Forsta AP Fonden Buys 1,700 Shares of DTE Energy (NYSE:DTE)

Forsta AP Fonden boosted its position in DTE Energy (NYSE:DTE) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 61,000 shares of the utilities provider’s stock after purchasing an additional 1,700 shares during the quarter. Forsta AP Fonden’s holdings in DTE Energy were worth $7,366,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of DTE. Mizuho Securities USA LLC raised its stake 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 worth $903,878,000 after acquiring an additional 7,023,042 shares in the last quarter. State Street Corp increased its position 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 during the 3rd quarter valued at $69,894,000. Point72 Asset Management L.P. acquired a new stake in shares of DTE Energy in the 3rd quarter worth $66,733,000. Finally, Nordea Investment Management AB grew its stake in 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 worth $26,706,000 after buying an additional 211,763 shares during the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Stock Performance

Shares of DTE stock opened at $119.30 on Friday. DTE Energy has a 52-week low of $102.78 and a 52-week high of $131.66. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.76. The stock has a market cap of $24.71 billion, a PE ratio of 16.16, a price-to-earnings-growth ratio of 2.07 and a beta of 0.68. The business has a 50-day simple moving average of $121.47 and a 200-day simple moving average of $122.54.

DTE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th were paid a dividend of $1.09 per share. This is a boost from DTE Energy’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Monday, December 16th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.65%. DTE Energy’s dividend payout ratio (DPR) is presently 59.08%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Barclays raised their price target on DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Jefferies Financial Group began coverage on shares of DTE Energy in a research note on Monday, October 21st. They issued a “hold” rating and a $137.00 target price for the company. Morgan Stanley cut 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. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 24th. Finally, BMO Capital Markets upped their target price 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. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.25.

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.