DTE Energy (NYSE:DTE) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its position in DTE Energy (NYSE:DTE) by 23.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,617 shares of the utilities provider’s stock after selling 7,050 shares during the period. State of Alaska Department of Revenue’s holdings in DTE Energy were worth $2,851,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new stake in shares of DTE Energy in the third quarter valued at approximately $30,000. Prospera Private Wealth LLC acquired a new stake in DTE Energy in the 3rd quarter valued at approximately $35,000. Ashton Thomas Securities LLC bought a new stake in DTE Energy during the 3rd quarter valued at $35,000. Versant Capital Management Inc boosted its position in DTE Energy by 890.0% during the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 267 shares during the period. Finally, Coastline Trust Co bought a new position in shares of DTE Energy in the third quarter worth $39,000. 76.06% of the stock is currently owned by institutional investors.

DTE Energy Stock Up 0.1 %

DTE stock opened at $122.68 on Monday. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62. The firm has a market capitalization of $25.41 billion, a P/E ratio of 16.62, a P/E/G ratio of 2.25 and a beta of 0.68. DTE Energy has a 52-week low of $102.78 and a 52-week high of $131.66. The company’s 50 day simple moving average is $120.91 and its 200-day simple moving average is $122.81.

DTE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a $1.09 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.55%. DTE Energy’s payout ratio is currently 59.08%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets lifted their price objective on shares of DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 24th. Wells Fargo & Company raised their price objective on shares of DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Jefferies Financial Group started coverage on DTE Energy in a report on Monday, October 21st. They set a “hold” rating and a $137.00 target price on the stock. Finally, UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $129.00 to $143.00 in a report on Tuesday, December 3rd. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $136.25.

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.