1,567 Shares in DTE Energy (NYSE:DTE) Bought by Second Line Capital LLC

Second Line Capital LLC acquired a new stake in DTE Energy (NYSE:DTE) in the third quarter, HoldingsChannel reports. The firm acquired 1,567 shares of the utilities provider’s stock, valued at approximately $203,000.

Several other large investors have also recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC acquired a new position in shares of DTE Energy in the 3rd quarter valued at $30,000. Ridgewood Investments LLC purchased a new position in shares of DTE Energy in the 2nd quarter worth about $31,000. Ashton Thomas Securities LLC acquired a new position in shares of DTE Energy in the 3rd quarter valued at about $35,000. Prospera Private Wealth LLC purchased a new stake in shares of DTE Energy during the 3rd quarter worth about $35,000. Finally, Coastline Trust Co acquired a new stake in DTE Energy during the 3rd quarter worth approximately $39,000. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

DTE Energy Price Performance

Shares of DTE opened at $121.99 on Wednesday. DTE Energy has a 52 week low of $102.17 and a 52 week 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 firm has a market cap of $25.26 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 2.24 and a beta of 0.68. The stock has a 50 day moving average of $124.25 and a 200-day moving average of $120.34.

DTE Energy Increases Dividend

The firm 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 dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.57%. This is a boost from DTE Energy’s previous quarterly dividend of $1.02. The ex-dividend date is Monday, December 16th. DTE Energy’s dividend payout ratio is 59.08%.

Analyst Upgrades and Downgrades

DTE has been the topic of a number of research reports. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. Morgan Stanley decreased 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. Jefferies Financial Group initiated coverage on shares of DTE Energy in a research report on Monday, October 21st. They set a “hold” rating and a $137.00 target price on the stock. Bank of America raised their price target on shares of DTE Energy from $131.00 to $136.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Scotiabank boosted their price objective on shares of DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.54.

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.