Wilmington Savings Fund Society FSB Buys Shares of 1,204 DTE Energy (NYSE:DTE)

Wilmington Savings Fund Society FSB bought a new stake in DTE Energy (NYSE:DTE) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 1,204 shares of the utilities provider’s stock, valued at approximately $155,000.

Several other large investors have also modified their holdings of DTE. Legacy Investment Solutions LLC acquired a new position in DTE Energy in the 3rd quarter valued at $30,000. Prospera Private Wealth LLC acquired a new stake in shares of DTE Energy in the 3rd quarter worth $35,000. Ashton Thomas Securities LLC purchased a new stake in shares of DTE Energy in the third quarter valued at about $35,000. Ridgewood Investments LLC acquired a new position in shares of DTE Energy during the second quarter worth about $31,000. Finally, Coastline Trust Co purchased a new position in DTE Energy during the third quarter worth about $39,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on DTE. KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Barclays boosted their target price on shares of DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. 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 target for the company. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th. Finally, Mizuho increased their target price on shares of DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $134.31.

DTE Energy Price Performance

DTE stock opened at $117.53 on Thursday. The stock has a market capitalization of $24.34 billion, a price-to-earnings ratio of 15.93, a price-to-earnings-growth ratio of 2.23 and a beta of 0.68. The stock’s fifty day simple moving average is $123.40 and its 200-day simple moving average is $120.66. DTE Energy has a 52-week low of $102.17 and a 52-week high of $131.66. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.76.

DTE Energy Increases Dividend

The firm also recently declared 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. This is a boost from DTE Energy’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Monday, December 16th. This represents a $4.36 annualized dividend and a yield of 3.71%. DTE Energy’s payout ratio is 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.