Jennison Associates LLC Has $75.23 Million Holdings in DTE Energy Company (NYSE:DTE)

Jennison Associates LLC lessened its holdings in DTE Energy Company (NYSE:DTE - Free Report) by 1.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 544,053 shares of the utilities provider's stock after selling 7,252 shares during the quarter. Jennison Associates LLC owned 0.26% of DTE Energy worth $75,226,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Cloud Capital Management LLC purchased a new stake in shares of DTE Energy during the 1st quarter worth approximately $25,000. Olde Wealth Management LLC purchased a new stake in shares of DTE Energy during the 1st quarter worth approximately $27,000. Mattson Financial Services LLC purchased a new stake in shares of DTE Energy during the 4th quarter worth approximately $38,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of DTE Energy during the 1st quarter worth approximately $41,000. Finally, Bank of New Hampshire purchased a new stake in shares of DTE Energy during the 1st quarter worth approximately $55,000. Hedge funds and other institutional investors own 76.06% of the company's stock.

DTE Energy Stock Performance

Shares of DTE traded up $2.49 during mid-day trading on Friday, reaching $137.22. 1,690,920 shares of the company's stock traded hands, compared to its average volume of 1,303,595. The business's 50-day moving average price is $133.95 and its 200-day moving average price is $131.13. The stock has a market capitalization of $28.48 billion, a P/E ratio of 18.54, a price-to-earnings-growth ratio of 2.34 and a beta of 0.44. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.59 and a current ratio of 0.87. DTE Energy Company has a 12 month low of $115.59 and a 12 month high of $140.39.

DTE Energy (NYSE:DTE - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.10 earnings per share for the quarter, beating analysts' consensus estimates of $1.98 by $0.12. DTE Energy had a return on equity of 13.00% and a net margin of 11.25%. The company had revenue of $3.37 billion for the quarter, compared to analysts' expectations of $3.33 billion. During the same quarter in the previous year, the company posted $1.67 earnings per share. Equities analysts predict that DTE Energy Company will post 7.18 earnings per share for the current year.

DTE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Monday, September 15th. DTE Energy's payout ratio is 58.92%.

Analysts Set New Price Targets

Several research analysts recently issued reports on DTE shares. Wall Street Zen downgraded DTE Energy from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Morgan Stanley reduced their price target on DTE Energy from $136.00 to $134.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. Barclays increased their price target on DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Evercore ISI increased their price target on DTE Energy from $136.00 to $145.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Finally, Wells Fargo & Company increased their target price on DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, DTE Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $141.53.

DTE Energy Company 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.