State of Alaska Department of Revenue Cuts Position in DTE Energy (NYSE:DTE)

State of Alaska Department of Revenue lowered its position in shares of DTE Energy (NYSE:DTE) by 23.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 23,617 shares of the utilities provider’s stock after selling 7,050 shares during the quarter. State of Alaska Department of Revenue’s holdings in DTE Energy were worth $2,851,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DTE. Mizuho Securities USA LLC boosted its position in 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 lifted its stake in shares of 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 purchasing an additional 662,569 shares in the last quarter. Zimmer Partners LP purchased a new stake in shares of DTE Energy in the third quarter worth about $69,894,000. Point72 Asset Management L.P. acquired a new stake in shares of DTE Energy in the third quarter valued at about $66,733,000. Finally, Nordea Investment Management AB raised its holdings in shares of DTE Energy by 2,235.2% during the 4th quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider’s stock valued at $26,706,000 after buying an additional 211,763 shares during the period. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Stock Up 0.1 %

DTE stock opened at $122.68 on Monday. The firm has a market cap of $25.41 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 2.25 and a beta of 0.68. DTE Energy has a 1-year low of $102.78 and a 1-year high of $131.66. The firm has a fifty day moving average price of $120.91 and a two-hundred day moving average price of $122.81. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62.

DTE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid a dividend of $1.09 per share. The ex-dividend date is Monday, March 17th. This represents a $4.36 annualized dividend and a yield of 3.55%. DTE Energy’s dividend payout ratio (DPR) is 59.08%.

Analysts Set New Price Targets

DTE has been the subject of several recent research reports. Wells Fargo & Company increased their price objective on shares of DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. KeyCorp lowered shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Scotiabank upped their price objective on shares of DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research report on Thursday, December 12th. Morgan Stanley dropped their target price on DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Finally, Jefferies Financial Group initiated coverage on DTE Energy in a research note on Monday, October 21st. They set a “hold” rating and a $137.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.