GAMMA Investing LLC Purchases 1,985 Shares of DTE Energy (NYSE:DTE)

GAMMA Investing LLC raised its position in shares of DTE Energy (NYSE:DTE) by 33.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,902 shares of the utilities provider’s stock after purchasing an additional 1,985 shares during the quarter. GAMMA Investing LLC’s holdings in DTE Energy were worth $954,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its position in DTE Energy by 7.0% during the third quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock valued at $1,319,264,000 after purchasing an additional 662,569 shares in the last quarter. Mizuho Securities USA LLC lifted its position in shares of DTE Energy by 44,009.5% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock valued at $903,878,000 after buying an additional 7,023,042 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of DTE Energy by 1.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,557,309 shares of the utilities provider’s stock valued at $616,938,000 after acquiring an additional 86,205 shares during the period. Janus Henderson Group PLC increased its holdings in DTE Energy by 2.4% in the 3rd quarter. Janus Henderson Group PLC now owns 2,720,265 shares of the utilities provider’s stock worth $349,309,000 after acquiring an additional 64,880 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in DTE Energy by 3.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,667,111 shares of the utilities provider’s stock worth $185,066,000 after acquiring an additional 59,811 shares in the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Analysts Set New Price Targets

DTE has been the topic of several analyst reports. Wells Fargo & Company upped their price target on shares of DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Jefferies Financial Group started coverage on shares of DTE Energy in a report on Monday, October 21st. They issued a “hold” rating and a $137.00 target price for the company. Mizuho raised their price target on DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. UBS Group raised DTE Energy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Finally, Barclays increased their target price on DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $134.31.

DTE Energy Stock Performance

Shares of NYSE:DTE opened at $121.58 on Friday. The firm has a fifty day simple moving average of $121.75 and a two-hundred day simple moving average of $121.21. DTE Energy has a 52 week low of $102.17 and a 52 week high of $131.66. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.76. The stock has a market capitalization of $25.18 billion, a P/E ratio of 16.47, a PEG ratio of 2.23 and a beta of 0.68.

DTE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be paid a dividend of $1.09 per share. This is a boost from DTE Energy’s previous quarterly dividend of $1.02. This represents a $4.36 annualized dividend and a yield of 3.59%. The ex-dividend date is Monday, December 16th. DTE Energy’s payout ratio is presently 59.08%.

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.