State of New Jersey Common Pension Fund D Has $7.51 Million Stock Position in DTE Energy (NYSE:DTE)

State of New Jersey Common Pension Fund D reduced its stake in DTE Energy (NYSE:DTE) by 32.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,673 shares of the utilities provider’s stock after selling 32,399 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in DTE Energy were worth $7,512,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Capital Research Global Investors lifted its stake in shares of DTE Energy by 1.2% in the first quarter. Capital Research Global Investors now owns 21,194,653 shares of the utilities provider’s stock worth $2,376,768,000 after acquiring an additional 261,623 shares during the period. Clearbridge Investments LLC lifted its stake in DTE Energy by 224.7% in the first quarter. Clearbridge Investments LLC now owns 2,538,106 shares of the utilities provider’s stock valued at $284,623,000 after buying an additional 1,756,459 shares during the period. Janus Henderson Group PLC lifted its stake in DTE Energy by 6,964.9% in the first quarter. Janus Henderson Group PLC now owns 2,090,350 shares of the utilities provider’s stock valued at $234,410,000 after buying an additional 2,060,762 shares during the period. First Trust Advisors LP lifted its stake in DTE Energy by 2.2% in the fourth quarter. First Trust Advisors LP now owns 781,181 shares of the utilities provider’s stock valued at $86,133,000 after buying an additional 16,712 shares during the period. Finally, Westwood Holdings Group Inc. lifted its stake in DTE Energy by 2.6% in the first quarter. Westwood Holdings Group Inc. now owns 728,032 shares of the utilities provider’s stock valued at $81,642,000 after buying an additional 18,514 shares during the period. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Trading Up 1.2 %

Shares of DTE Energy stock opened at $125.95 on Friday. The company has a market capitalization of $26.06 billion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 2.28 and a beta of 0.67. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. The stock has a fifty day simple moving average of $120.40 and a 200 day simple moving average of $114.45. DTE Energy has a 12-month low of $90.14 and a 12-month high of $127.59.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.22. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.65 billion. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. During the same quarter in the prior year, the company earned $0.99 EPS. On average, sell-side analysts anticipate that DTE Energy will post 6.7 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $4.08 annualized dividend and a dividend yield of 3.24%. DTE Energy’s payout ratio is 66.78%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DTE. LADENBURG THALM/SH SH began coverage on DTE Energy in a research report on Wednesday, August 14th. They set a “buy” rating and a $131.00 target price on the stock. Morgan Stanley upped their target price on DTE Energy from $114.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Wells Fargo & Company upped their target price on DTE Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, August 11th. Finally, BMO Capital Markets upped their target price on DTE Energy from $126.00 to $135.00 and gave the stock a “market perform” rating in a research report on Friday, September 6th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $127.17.

DTE Energy 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.