GAMMA Investing LLC Grows Holdings in DTE Energy (NYSE:DTE)

GAMMA Investing LLC boosted its position in DTE Energy (NYSE:DTE - Free Report) by 14,878.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,183,591 shares of the utilities provider's stock after purchasing an additional 1,175,689 shares during the quarter. GAMMA Investing LLC owned approximately 0.57% of DTE Energy worth $163,655,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of DTE. Capital World Investors raised its stake in shares of DTE Energy by 123.2% during the 4th quarter. Capital World Investors now owns 6,823,231 shares of the utilities provider's stock worth $823,905,000 after acquiring an additional 3,766,221 shares in the last quarter. Vanguard Group Inc. increased its position in shares of DTE Energy by 3.6% during 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 in the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of DTE Energy by 1,794.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 920,569 shares of the utilities provider's stock valued at $111,159,000 after purchasing an additional 871,978 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of DTE Energy by 750.0% in the 4th quarter. AQR Capital Management LLC now owns 964,655 shares of the utilities provider's stock worth $116,482,000 after purchasing an additional 851,169 shares in the last quarter. Finally, Invesco Ltd. grew its stake in DTE Energy by 50.2% during the 4th quarter. Invesco Ltd. now owns 2,462,592 shares of the utilities provider's stock worth $297,358,000 after buying an additional 822,854 shares during the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Stock Performance

Shares of NYSE:DTE traded down $1.39 during midday trading on Wednesday, reaching $134.17. The company's stock had a trading volume of 369,202 shares, compared to its average volume of 1,392,526. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. The stock has a fifty day moving average of $134.83 and a 200 day moving average of $128.62. DTE Energy has a twelve month low of $108.40 and a twelve month high of $140.39. The firm has a market capitalization of $27.84 billion, a PE ratio of 19.82, a P/E/G ratio of 2.41 and a beta of 0.47.

DTE Energy (NYSE:DTE - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.10 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 12.42% and a net margin of 11.27%. During the same period last year, the firm earned $1.67 EPS. On average, equities analysts expect that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be given a $1.09 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.36 annualized dividend and a yield of 3.25%. DTE Energy's dividend payout ratio is presently 58.92%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Barclays cut DTE Energy from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $137.00 to $135.00 in a research note on Thursday, February 20th. Wall Street Zen lowered shares of DTE Energy from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Wells Fargo & Company boosted their target price on shares of DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Evercore ISI raised their price target on shares of DTE Energy from $136.00 to $145.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Finally, Citigroup reiterated a "buy" rating and set a $151.00 price objective (up from $142.00) on shares of DTE Energy in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, DTE Energy presently has a consensus rating of "Moderate Buy" and an average target price of $140.93.

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.