Assenagon Asset Management S.A. Sells 472 Shares of DTE Energy (NYSE:DTE)

Assenagon Asset Management S.A. reduced its stake in shares of DTE Energy (NYSE:DTE) by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,078 shares of the utilities provider’s stock after selling 472 shares during the quarter. Assenagon Asset Management S.A.’s holdings in DTE Energy were worth $734,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Signal Advisors Wealth LLC lifted its stake in shares of DTE Energy by 31.6% in the fourth quarter. Signal Advisors Wealth LLC now owns 3,405 shares of the utilities provider’s stock valued at $419,000 after buying an additional 818 shares during the period. AdvisorNet Financial Inc grew its holdings in shares of DTE Energy by 81.5% during the 4th quarter. AdvisorNet Financial Inc now owns 697 shares of the utilities provider’s stock worth $84,000 after purchasing an additional 313 shares in the last quarter. Peddock Capital Advisors LLC increased its position in shares of DTE Energy by 2.0% during the fourth quarter. Peddock Capital Advisors LLC now owns 8,462 shares of the utilities provider’s stock valued at $1,022,000 after purchasing an additional 167 shares during the period. Pallas Capital Advisors LLC increased its position in shares of DTE Energy by 4.3% during the fourth quarter. Pallas Capital Advisors LLC now owns 29,534 shares of the utilities provider’s stock valued at $3,566,000 after purchasing an additional 1,211 shares during the period. Finally, Bar Harbor Wealth Management raised its stake in shares of DTE Energy by 5.9% in the fourth quarter. Bar Harbor Wealth Management now owns 1,959 shares of the utilities provider’s stock valued at $237,000 after purchasing an additional 110 shares in the last quarter. 76.06% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Price Performance

DTE opened at $119.07 on Friday. The stock has a market capitalization of $24.66 billion, a P/E ratio of 16.13, a price-to-earnings-growth ratio of 2.07 and a beta of 0.68. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62. The company’s 50 day simple moving average is $121.61 and its 200-day simple moving average is $122.23. DTE Energy has a one year low of $102.50 and a one year high of $131.66.

DTE Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 16th were issued a $1.09 dividend. This is a boost from DTE Energy’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Monday, December 16th. This represents a $4.36 annualized dividend and a yield of 3.66%. DTE Energy’s dividend payout ratio (DPR) is currently 59.08%.

Analyst Ratings Changes

Several brokerages have issued reports on DTE. Scotiabank boosted their price target on shares of DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a report on Thursday, December 12th. Morgan Stanley cut their price target on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. BMO Capital Markets upped their price objective on DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Jefferies Financial Group initiated coverage on DTE Energy in a research report on Monday, October 21st. They set a “hold” rating and a $137.00 target price for the company. Finally, Guggenheim upgraded DTE Energy from a “neutral” rating to a “buy” rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, DTE Energy currently has a consensus rating of “Moderate Buy” and an average price target of $136.25.

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.