Second Line Capital LLC Takes $203,000 Position in DTE Energy (NYSE:DTE)

Second Line Capital LLC acquired a new position in DTE Energy (NYSE:DTE) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,567 shares of the utilities provider’s stock, valued at approximately $203,000.

Several other institutional investors have also recently added to or reduced their stakes in DTE. Legacy Investment Solutions LLC purchased a new position in shares of DTE Energy during the third quarter worth $30,000. Ridgewood Investments LLC purchased a new position in DTE Energy during the 2nd quarter valued at about $31,000. Ashton Thomas Securities LLC acquired a new position in DTE Energy in the 3rd quarter valued at about $35,000. Prospera Private Wealth LLC acquired a new position in DTE Energy in the 3rd quarter valued at about $35,000. Finally, Coastline Trust Co purchased a new stake in DTE Energy during the third quarter worth about $39,000. Institutional investors and hedge funds own 76.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on DTE shares. KeyCorp lowered shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Barclays lifted their target price on DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a report on Monday, October 7th. BMO Capital Markets increased their price target on DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Jefferies Financial Group began coverage on DTE Energy in a research report on Monday, October 21st. They set a “hold” rating and a $137.00 price objective for the company. Finally, StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $133.54.

DTE Energy Price Performance

Shares of NYSE:DTE opened at $121.99 on Wednesday. DTE Energy has a 12 month low of $102.17 and a 12 month high of $131.66. The firm has a market capitalization of $25.26 billion, a P/E ratio of 16.53, a P/E/G ratio of 2.24 and a beta of 0.68. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62. The company’s fifty day moving average price is $124.25 and its 200 day moving average price is $120.34.

DTE Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be given a $1.09 dividend. The ex-dividend date of this dividend is Monday, December 16th. This is a boost from DTE Energy’s previous quarterly dividend of $1.02. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.57%. DTE Energy’s dividend payout ratio is 59.08%.

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.