Swiss National Bank Reduces Holdings in DTE Energy (NYSE:DTE)

Swiss National Bank reduced its stake in shares of DTE Energy (NYSE:DTEFree Report) by 10.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 663,000 shares of the utilities provider’s stock after selling 81,400 shares during the quarter. Swiss National Bank owned about 0.32% of DTE Energy worth $65,823,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of DTE. Capital Research Global Investors raised its stake in shares of DTE Energy by 10.6% during the second quarter. Capital Research Global Investors now owns 17,435,181 shares of the utilities provider’s stock valued at $1,918,219,000 after purchasing an additional 1,669,375 shares in the last quarter. Millennium Management LLC raised its position in DTE Energy by 224.8% in the fourth quarter. Millennium Management LLC now owns 2,379,882 shares of the utilities provider’s stock worth $279,708,000 after acquiring an additional 1,647,053 shares in the last quarter. Vanguard Group Inc. raised its position in DTE Energy by 6.6% in the first quarter. Vanguard Group Inc. now owns 23,028,699 shares of the utilities provider’s stock worth $3,044,624,000 after acquiring an additional 1,420,586 shares in the last quarter. Point72 Asset Management L.P. raised its position in DTE Energy by 89.7% in the second quarter. Point72 Asset Management L.P. now owns 1,515,382 shares of the utilities provider’s stock worth $166,722,000 after acquiring an additional 716,482 shares in the last quarter. Finally, Morgan Stanley raised its position in DTE Energy by 34.8% in the fourth quarter. Morgan Stanley now owns 2,045,650 shares of the utilities provider’s stock worth $240,425,000 after acquiring an additional 527,592 shares in the last quarter. 74.72% of the stock is currently owned by institutional investors.

DTE Energy Stock Up 0.3 %

Shares of DTE stock opened at $104.21 on Wednesday. The stock has a 50 day moving average of $107.96 and a 200-day moving average of $104.75. The company has a quick ratio of 0.57, a current ratio of 0.85 and a debt-to-equity ratio of 1.71. The firm has a market cap of $21.49 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 2.59 and a beta of 0.64. DTE Energy has a 12 month low of $90.14 and a 12 month high of $116.73.

DTE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Monday, March 18th will be paid a $1.02 dividend. The ex-dividend date is Friday, March 15th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.92%. DTE Energy’s payout ratio is 67.44%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DTE. Mizuho lowered their target price on DTE Energy from $121.00 to $106.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. Evercore ISI lifted their target price on DTE Energy from $108.00 to $116.00 and gave the company an “outperform” rating in a research note on Monday, December 4th. Wolfe Research cut DTE Energy from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 16th. StockNews.com cut DTE Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. Finally, Guggenheim cut DTE Energy from a “buy” rating to a “neutral” rating and set a $111.00 price target for the company. in a research note on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.22.

Get Our Latest Analysis on DTE

DTE Energy Company Profile

(Free Report)

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.3 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.

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

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