Tortoise Investment Management LLC Lowers Position in DTE Energy Co (NYSE:DTE)
Tortoise Investment Management LLC lessened its stake in DTE Energy Co (NYSE:DTE) by 17.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 795 shares of the utilities provider’s stock after selling 165 shares during the period. Tortoise Investment Management LLC’s holdings in DTE Energy were worth $103,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in DTE. BlackRock Inc. boosted its position in DTE Energy by 7.2% in the 2nd quarter. BlackRock Inc. now owns 15,596,423 shares of the utilities provider’s stock worth $1,994,469,000 after purchasing an additional 1,047,518 shares in the last quarter. Millennium Management LLC boosted its position in DTE Energy by 1,157.1% in the 3rd quarter. Millennium Management LLC now owns 697,832 shares of the utilities provider’s stock worth $92,783,000 after purchasing an additional 642,322 shares in the last quarter. Zimmer Partners LP purchased a new stake in DTE Energy in the 3rd quarter worth approximately $74,008,000. MERIAN GLOBAL INVESTORS UK Ltd boosted its position in DTE Energy by 1,339.3% in the 4th quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 533,474 shares of the utilities provider’s stock worth $17,914,000 after purchasing an additional 496,409 shares in the last quarter. Finally, State Street Corp boosted its position in DTE Energy by 2.9% in the 4th quarter. State Street Corp now owns 10,160,610 shares of the utilities provider’s stock worth $1,329,552,000 after purchasing an additional 287,268 shares in the last quarter. Institutional investors and hedge funds own 70.15% of the company’s stock.
NYSE DTE traded up $0.49 during mid-day trading on Friday, hitting $134.04. The stock had a trading volume of 895,959 shares, compared to its average volume of 1,067,061. The firm’s 50 day moving average is $131.58 and its 200 day moving average is $128.88. DTE Energy Co has a twelve month low of $118.80 and a twelve month high of $135.51. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.77 and a quick ratio of 0.58. The stock has a market capitalization of $25.66 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 3.35 and a beta of 0.22.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Monday, March 16th will be paid a $1.013 dividend. This represents a $4.05 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend is Friday, March 13th. DTE Energy’s dividend payout ratio is currently 64.29%.
Several research analysts have recently weighed in on DTE shares. Mizuho set a $134.00 target price on DTE Energy and gave the stock a “buy” rating in a research note on Monday, October 21st. Evercore ISI raised DTE Energy from an “in-line” rating to an “outperform” rating and set a $139.00 target price for the company in a research note on Monday, January 27th. Wells Fargo & Co set a $145.00 target price on DTE Energy and gave the stock a “buy” rating in a research note on Monday, October 21st. Credit Suisse Group upped their target price on DTE Energy from $133.00 to $140.00 and gave the stock a “neutral” rating in a research note on Thursday, February 6th. Finally, UBS Group raised DTE Energy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $141.00 to $143.00 in a research note on Monday, December 16th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $137.50.
DTE Energy Company Profile
DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.2 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.
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