 and gave the company a “market perform” rating in a research note on Tuesday, November 22nd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, DTE Energy currently has a consensus rating of “Moderate Buy” and an average target price of $130.33.

DTE Energy Stock Performance

DTE opened at $113.97 on Friday. The firm has a market capitalization of $22.08 billion, a P/E ratio of 19.72, a price-to-earnings-growth ratio of 3.14 and a beta of 0.58. The stock’s 50 day moving average price is $116.68 and its two-hundred day moving average price is $120.88. The company has a quick ratio of 0.60, a current ratio of 0.79 and a debt-to-equity ratio of 1.94. DTE Energy has a 12-month low of $100.64 and a 12-month high of $140.23.

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

DTE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, January 15th. Stockholders of record on Monday, December 19th were issued a dividend of $0.952 per share. This represents a $3.81 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend was Friday, December 16th. This is a positive change from DTE Energy’s previous quarterly dividend of $0.89. DTE Energy’s dividend payout ratio (DPR) is presently 65.92%.

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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