California State Teachers Retirement System Decreases Stock Holdings in DTE Energy (NYSE:DTE)

California State Teachers Retirement System lessened its stake in shares of DTE Energy (NYSE:DTE – Get Rating) by 1.5% during the third quarter, HoldingsChannel.com reports. The fund owned 306,166 shares of the utilities provider’s stock after selling 4,519 shares during the quarter. California State Teachers Retirement System’s holdings in DTE Energy were worth $35,224,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Vantage Consulting Group Inc grew its holdings 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 purchasing an additional 78 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of DTE Energy by 70.7% in the 2nd quarter. Lazard Asset Management LLC now owns 210 shares of the utilities provider’s stock worth $26,000 after buying an additional 87 shares in the last quarter. Riverview Trust Co grew its stake in shares of DTE Energy by 5.6% in the 3rd quarter. Riverview Trust Co now owns 1,860 shares of the utilities provider’s stock worth $214,000 after buying an additional 99 shares in the last quarter. Utah Retirement Systems increased its position in shares of DTE Energy by 0.3% during the 3rd quarter. Utah Retirement Systems now owns 34,459 shares of the utilities provider’s stock valued at $3,965,000 after purchasing an additional 100 shares during the last quarter. Finally, Stephens Inc. AR raised its stake in shares of DTE Energy by 4.0% in the third quarter. Stephens Inc. AR now owns 2,629 shares of the utilities provider’s stock valued at $303,000 after acquiring an additional 102 shares during the period. 74.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DTE. Morgan Stanley dropped their price objective on DTE Energy from $130.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 22nd. Mizuho raised their price target on DTE Energy from $115.00 to $122.00 and gave the company a “buy” rating in a research note on Monday, November 21st. BMO Capital Markets upped their price objective on shares of DTE Energy from $117.00 to $125.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 22nd. TheStreet upgraded DTE Energy from a “c+” rating to a “b-” rating in a research note on Friday, January 13th. Finally, StockNews.com started coverage on DTE Energy in a research note on Thursday. They issued a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $129.22.

DTE Energy Price Performance

Shares of DTE opened at $107.04 on Friday. The business’s 50-day moving average is $112.76 and its two-hundred day moving average is $115.98. The company has a market capitalization of $22.02 billion, a P/E ratio of 19.39, a P/E/G ratio of 2.88 and a beta of 0.58. DTE Energy has a fifty-two week low of $100.64 and a fifty-two week high of $140.23. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.63 and a current ratio of 0.81.

DTE Energy (NYSE:DTE – Get Rating) last posted its earnings results on Thursday, February 23rd. The utilities provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.24 by $0.07. DTE Energy had a return on equity of 12.99% and a net margin of 5.63%. The firm had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.07 billion. During the same period last year, the company earned $1.05 earnings per share. Research analysts predict that DTE Energy will post 6.22 earnings per share for the current year.

DTE Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, April 15th. Stockholders of record on Monday, March 20th will be issued a dividend of $0.9525 per share. This represents a $3.81 annualized dividend and a dividend yield of 3.56%. This is a positive change from DTE Energy’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend is Friday, March 17th. DTE Energy’s payout ratio is 69.02%.

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.