Gabelli Funds LLC Reduces Position in DTE Energy Co (DTE)

Gabelli Funds LLC reduced its holdings in DTE Energy Co (NYSE:DTE) by 2.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,500 shares of the utilities provider’s stock after selling 500 shares during the quarter. Gabelli Funds LLC’s holdings in DTE Energy were worth $2,244,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Monroe Bank & Trust MI raised its holdings in shares of DTE Energy by 11.7% in the 3rd quarter. Monroe Bank & Trust MI now owns 4,306 shares of the utilities provider’s stock worth $424,000 after purchasing an additional 451 shares in the last quarter. V Wealth Management LLC raised its holdings in shares of DTE Energy by 22.7% in the 4th quarter. V Wealth Management LLC now owns 2,850 shares of the utilities provider’s stock worth $309,000 after purchasing an additional 528 shares in the last quarter. Sii Investments Inc. WI raised its holdings in shares of DTE Energy by 11.6% in the 3rd quarter. Sii Investments Inc. WI now owns 5,713 shares of the utilities provider’s stock worth $614,000 after purchasing an additional 593 shares in the last quarter. E&G Advisors LP raised its holdings in shares of DTE Energy by 29.3% in the 4th quarter. E&G Advisors LP now owns 2,650 shares of the utilities provider’s stock worth $290,000 after purchasing an additional 600 shares in the last quarter. Finally, Montecito Bank & Trust raised its holdings in shares of DTE Energy by 27.5% in the 3rd quarter. Montecito Bank & Trust now owns 2,934 shares of the utilities provider’s stock worth $315,000 after purchasing an additional 633 shares in the last quarter. Institutional investors and hedge funds own 68.94% of the company’s stock.

DTE has been the topic of a number of research reports. Guggenheim reiterated a “buy” rating and issued a $121.00 target price on shares of DTE Energy in a report on Wednesday, January 3rd. KeyCorp restated a “buy” rating and set a $118.50 price target on shares of DTE Energy in a report on Friday, December 15th. Zacks Investment Research upgraded shares of DTE Energy from a “hold” rating to a “buy” rating and set a $116.00 price target on the stock in a report on Monday, January 15th. UBS Group began coverage on shares of DTE Energy in a report on Friday, February 2nd. They set a “neutral” rating and a $108.00 price target on the stock. Finally, Credit Suisse Group cut their price target on shares of DTE Energy from $113.00 to $112.00 and set a “neutral” rating on the stock in a report on Thursday, October 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. DTE Energy presently has an average rating of “Hold” and an average price target of $113.75.

Shares of DTE Energy Co (NYSE:DTE) opened at $102.21 on Wednesday. DTE Energy Co has a 1-year low of $97.15 and a 1-year high of $116.74. 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 $18,163.27, a P/E ratio of 19.66, a PEG ratio of 2.92 and a beta of 0.15.

The company also recently declared a quarterly dividend, which will be paid on Sunday, April 15th. Stockholders of record on Monday, March 19th will be issued a dividend of $0.8825 per share. The ex-dividend date of this dividend is Friday, March 16th. This represents a $3.53 dividend on an annualized basis and a dividend yield of 3.45%. DTE Energy’s dividend payout ratio is currently 64.65%.

In other news, Chairman Gerard M. Anderson sold 12,389 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $112.93, for a total transaction of $1,399,089.77. Following the sale, the chairman now owns 83,000 shares in the company, valued at $9,373,190. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.

Institutional Ownership by Quarter for DTE Energy (NYSE:DTE)

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