Other institutional investors have also made changes to their positions in the company. Lazard Asset Management LLC boosted its holdings in shares of DTE Energy by 70.7% during the second quarter. Lazard Asset Management LLC now owns 210 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 87 shares during the period. Western Pacific Wealth Management LP acquired a new stake in DTE Energy in the third quarter valued at approximately $42,000. Sargent Bickham Lagudis LLC acquired a new stake in DTE Energy in the third quarter valued at approximately $44,000. Clear Street Markets LLC lifted its stake in DTE Energy by 408.9% in the second quarter. Clear Street Markets LLC now owns 402 shares of the utilities provider’s stock valued at $51,000 after acquiring an additional 323 shares during the last quarter. Finally, Mach 1 Financial Group LLC acquired a new stake in DTE Energy in the third quarter valued at approximately $56,000. 74.55% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on DTE shares. TheStreet upgraded shares of DTE Energy from a “c+” rating to a “b-” rating in a research note on Friday, January 13th. Morgan Stanley reduced their target price on shares of DTE Energy from $131.00 to $130.00 and set an “overweight” rating for the company in a research note on Monday, January 30th. Guggenheim reduced their target price on shares of DTE Energy from $145.00 to $122.00 in a research note on Monday, October 24th. BMO Capital Markets lifted their target price on shares of DTE Energy from $117.00 to $125.00 and gave the company a “market perform” rating in a research note on Tuesday, November 22nd. Finally, Citigroup reduced their target price on shares of DTE Energy from $146.00 to $139.00 in a research note on Friday, October 28th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $129.92.
DTE Energy Price Performance
Shares of DTE Energy stock opened at $114.04 on Tuesday. The firm has a fifty day simple moving average of $116.48 and a 200-day simple moving average of $119.60. The company has a current ratio of 0.79, a quick ratio of 0.60 and a debt-to-equity ratio of 1.94. DTE Energy has a 1-year low of $100.64 and a 1-year high of $140.23. The stock has a market capitalization of $22.09 billion, a price-to-earnings ratio of 19.73, a PEG ratio of 3.04 and a beta of 0.58.
DTE Energy Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Saturday, April 15th. Investors of record on Monday, March 20th will be given a dividend of $0.9525 per share. The ex-dividend date of this dividend is Friday, March 17th. This represents a $3.81 dividend on an annualized basis and a yield of 3.34%. This is a positive change from DTE Energy’s previous quarterly dividend of $0.95. DTE Energy’s payout ratio is 65.92%.
DTE Energy Company Profile
DTE Energy Co operates as a diversified energy company, which engages in the development and management of energy-related businesses and services. It operates through the following segments: Electric, Gas, DTE Vantage, Energy Trading, and Corporate and Other. The Electric segment consists of generation, purchase, distribution, and sale of electricity to residential, commercial, and industrial customers in southeastern Michigan.
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