Great Lakes Retirement Inc. Sells 123 Shares of DTE Energy (NYSE:DTE)

Great Lakes Retirement Inc. reduced its holdings in shares of DTE Energy (NYSE:DTE) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,944 shares of the utilities provider’s stock after selling 123 shares during the period. Great Lakes Retirement Inc.’s holdings in DTE Energy were worth $1,080,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in shares of DTE Energy during the third quarter valued at approximately $30,000. Ashton Thomas Securities LLC purchased a new stake in shares of DTE Energy during the third quarter valued at approximately $35,000. Prospera Private Wealth LLC purchased a new stake in shares of DTE Energy during the third quarter valued at approximately $35,000. Versant Capital Management Inc boosted its stake in shares of DTE Energy by 890.0% during the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 267 shares during the period. Finally, Coastline Trust Co purchased a new stake in shares of DTE Energy during the third quarter valued at approximately $39,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Performance

Shares of DTE Energy stock opened at $124.03 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 1.76. The firm has a market capitalization of $25.69 billion, a P/E ratio of 16.81, a P/E/G ratio of 2.25 and a beta of 0.68. The business has a fifty day simple moving average of $120.94 and a two-hundred day simple moving average of $122.93. DTE Energy has a 12 month low of $103.06 and a 12 month high of $131.66.

DTE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be given a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 3.52%. The ex-dividend date is Monday, March 17th. DTE Energy’s dividend payout ratio is currently 59.08%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on DTE shares. UBS Group raised DTE Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Wells Fargo & Company increased their price objective on DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Morgan Stanley dropped their price target on DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Guggenheim raised DTE Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group began coverage on DTE Energy in a research note on Monday, October 21st. They issued a “hold” rating and a $137.00 price target for the company. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $136.25.

About DTE Energy

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.