DTE Energy (NYSE:DTE) Shares Sold by Vestcor Inc

Vestcor Inc cut its stake in shares of DTE Energy (NYSE:DTE) by 25.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,812 shares of the utilities provider’s stock after selling 2,343 shares during the quarter. Vestcor Inc’s holdings in DTE Energy were worth $875,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in DTE Energy in the 3rd quarter valued at about $30,000. Prospera Private Wealth LLC bought a new stake in shares of DTE Energy during the third quarter valued at about $35,000. Ashton Thomas Securities LLC acquired a new stake in DTE Energy in the third quarter worth about $35,000. Ridgewood Investments LLC bought a new position in DTE Energy in the 2nd quarter valued at about $31,000. Finally, Coastline Trust Co acquired a new position in DTE Energy during the 3rd quarter valued at about $39,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DTE has been the subject of several recent analyst reports. BMO Capital Markets increased their price objective on shares of DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a report on Friday, October 18th. KeyCorp downgraded shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Wells Fargo & Company raised 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. Morgan Stanley dropped their price target on DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Finally, Scotiabank lifted their target price on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a report on Thursday. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, DTE Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.31.

DTE Energy Stock Performance

DTE stock opened at $120.78 on Friday. The firm has a 50 day simple moving average of $123.96 and a 200 day simple moving average of $120.41. DTE Energy has a 52 week low of $102.17 and a 52 week high of $131.66. The stock has a market cap of $25.01 billion, a P/E ratio of 16.37, a P/E/G ratio of 2.24 and a beta of 0.68. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.62 and a current ratio of 0.83.

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 paid a $1.09 dividend. The ex-dividend date is Monday, December 16th. This represents a $4.36 dividend on an annualized basis and a yield of 3.61%. This is an increase from DTE Energy’s previous quarterly dividend of $1.02. DTE Energy’s payout ratio is 59.08%.

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.