Lazard Asset Management LLC Increases Stake in DTE Energy (NYSE:DTE)

Lazard Asset Management LLC lifted its holdings in DTE Energy (NYSE:DTE - Free Report) by 78.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,547 shares of the utilities provider's stock after buying an additional 2,444 shares during the quarter. Lazard Asset Management LLC's holdings in DTE Energy were worth $669,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in DTE Energy by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 25,286,380 shares of the utilities provider's stock worth $3,053,330,000 after purchasing an additional 879,670 shares during the period. Capital World Investors lifted its holdings in shares of DTE Energy by 123.2% during the fourth quarter. Capital World Investors now owns 6,823,231 shares of the utilities provider's stock valued at $823,905,000 after purchasing an additional 3,766,221 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of DTE Energy by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 4,920,971 shares of the utilities provider's stock worth $592,642,000 after purchasing an additional 115,270 shares in the last quarter. Boston Partners grew its stake in shares of DTE Energy by 25.1% in the 4th quarter. Boston Partners now owns 2,899,823 shares of the utilities provider's stock worth $350,150,000 after buying an additional 582,643 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in DTE Energy by 0.5% during the 4th quarter. Janus Henderson Group PLC now owns 2,732,819 shares of the utilities provider's stock valued at $329,988,000 after buying an additional 12,554 shares in the last quarter. 76.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on DTE shares. Barclays cut shares of DTE Energy from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $137.00 to $135.00 in a report on Thursday, February 20th. BMO Capital Markets boosted their price objective on shares of DTE Energy from $135.00 to $142.00 and gave the stock a "market perform" rating in a report on Monday, April 21st. Guggenheim upped their price objective on DTE Energy from $139.00 to $147.00 and gave the company a "buy" rating in a research report on Friday, March 21st. Evercore ISI lifted their target price on DTE Energy from $136.00 to $145.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Finally, Morgan Stanley decreased their price target on DTE Energy from $136.00 to $134.00 and set an "overweight" rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $140.93.

DTE Energy Stock Performance

NYSE:DTE traded up $1.79 on Monday, hitting $136.41. The stock had a trading volume of 1,069,005 shares, compared to its average volume of 1,249,378. The business's 50-day simple moving average is $134.80 and its two-hundred day simple moving average is $127.98. The stock has a market cap of $28.31 billion, a price-to-earnings ratio of 20.15, a price-to-earnings-growth ratio of 2.41 and a beta of 0.47. DTE Energy has a 52-week low of $108.40 and a 52-week high of $140.39. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77.

DTE Energy (NYSE:DTE - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.98 by $0.12. The company had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.33 billion. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. During the same quarter last year, the firm posted $1.67 earnings per share. As a group, research analysts predict that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be given a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Monday, June 16th. DTE Energy's payout ratio is 58.92%.

DTE Energy Profile

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