State Board of Administration of Florida Retirement System Has $18.79 Million Stake in DTE Energy (NYSE:DTE)

State Board of Administration of Florida Retirement System cut its position in DTE Energy (NYSE:DTEFree Report) by 14.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 189,215 shares of the utilities provider’s stock after selling 32,050 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.09% of DTE Energy worth $18,785,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Mcmillion Capital Management Inc. acquired a new position in DTE Energy during the second quarter valued at approximately $29,000. Farther Finance Advisors LLC raised its holdings in shares of DTE Energy by 180.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 328 shares of the utilities provider’s stock worth $36,000 after buying an additional 211 shares in the last quarter. Milestone Investment Advisors LLC bought a new stake in shares of DTE Energy during the 3rd quarter worth $36,000. Compagnie Lombard Odier SCmA acquired a new stake in DTE Energy in the third quarter valued at about $37,000. Finally, Householder Group Estate & Retirement Specialist LLC acquired a new stake in DTE Energy in the third quarter valued at about $41,000. Institutional investors own 74.72% of the company’s stock.

DTE Energy Price Performance

Shares of DTE opened at $104.41 on Friday. The business has a 50-day moving average of $107.91 and a 200-day moving average of $104.60. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.85 and a quick ratio of 0.57. The company has a market capitalization of $21.54 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 2.60 and a beta of 0.64. DTE Energy has a 1 year low of $90.14 and a 1 year high of $116.73.

DTE Energy (NYSE:DTEGet Free Report) last released its quarterly earnings results on Thursday, February 8th. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.01. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $4.97 billion. DTE Energy had a net margin of 10.96% and a return on equity of 11.10%. During the same quarter last year, the business earned $1.31 EPS. As a group, equities research analysts anticipate that DTE Energy will post 6.7 earnings per share for the current year.

DTE Energy Dividend Announcement

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 issued a $1.02 dividend. The ex-dividend date of this dividend is Friday, March 15th. This represents a $4.08 annualized dividend and a yield of 3.91%. DTE Energy’s payout ratio is 60.36%.

Wall Street Analyst Weigh In

DTE has been the subject of a number of research reports. Evercore ISI increased their target price on shares of DTE Energy from $108.00 to $116.00 and gave the stock an “outperform” rating in a report on Monday, December 4th. KeyCorp raised their target price on shares of DTE Energy from $106.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, January 4th. Mizuho decreased their target price on shares of DTE Energy from $121.00 to $106.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. 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. Finally, BMO Capital Markets boosted their price objective on DTE Energy from $107.00 to $111.00 and gave the stock a “market perform” rating in a research report on Monday, December 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.22.

Check Out Our Latest Stock Analysis on DTE

DTE Energy 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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