Point72 DIFC Ltd Invests $650,000 in DTE Energy (NYSE:DTE)

Point72 DIFC Ltd bought a new position in shares of DTE Energy (NYSE:DTE) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,061 shares of the utilities provider’s stock, valued at approximately $650,000.

Other hedge funds have also added to or reduced their stakes in the company. Cetera Advisors LLC bought a new position in DTE Energy during the 1st quarter worth $708,000. Cetera Investment Advisers grew its stake in shares of DTE Energy by 242.0% in the first quarter. Cetera Investment Advisers now owns 29,306 shares of the utilities provider’s stock valued at $3,286,000 after acquiring an additional 20,737 shares in the last quarter. Bank of Montreal Can grew its stake in shares of DTE Energy by 19.0% in the second quarter. Bank of Montreal Can now owns 269,031 shares of the utilities provider’s stock valued at $30,220,000 after acquiring an additional 42,960 shares in the last quarter. Hancock Whitney Corp increased its position in DTE Energy by 80.0% during the third quarter. Hancock Whitney Corp now owns 12,885 shares of the utilities provider’s stock worth $1,655,000 after acquiring an additional 5,725 shares during the period. Finally, Blueshift Asset Management LLC acquired a new stake in DTE Energy in the 3rd quarter worth about $583,000. 76.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on DTE shares. Scotiabank raised their target price on shares of DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. Jefferies Financial Group began coverage on DTE Energy in a report on Monday, October 21st. They issued a “hold” rating and a $137.00 price objective for the company. Barclays increased their target price on DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday. 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, DTE Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.54.

DTE Energy Stock Up 0.1 %

DTE stock opened at $122.40 on Friday. The firm has a 50-day moving average price of $124.50 and a 200-day moving average price of $120.18. DTE Energy has a 12 month low of $102.17 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 stock has a market capitalization of $25.35 billion, a P/E ratio of 16.59, a price-to-earnings-growth ratio of 2.27 and a beta of 0.68.

DTE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be paid a $1.09 dividend. This is an increase from DTE Energy’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Monday, December 16th. This represents a $4.36 annualized dividend and a yield of 3.56%. DTE Energy’s dividend payout ratio is presently 55.28%.

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.