State Street Corp Purchases 662,569 Shares of DTE Energy (NYSE:DTE)

State Street Corp boosted its position in DTE Energy (NYSE:DTE) by 7.0% in the 3rd quarter, Holdings Channel reports. The firm owned 10,193,572 shares of the utilities provider’s stock after buying an additional 662,569 shares during the quarter. State Street Corp’s holdings in DTE Energy were worth $1,319,264,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Cetera Advisors LLC bought a new stake in shares of DTE Energy during the 1st quarter worth approximately $708,000. Cetera Investment Advisers lifted its position in shares of DTE Energy by 242.0% during the first quarter. Cetera Investment Advisers now owns 29,306 shares of the utilities provider’s stock worth $3,286,000 after purchasing an additional 20,737 shares during the last quarter. Hancock Whitney Corp lifted its position in shares of DTE Energy by 80.0% during the third quarter. Hancock Whitney Corp now owns 12,885 shares of the utilities provider’s stock worth $1,655,000 after purchasing an additional 5,725 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of DTE Energy by 19.0% during the second quarter. Bank of Montreal Can now owns 269,031 shares of the utilities provider’s stock valued at $30,220,000 after purchasing an additional 42,960 shares during the period. Finally, Blueshift Asset Management LLC bought a new position in shares of DTE Energy in the third quarter worth about $583,000. Institutional investors own 76.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on DTE shares. Scotiabank lifted their price objective on shares of DTE Energy from $120.00 to $137.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Bank of America lifted their price target on shares of DTE Energy from $131.00 to $136.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th. Jefferies Financial Group initiated coverage on DTE Energy in a report on Monday, October 21st. They set a “hold” rating and a $137.00 price objective on the stock. Finally, Barclays upped their target price on DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $133.54.

DTE Energy Trading Down 0.7 %

DTE opened at $121.57 on Friday. 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 firm has a market cap of $25.18 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 2.27 and a beta of 0.68. DTE Energy has a 12 month low of $102.17 and a 12 month high of $131.66. The stock has a fifty day moving average price of $124.50 and a 200-day moving average price of $120.18.

DTE Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be issued a $1.09 dividend. The ex-dividend date is Monday, December 16th. This is an increase from DTE Energy’s previous quarterly dividend of $1.02. This represents a $4.36 dividend on an annualized basis and a yield of 3.59%. DTE Energy’s payout ratio is currently 59.08%.

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.