Louisiana State Employees Retirement System Trims Stake in DTE Energy (NYSE:DTE)

Louisiana State Employees Retirement System trimmed its holdings in DTE Energy (NYSE:DTE) by 5.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,100 shares of the utilities provider’s stock after selling 600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in DTE Energy were worth $1,340,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in DTE Energy in the third quarter worth $30,000. Ashton Thomas Securities LLC purchased a new position in shares of DTE Energy in the third quarter worth $35,000. Prospera Private Wealth LLC purchased a new position in DTE Energy during the 3rd quarter worth approximately $35,000. Versant Capital Management Inc raised its position in DTE Energy by 890.0% during the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 267 shares in the last quarter. Finally, Coastline Trust Co purchased a new position in shares of DTE Energy in the 3rd quarter valued at about $39,000. 76.06% of the stock is owned by institutional investors.

DTE Energy Trading Up 1.1 %

Shares of NYSE DTE opened at $129.21 on Monday. The firm has a market capitalization of $26.76 billion, a PE ratio of 17.51, a PEG ratio of 2.25 and a beta of 0.68. 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 one year low of $103.06 and a one year high of $131.66. The business has a 50-day moving average price of $121.24 and a two-hundred day moving average price of $123.06.

DTE Energy (NYSE:DTE) last posted its earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.01. DTE Energy had a return on equity of 13.42% and a net margin of 12.33%. As a group, analysts predict that DTE Energy will post 6.77 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be given a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s dividend payout ratio (DPR) is 59.08%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Jefferies Financial Group initiated coverage on shares of DTE Energy in a report on Monday, October 21st. They issued a “hold” rating and a $137.00 price objective for the company. KeyCorp downgraded shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Guggenheim upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. UBS Group upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Finally, Morgan Stanley dropped their price target on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $136.25.

DTE Energy Company 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.