DTE Energy (NYSE:DTE) Shares Sold by Quantum Financial Advisors LLC

Quantum Financial Advisors LLC reduced its holdings in DTE Energy (NYSE:DTE) by 7.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,804 shares of the utilities provider’s stock after selling 145 shares during the quarter. Quantum Financial Advisors LLC’s holdings in DTE Energy were worth $218,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Mizuho Securities USA LLC lifted its holdings in DTE Energy by 44,009.5% in the third quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock valued at $903,878,000 after acquiring an additional 7,023,042 shares during the period. State Street Corp increased its holdings in shares of DTE Energy by 7.0% in the 3rd 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. Zimmer Partners LP purchased a new position in shares of DTE Energy in the 3rd quarter valued at about $69,894,000. Point72 Asset Management L.P. acquired a new stake in shares of DTE Energy in the third quarter valued at about $66,733,000. Finally, Nordea Investment Management AB boosted its holdings in DTE Energy by 2,235.2% during the fourth quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider’s stock worth $26,706,000 after buying an additional 211,763 shares in the last quarter. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

DTE Energy Price Performance

NYSE:DTE opened at $118.16 on Tuesday. DTE Energy has a 12-month low of $102.17 and a 12-month high of $131.66. The firm has a market cap of $24.47 billion, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 2.23 and a beta of 0.68. The company’s 50-day moving average is $121.29 and its two-hundred day moving average is $121.73. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 1.76.

DTE Energy Increases Dividend

The company also recently announced 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. The ex-dividend date is Monday, December 16th. This represents a $4.36 dividend on an annualized basis and a yield of 3.69%. This is a positive change from DTE Energy’s previous quarterly dividend of $1.02. DTE Energy’s dividend payout ratio (DPR) is 55.28%.

Wall Street Analyst Weigh In

DTE has been the subject of a number of research analyst reports. KeyCorp cut shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. Scotiabank boosted their target price on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. UBS Group raised DTE Energy from a “neutral” rating to a “buy” rating and upped their target price for the company from $129.00 to $143.00 in a report on Tuesday, December 3rd. Finally, Wells Fargo & Company lifted their price target on DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.31.

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.