NorthCoast Asset Management LLC purchased a new position in DTE Energy Co (NYSE:DTE) in the fourth quarter, Holdings Channel reports. The fund purchased 4,918 shares of the utilities provider’s stock, valued at approximately $538,000.
A number of other institutional investors have also recently modified their holdings of DTE. Spectrum Management Group Inc. purchased a new position in DTE Energy in the third quarter worth approximately $111,000. SeaCrest Wealth Management LLC purchased a new position in DTE Energy in the fourth quarter worth approximately $138,000. Lenox Wealth Advisors Inc. purchased a new position in DTE Energy in the fourth quarter worth approximately $190,000. Pinnacle Advisory Group Inc. purchased a new position in DTE Energy in the third quarter worth approximately $200,000. Finally, ARP Americas LLC purchased a new position in DTE Energy in the third quarter worth approximately $201,000. Institutional investors own 68.16% of the company’s stock.
A number of brokerages recently issued reports on DTE. Zacks Investment Research downgraded shares of DTE Energy from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Guggenheim reissued a “buy” rating and set a $121.00 price objective on shares of DTE Energy in a report on Wednesday, January 3rd. Credit Suisse Group cut their price objective on shares of DTE Energy from $113.00 to $112.00 and set a “neutral” rating on the stock in a report on Thursday, October 26th. Bank of America assumed coverage on shares of DTE Energy in a report on Tuesday, October 24th. They set an “underperform” rating and a $112.00 price objective on the stock. Finally, KeyCorp reissued a “buy” rating and set a $118.50 price objective on shares of DTE Energy in a report on Friday, December 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $113.75.
Shares of DTE Energy Co (DTE) opened at $98.49 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 1.20. DTE Energy Co has a 1-year low of $96.56 and a 1-year high of $116.74. The firm has a market cap of $17,808.07, a P/E ratio of 18.04, a price-to-earnings-growth ratio of 2.86 and a beta of 0.15.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 15th. Shareholders of record on Monday, March 19th will be issued a dividend of $0.8825 per share. The ex-dividend date of this dividend is Friday, March 16th. This represents a $3.53 dividend on an annualized basis and a yield of 3.58%. DTE Energy’s payout ratio is currently 64.65%.
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About DTE Energy
DTE Energy Company is an energy company. Its segments include Electric, which consists of DTE Electric Company, which is engaged in the generation, purchase, distribution and sale of electricity to residential, commercial and industrial customers in southeastern Michigan; Gas, which consists of DTE Gas Company, which is engaged in the purchase, storage, transportation, distribution and sale of natural gas to residential, commercial and industrial customers throughout Michigan; Gas Storage and Pipelines, which consists of natural gas pipeline, gathering and storage businesses; Power and Industrial Projects, which consists of projects that deliver energy and utility-type products and services to industrial, commercial and institutional customers, and sell electricity from renewable energy projects; Energy Trading, which consists of energy marketing and trading operations, and Corporate and Other, which includes various holding company activities and holds certain non-utility debt.
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