DTE Energy (NYSE:DTE) Stock Holdings Increased by Hennessy Advisors Inc.

Hennessy Advisors Inc. raised its holdings in shares of DTE Energy (NYSE:DTE) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 53,304 shares of the utilities provider’s stock after buying an additional 1,400 shares during the period. Hennessy Advisors Inc.’s holdings in DTE Energy were worth $6,436,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in DTE. Legacy Investment Solutions LLC acquired a new stake in shares of DTE Energy during the 3rd quarter valued at $30,000. Ashton Thomas Securities LLC acquired a new stake in shares of DTE Energy during the third quarter worth $35,000. Prospera Private Wealth LLC purchased a new stake in shares of DTE Energy during the third quarter valued at $35,000. Versant Capital Management Inc boosted its position in shares of DTE Energy by 890.0% in the 4th 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 position in DTE Energy in the 3rd quarter worth about $39,000. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Stock Up 0.6 %

DTE opened at $123.69 on Friday. DTE Energy has a twelve month low of $102.17 and a twelve month high of $131.66. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.62 and a current ratio of 0.83. The business has a 50 day moving average price of $121.31 and a 200 day moving average price of $121.78. The firm has a market cap of $25.62 billion, a P/E ratio of 16.76, a price-to-earnings-growth ratio of 2.05 and a beta of 0.68.

DTE Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 16th were paid a $1.09 dividend. The ex-dividend date was Monday, December 16th. This is a positive change from DTE Energy’s previous quarterly dividend of $1.02. This represents a $4.36 dividend on an annualized basis and a yield of 3.53%. DTE Energy’s dividend payout ratio (DPR) is presently 59.08%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Jefferies Financial Group started coverage on shares of DTE Energy in a research note on Monday, October 21st. They set a “hold” rating and a $137.00 price objective for the company. UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Barclays boosted their target price on shares of DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. KeyCorp lowered DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Finally, BMO Capital Markets upped their target price on DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $134.31.

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.