Everence Capital Management Inc. Trims Stock Position in DTE Energy (NYSE:DTE)

Everence Capital Management Inc. trimmed its holdings in DTE Energy (NYSE:DTE) by 41.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,300 shares of the utilities provider’s stock after selling 3,070 shares during the quarter. Everence Capital Management Inc.’s holdings in DTE Energy were worth $519,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its stake in shares of DTE Energy by 2.3% in the third quarter. Farther Finance Advisors LLC now owns 3,588 shares of the utilities provider’s stock worth $461,000 after buying an additional 81 shares during the last quarter. Signaturefd LLC lifted its holdings in DTE Energy by 3.1% in the third quarter. Signaturefd LLC now owns 2,889 shares of the utilities provider’s stock valued at $371,000 after acquiring an additional 86 shares during the period. Tidal Investments LLC boosted its position in DTE Energy by 4.0% in the 3rd quarter. Tidal Investments LLC now owns 2,490 shares of the utilities provider’s stock worth $320,000 after purchasing an additional 96 shares in the last quarter. ASB Consultores LLC grew its stake in shares of DTE Energy by 4.9% during the 2nd quarter. ASB Consultores LLC now owns 2,179 shares of the utilities provider’s stock worth $242,000 after purchasing an additional 101 shares during the period. Finally, Centennial Wealth Advisory LLC increased its holdings in shares of DTE Energy by 2.1% during the 3rd quarter. Centennial Wealth Advisory LLC now owns 5,338 shares of the utilities provider’s stock valued at $685,000 after purchasing an additional 110 shares in the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Price Performance

Shares of NYSE DTE opened at $121.58 on Monday. The stock has a market capitalization of $25.18 billion, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 2.23 and a beta of 0.68. DTE Energy has a 52 week low of $102.17 and a 52 week high of $131.66. The firm has a 50-day simple moving average of $121.75 and a 200-day simple moving average of $121.36. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.76.

DTE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be paid a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a yield of 3.59%. This is a positive change from DTE Energy’s previous quarterly dividend of $1.02. The ex-dividend date is Monday, December 16th. DTE Energy’s dividend payout ratio (DPR) is 59.08%.

Analysts Set New Price Targets

DTE has been the topic of a number of recent analyst reports. Jefferies Financial Group initiated coverage on shares of DTE Energy in a research report on Monday, October 21st. They set a “hold” rating and a $137.00 price target on the stock. Barclays raised their target price on DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Wells Fargo & Company upped their price target on DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, Scotiabank upped their target price on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research note on Thursday, December 12th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $134.31.

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.