Smith Group Asset Management LLC Takes $362,000 Position in DTE Energy (NYSE:DTE)

Smith Group Asset Management LLC purchased a new position in DTE Energy (NYSE:DTE) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 3,000 shares of the utilities provider’s stock, valued at approximately $362,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. grew its stake in DTE Energy by 66.6% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 18,072 shares of the utilities provider’s stock worth $2,182,000 after buying an additional 7,225 shares during the last quarter. Perigon Wealth Management LLC boosted its holdings in shares of DTE Energy by 15.1% during the fourth quarter. Perigon Wealth Management LLC now owns 10,912 shares of the utilities provider’s stock valued at $1,342,000 after acquiring an additional 1,429 shares during the period. Pacer Advisors Inc. grew its position in shares of DTE Energy by 100.0% during the fourth quarter. Pacer Advisors Inc. now owns 30,822 shares of the utilities provider’s stock worth $3,722,000 after acquiring an additional 15,412 shares during the last quarter. KBC Group NV increased its holdings in shares of DTE Energy by 20.6% in the 4th quarter. KBC Group NV now owns 19,426 shares of the utilities provider’s stock worth $2,346,000 after acquiring an additional 3,320 shares during the period. Finally, Capital Asset Advisory Services LLC lifted its position in DTE Energy by 14.5% in the 4th quarter. Capital Asset Advisory Services LLC now owns 4,212 shares of the utilities provider’s stock valued at $512,000 after purchasing an additional 532 shares during the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Trading Down 0.7 %

DTE Energy stock opened at $117.82 on Thursday. The firm has a market cap of $24.40 billion, a price-to-earnings ratio of 15.96, a price-to-earnings-growth ratio of 2.07 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’s 50 day moving average price is $121.56 and its two-hundred day moving average price is $122.58. 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 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 given a dividend of $1.09 per share. The ex-dividend date was Monday, December 16th. This is a positive change 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 3.70%. DTE Energy’s payout ratio is 59.08%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Morgan Stanley dropped 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 note on Friday, November 22nd. Guggenheim raised DTE Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Wells Fargo & Company increased their price target on DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Scotiabank lifted 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 note on Thursday, December 12th. Finally, KeyCorp lowered shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $136.25.

DTE Energy Company 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.