Franklin Resources Inc. Has $256.94 Million Holdings in DTE Energy (NYSE:DTE)

Franklin Resources Inc. decreased its position in DTE Energy (NYSE:DTE) by 7.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,046,010 shares of the utilities provider’s stock after selling 161,786 shares during the period. Franklin Resources Inc.’s holdings in DTE Energy were worth $256,938,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of DTE Energy by 23.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 17,263 shares of the utilities provider’s stock valued at $1,916,000 after purchasing an additional 3,273 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in DTE Energy by 4.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,014 shares of the utilities provider’s stock worth $557,000 after purchasing an additional 222 shares in the last quarter. Blue Trust Inc. lifted its stake in DTE Energy by 9.7% in the second quarter. Blue Trust Inc. now owns 1,995 shares of the utilities provider’s stock valued at $224,000 after buying an additional 176 shares during the period. Gradient Investments LLC boosted its holdings in shares of DTE Energy by 91.0% during the 2nd quarter. Gradient Investments LLC now owns 1,333 shares of the utilities provider’s stock worth $148,000 after buying an additional 635 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of DTE Energy by 0.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 52,790 shares of the utilities provider’s stock worth $5,915,000 after buying an additional 205 shares during the period. Institutional investors own 76.06% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on DTE shares. BMO Capital Markets increased their target price on shares of DTE Energy from $135.00 to $140.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $129.00 to $143.00 in a research report on Tuesday, December 3rd. Barclays upped their price target on DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Wells Fargo & Company raised their price objective on DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Mizuho upped their target price on DTE Energy from $121.00 to $133.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, DTE Energy has a consensus rating of “Moderate Buy” and a consensus price target of $134.31.

DTE Energy Trading Up 0.4 %

NYSE DTE opened at $121.28 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 capitalization of $25.12 billion, a P/E ratio of 16.43, a PEG ratio of 2.23 and a beta of 0.68. The business has a fifty day simple moving average of $123.71 and a 200 day simple moving average of $120.52. DTE Energy has a 12 month low of $102.17 and a 12 month high of $131.66.

DTE Energy Increases Dividend

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

About DTE Energy

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.