Secure Asset Management LLC Raises Stake in DTE Energy (NYSE:DTE)

Secure Asset Management LLC boosted its stake in shares of DTE Energy (NYSE:DTE) by 3.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,824 shares of the utilities provider’s stock after buying an additional 132 shares during the quarter. Secure Asset Management LLC’s holdings in DTE Energy were worth $462,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Mizuho Securities USA LLC grew its position 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 valued at $903,878,000 after acquiring an additional 7,023,042 shares during the period. State Street Corp lifted its stake in DTE Energy by 7.0% in the third quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock valued at $1,319,264,000 after purchasing an additional 662,569 shares during the last quarter. Zimmer Partners LP bought a new position in DTE Energy during the third quarter valued at $69,894,000. Point72 Asset Management L.P. purchased a new stake in DTE Energy in the third quarter worth $66,733,000. Finally, Nordea Investment Management AB raised its stake in shares of DTE Energy by 2,235.2% in the fourth 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. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Down 0.4 %

Shares of NYSE DTE opened at $119.07 on Friday. The firm has a fifty day simple moving average of $121.61 and a two-hundred day simple moving average of $122.23. DTE Energy has a 12 month low of $102.50 and a 12 month high of $131.66. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 1.76. The firm has a market capitalization of $24.66 billion, a PE ratio of 16.13, a price-to-earnings-growth ratio of 2.07 and a beta of 0.68.

DTE Energy Increases Dividend

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

Analyst Ratings Changes

DTE has been the subject of several research reports. UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $129.00 to $143.00 in a research note on Tuesday, December 3rd. KeyCorp downgraded shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Morgan Stanley lowered their price target on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Wells Fargo & Company raised their price objective 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, StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Friday. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.