CIBC Asset Management Inc Increases Stock Holdings in DTE Energy (NYSE:DTE)

CIBC Asset Management Inc raised its stake in DTE Energy (NYSE:DTE) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,053 shares of the utilities provider’s stock after purchasing an additional 883 shares during the period. CIBC Asset Management Inc’s holdings in DTE Energy were worth $4,353,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp increased 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 valued at $1,319,264,000 after purchasing an additional 662,569 shares during the last quarter. Mizuho Securities USA LLC increased its stake 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 purchasing an additional 7,023,042 shares during the last quarter. Janus Henderson Group PLC increased its stake in DTE Energy by 2.4% in the third 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 during the last quarter. Charles Schwab Investment Management Inc. increased its stake in DTE Energy by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,274,837 shares of the utilities provider’s stock valued at $163,702,000 after purchasing an additional 14,937 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. increased its stake in DTE Energy by 3.5% in the third quarter. Duff & Phelps Investment Management Co. now owns 907,345 shares of the utilities provider’s stock valued at $116,512,000 after purchasing an additional 30,909 shares during the last quarter. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

DTE Energy Price Performance

DTE Energy stock opened at $130.38 on Thursday. DTE Energy has a one year low of $103.06 and a one year high of $131.66. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71. The business has a fifty day moving average of $121.73 and a two-hundred day moving average of $123.21. The company has a market cap of $27.02 billion, a P/E ratio of 19.26, a price-to-earnings-growth ratio of 2.37 and a beta of 0.68.

DTE Energy (NYSE:DTE) last released its earnings results on Thursday, February 13th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. As a group, analysts predict that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be issued a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Monday, March 17th. DTE Energy’s dividend payout ratio (DPR) is currently 64.40%.

Analyst Ratings Changes

DTE has been the topic of a number of research reports. Wells Fargo & Company raised their target price on shares of DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Scotiabank raised their target price on shares of DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. BMO Capital Markets raised their target price on shares of DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a research report on Tuesday. KeyCorp lowered shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Finally, Guggenheim upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $135.83.

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.