DTE Energy (NYSE:DTE) Shares Purchased by Patton Albertson Miller Group LLC

Patton Albertson Miller Group LLC boosted its holdings in shares of DTE Energy (NYSE:DTE) by 7.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 46,931 shares of the utilities provider’s stock after buying an additional 3,306 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in DTE Energy were worth $5,667,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Mizuho Securities USA LLC grew its holdings in shares of DTE Energy by 44,009.5% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock worth $903,878,000 after purchasing an additional 7,023,042 shares during the period. State Street Corp boosted its stake in DTE Energy by 7.0% during the third quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock worth $1,319,264,000 after buying an additional 662,569 shares during the period. Zimmer Partners LP acquired a new stake in shares of DTE Energy during the third quarter valued at about $69,894,000. Point72 Asset Management L.P. purchased a new stake in shares of DTE Energy in the 3rd quarter valued at approximately $66,733,000. Finally, Nordea Investment Management AB lifted its holdings in shares of DTE Energy by 2,235.2% in the 4th quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider’s stock worth $26,706,000 after acquiring an additional 211,763 shares during the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Price Performance

DTE stock opened at $119.07 on Friday. The stock has a market cap of $24.66 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 2.07 and a beta of 0.68. DTE Energy has a fifty-two week low of $102.50 and a fifty-two week high of $131.66. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.76. The business has a 50 day moving average price of $121.59 and a 200 day moving average price of $122.30.

DTE Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th were issued a $1.09 dividend. This is a boost from DTE Energy’s previous quarterly dividend of $1.02. The ex-dividend date was Monday, December 16th. This represents a $4.36 annualized dividend and a dividend yield of 3.66%. DTE Energy’s dividend payout ratio is presently 59.08%.

Analyst Ratings Changes

Several research firms have recently commented on DTE. BMO Capital Markets raised their price target on DTE Energy from $135.00 to $140.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Jefferies Financial Group began coverage on shares of DTE Energy in a research note on Monday, October 21st. They set a “hold” rating and a $137.00 price target on the stock. Barclays raised their price objective 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 cut shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Finally, UBS Group raised DTE Energy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $129.00 to $143.00 in a research report on Tuesday, December 3rd. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $136.25.

DTE Energy 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.