Crossmark Global Holdings Inc. Trims Stock Position in DTE Energy (NYSE:DTE)

Crossmark Global Holdings Inc. decreased its stake in DTE Energy (NYSE:DTE) by 12.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 7,345 shares of the utilities provider’s stock after selling 1,082 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in DTE Energy were worth $887,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Legacy Investment Solutions LLC acquired a new position in DTE Energy in the third quarter valued at approximately $30,000. Ashton Thomas Securities LLC acquired a new position in shares of DTE Energy in the 3rd quarter valued at $35,000. Prospera Private Wealth LLC purchased a new stake in DTE Energy during the third quarter worth $35,000. Versant Capital Management Inc grew 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 buying an additional 267 shares during the period. Finally, Coastline Trust Co purchased a new position in DTE Energy in the third quarter valued at $39,000. 76.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on DTE shares. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday. KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Wells Fargo & Company upped their target price on DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. 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. Finally, BMO Capital Markets upped their price objective on shares of DTE Energy from $135.00 to $140.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $136.25.

DTE Energy Stock Down 0.4 %

DTE stock opened at $119.07 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 1.76. The firm has a 50-day moving average of $121.61 and a two-hundred day moving average of $122.23. DTE Energy has a 12 month low of $102.50 and a 12 month high of $131.66. The company has a market cap of $24.66 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 2.07 and a beta of 0.68.

DTE Energy Increases Dividend

The business 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 represents a $4.36 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Monday, December 16th. This is a boost from DTE Energy’s previous quarterly dividend of $1.02. DTE Energy’s dividend payout ratio (DPR) is currently 59.08%.

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.