Point72 Asset Management L.P. Takes $66.73 Million Position in DTE Energy (NYSE:DTE)

Point72 Asset Management L.P. bought a new stake in DTE Energy (NYSE:DTE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 519,686 shares of the utilities provider’s stock, valued at approximately $66,733,000.

Several other hedge funds and other institutional investors have also made changes to their positions in DTE. Ridgewood Investments LLC purchased a new position in shares of DTE Energy in the second quarter valued at approximately $31,000. Ashton Thomas Securities LLC acquired a new stake in shares of DTE Energy in the third quarter valued at approximately $35,000. Prospera Private Wealth LLC acquired a new stake in shares of DTE Energy in the third quarter valued at approximately $35,000. Coastline Trust Co acquired a new stake in shares of DTE Energy in the third quarter valued at approximately $39,000. Finally, Fairscale Capital LLC acquired a new stake in shares of DTE Energy in the second quarter valued at approximately $54,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Trading Down 0.6 %

Shares of NYSE DTE opened at $122.26 on Thursday. DTE Energy has a twelve month low of $102.17 and a twelve month high of $131.66. 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 stock has a fifty day simple moving average of $124.56 and a 200-day simple moving average of $120.16. The stock has a market capitalization of $25.32 billion, a PE ratio of 16.57, a PEG ratio of 2.28 and a beta of 0.68.

DTE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be paid a $1.09 dividend. This is a boost from DTE Energy’s previous quarterly dividend of $1.02. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.57%. DTE Energy’s payout ratio is presently 55.28%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DTE. Bank of America increased their price target on DTE Energy from $131.00 to $136.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Morgan Stanley cut their price target on DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. BMO Capital Markets raised their target price 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. Jefferies Financial Group assumed coverage on DTE Energy in a research note on Monday, October 21st. They set a “hold” rating and a $137.00 target price for the company. Finally, Mizuho raised their target price on DTE Energy from $121.00 to $133.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $133.54.

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.