International Assets Investment Management LLC Acquires New Position in DTE Energy (NYSE:DTE)

International Assets Investment Management LLC purchased a new position in DTE Energy (NYSE:DTE) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,564 shares of the utilities provider’s stock, valued at approximately $1,400,000.

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

DTE Energy Trading Up 0.6 %

Shares of DTE Energy stock opened at $121.06 on Thursday. 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 stock’s 50 day simple moving average is $121.47 and its 200-day simple moving average is $121.48. The stock has a market cap of $25.07 billion, a P/E ratio of 16.40, a P/E/G ratio of 2.23 and a beta of 0.68. DTE Energy has a 1-year low of $102.17 and a 1-year high of $131.66.

DTE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be given a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.60%. This is an increase from DTE Energy’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Monday, December 16th. DTE Energy’s dividend payout ratio (DPR) is presently 59.08%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a report on Monday, October 7th. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th. BMO Capital Markets upped their price objective on DTE Energy from $135.00 to $140.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Morgan Stanley cut their target price 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. Finally, KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.