New York State Common Retirement Fund lifted its stake in DTE Energy Company (NYSE:DTE - Free Report) by 14.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 128,615 shares of the utilities provider's stock after purchasing an additional 16,500 shares during the period. New York State Common Retirement Fund owned about 0.06% of DTE Energy worth $17,784,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in DTE. Natixis Advisors LLC lifted its stake in DTE Energy by 2.4% in the fourth quarter. Natixis Advisors LLC now owns 101,431 shares of the utilities provider's stock worth $12,248,000 after acquiring an additional 2,409 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in DTE Energy by 4.1% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,853 shares of the utilities provider's stock worth $707,000 after acquiring an additional 233 shares during the period. Cibc World Markets Corp lifted its stake in DTE Energy by 16.4% in the fourth quarter. Cibc World Markets Corp now owns 32,688 shares of the utilities provider's stock worth $3,947,000 after acquiring an additional 4,594 shares during the period. Parallel Advisors LLC lifted its stake in DTE Energy by 21.1% in the fourth quarter. Parallel Advisors LLC now owns 2,674 shares of the utilities provider's stock worth $323,000 after acquiring an additional 466 shares during the period. Finally, Signaturefd LLC lifted its stake in DTE Energy by 10.8% in the fourth quarter. Signaturefd LLC now owns 3,200 shares of the utilities provider's stock worth $386,000 after acquiring an additional 311 shares during the period. 76.06% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of analysts recently weighed in on the stock. Citigroup reaffirmed a "buy" rating and issued a $151.00 price objective (up from $142.00) on shares of DTE Energy in a research note on Friday, May 23rd. BMO Capital Markets increased their price target on shares of DTE Energy from $135.00 to $142.00 and gave the company a "market perform" rating in a research report on Monday, April 21st. Barclays increased their price target on shares of DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a research report on Tuesday. Wall Street Zen lowered shares of DTE Energy from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Finally, Morgan Stanley decreased their price target on shares of DTE Energy from $136.00 to $134.00 and set an "overweight" rating for the company in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, DTE Energy has a consensus rating of "Moderate Buy" and an average target price of $141.53.
Check Out Our Latest Research Report on DTE Energy
DTE Energy Stock Performance
NYSE:DTE traded up $0.57 during midday trading on Thursday, hitting $134.80. The company's stock had a trading volume of 895,947 shares, compared to its average volume of 1,298,378. DTE Energy Company has a fifty-two week low of $115.48 and a fifty-two week high of $140.39. The firm's 50 day moving average is $133.94 and its 200-day moving average is $130.85. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.87 and a quick ratio of 0.59. The firm has a market cap of $27.97 billion, a P/E ratio of 18.22, a P/E/G ratio of 2.29 and a beta of 0.44.
DTE Energy (NYSE:DTE - Get Free Report) last issued 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 net margin of 11.25% and a return on equity of 13.00%. During the same quarter in the prior year, the company earned $1.67 EPS. Equities analysts anticipate that DTE Energy Company will post 7.18 earnings per share for the current fiscal year.
DTE Energy Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a dividend of $1.09 per share. The ex-dividend date is Monday, September 15th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.23%. DTE Energy's payout ratio is 58.92%.
About DTE Energy
(
Free Report)
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.
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