Franklin Resources Inc. Has $256.94 Million Stake in DTE Energy (NYSE:DTE)

Franklin Resources Inc. lessened its stake in shares of DTE Energy (NYSE:DTE) by 7.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,046,010 shares of the utilities provider’s stock after selling 161,786 shares during the period. Franklin Resources Inc. owned 0.99% of DTE Energy worth $256,938,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DTE. Wealth Enhancement Advisory Services LLC raised its stake in DTE Energy by 23.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 17,263 shares of the utilities provider’s stock valued at $1,916,000 after purchasing an additional 3,273 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in shares of DTE Energy by 4.6% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,014 shares of the utilities provider’s stock valued at $557,000 after buying an additional 222 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of DTE Energy by 9.7% during the 2nd quarter. Blue Trust Inc. now owns 1,995 shares of the utilities provider’s stock worth $224,000 after acquiring an additional 176 shares during the period. Gradient Investments LLC lifted its holdings in shares of DTE Energy by 91.0% during the 2nd quarter. Gradient Investments LLC now owns 1,333 shares of the utilities provider’s stock worth $148,000 after acquiring an additional 635 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in shares of DTE Energy by 0.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 52,790 shares of the utilities provider’s stock worth $5,915,000 after acquiring an additional 205 shares in the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Price Performance

Shares of NYSE:DTE opened at $121.28 on Friday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.62 and a current ratio of 0.83. DTE Energy has a 52 week low of $102.17 and a 52 week high of $131.66. The firm has a market cap of $25.12 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 2.23 and a beta of 0.68. The firm’s fifty day moving average is $123.71 and its 200-day moving average is $120.52.

DTE Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be given a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Monday, December 16th. This is a positive change from DTE Energy’s previous quarterly dividend of $1.02. DTE Energy’s payout ratio is 59.08%.

Wall Street Analysts Forecast Growth

DTE has been the subject of several research analyst reports. Morgan Stanley lowered their price objective on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Bank of America upped their price objective on DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $129.00 to $143.00 in a research report on Tuesday, December 3rd. Wells Fargo & Company increased their target price on shares of DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, Barclays lifted their price target on shares of DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, DTE Energy has an average rating of “Moderate Buy” and a consensus target price of $134.31.

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.