Fmr LLC Has $43.99 Million Position in DTE Energy (NYSE:DTE)

Fmr LLC grew its position in shares of DTE Energy (NYSE:DTE) by 6.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 342,608 shares of the utilities provider’s stock after purchasing an additional 19,678 shares during the quarter. Fmr LLC owned approximately 0.17% of DTE Energy worth $43,994,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Ridgewood Investments LLC bought a new position in shares of DTE Energy during the second quarter worth about $31,000. Ashton Thomas Securities LLC bought a new position in DTE Energy during the 3rd quarter worth approximately $35,000. Prospera Private Wealth LLC acquired a new position in shares of DTE Energy in the 3rd quarter worth approximately $35,000. Coastline Trust Co bought a new stake in shares of DTE Energy in the 3rd quarter valued at $39,000. Finally, Fairscale Capital LLC acquired a new stake in shares of DTE Energy during the second quarter worth $54,000. 76.06% of the stock is currently owned by institutional investors.

DTE Energy Stock Performance

Shares of DTE Energy stock opened at $121.57 on Friday. The business’s fifty day simple moving average is $124.38 and its 200 day simple moving average is $120.24. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 1.76. DTE Energy has a 12 month low of $102.17 and a 12 month high of $131.66. The firm has a market capitalization of $25.18 billion, a P/E ratio of 16.47, a price-to-earnings-growth ratio of 2.25 and a beta of 0.68.

DTE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be paid a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.59%. This is a boost from DTE Energy’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Monday, December 16th. DTE Energy’s payout ratio is presently 55.28%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on DTE shares. Morgan Stanley dropped their price objective on DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Scotiabank boosted their price objective on DTE Energy from $120.00 to $137.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. 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 price objective on the stock. Barclays upped their target price on shares of DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $133.54.

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.