State of Alaska Department of Revenue lifted its holdings in shares of DTE Energy Co (NYSE:DTE) by 44.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,539 shares of the utilities provider’s stock after purchasing an additional 11,160 shares during the period. State of Alaska Department of Revenue’s holdings in DTE Energy were worth $3,998,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Spectrum Management Group Inc. bought a new stake in shares of DTE Energy during the 3rd quarter worth $111,000. Sun Life Financial INC raised its stake in shares of DTE Energy by 13,030.0% during the 2nd quarter. Sun Life Financial INC now owns 1,313 shares of the utilities provider’s stock worth $139,000 after purchasing an additional 1,303 shares during the period. D.A. Davidson & CO. raised its stake in shares of DTE Energy by 36.1% during the 2nd quarter. D.A. Davidson & CO. now owns 1,497 shares of the utilities provider’s stock worth $158,000 after purchasing an additional 397 shares during the period. Pinebridge Investments L.P. bought a new stake in shares of DTE Energy during the 2nd quarter worth $161,000. Finally, Pinnacle Advisory Group Inc. bought a new stake in shares of DTE Energy during the 3rd quarter worth $200,000. Institutional investors own 68.94% of the company’s stock.
Shares of DTE Energy Co (NYSE DTE) traded down $0.97 on Wednesday, reaching $101.23. The company had a trading volume of 950,154 shares, compared to its average volume of 1,470,000. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 1.20. The stock has a market cap of $18,160.00, a price-to-earnings ratio of 18.51, a P/E/G ratio of 2.92 and a beta of 0.14. DTE Energy Co has a 52 week low of $97.15 and a 52 week high of $116.74.
The business also recently announced a quarterly dividend, which will be paid on Sunday, April 15th. Shareholders of record on Monday, March 19th will be issued a dividend of $0.8825 per share. This represents a $3.53 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend is Friday, March 16th. DTE Energy’s payout ratio is presently 64.53%.
DTE has been the topic of a number of recent analyst reports. Wells Fargo & Co upgraded DTE Energy from a “market perform” rating to an “outperform” rating in a research note on Friday, January 12th. UBS Group assumed coverage on DTE Energy in a report on Friday, February 2nd. They issued a “neutral” rating and a $108.00 price objective for the company. KeyCorp reissued a “buy” rating and issued a $118.50 price objective on shares of DTE Energy in a report on Friday, December 15th. Credit Suisse Group decreased their price objective on DTE Energy from $113.00 to $112.00 and set a “neutral” rating for the company in a report on Thursday, October 26th. Finally, Bank of America assumed coverage on DTE Energy in a report on Tuesday, October 24th. They issued an “underperform” rating and a $112.00 price objective for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $113.75.
In other DTE Energy news, Chairman Gerard M. Anderson sold 12,389 shares of DTE Energy stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $112.93, for a total transaction of $1,399,089.77. Following the completion of the transaction, the chairman now owns 83,000 shares of the company’s stock, valued at approximately $9,373,190. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is owned by insiders.
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DTE Energy Company Profile
DTE Energy Company is an energy company. Its segments include Electric, which consists of DTE Electric Company, which is engaged in the generation, purchase, distribution and sale of electricity to residential, commercial and industrial customers in southeastern Michigan; Gas, which consists of DTE Gas Company, which is engaged in the purchase, storage, transportation, distribution and sale of natural gas to residential, commercial and industrial customers throughout Michigan; Gas Storage and Pipelines, which consists of natural gas pipeline, gathering and storage businesses; Power and Industrial Projects, which consists of projects that deliver energy and utility-type products and services to industrial, commercial and institutional customers, and sell electricity from renewable energy projects; Energy Trading, which consists of energy marketing and trading operations, and Corporate and Other, which includes various holding company activities and holds certain non-utility debt.
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