Forsta AP Fonden Boosts Holdings in DTE Energy (NYSE:DTE)

Forsta AP Fonden lifted its stake in shares of DTE Energy (NYSE:DTE) by 2.9% in the fourth quarter, Holdings Channel reports. The firm owned 61,000 shares of the utilities provider’s stock after buying an additional 1,700 shares during the period. Forsta AP Fonden’s holdings in DTE Energy were worth $7,366,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of DTE. Legacy Investment Solutions LLC acquired a new stake in DTE Energy in the 3rd quarter worth about $30,000. Ashton Thomas Securities LLC acquired a new stake in shares of DTE Energy in the third quarter worth approximately $35,000. Prospera Private Wealth LLC purchased a new stake in shares of DTE Energy during the third quarter worth approximately $35,000. Versant Capital Management Inc raised its stake in DTE Energy by 890.0% in the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 267 shares during the last quarter. Finally, Coastline Trust Co purchased a new position in DTE Energy in the 3rd quarter valued at $39,000. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Trading Up 1.4 %

Shares of DTE stock opened at $119.30 on Friday. DTE Energy has a 1-year low of $102.78 and a 1-year high of $131.66. The firm has a market cap of $24.71 billion, a PE ratio of 16.16, a price-to-earnings-growth ratio of 2.07 and a beta of 0.68. The company has a 50-day moving average of $121.47 and a two-hundred day moving average of $122.54. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62.

DTE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 16th were given a dividend of $1.09 per share. The ex-dividend date was Monday, December 16th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.65%. This is a boost from DTE Energy’s previous quarterly dividend of $1.02. DTE Energy’s dividend payout ratio (DPR) is presently 59.08%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Jefferies Financial Group started coverage on shares of DTE Energy in a report on Monday, October 21st. They issued a “hold” rating and a $137.00 price objective for the company. BMO Capital Markets boosted their target price on DTE Energy from $135.00 to $140.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Barclays increased their price target on DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 24th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.