Executive Wealth Management LLC Takes Position in DTE Energy (NYSE:DTE)

Executive Wealth Management LLC acquired a new stake in DTE Energy (NYSE:DTE) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,807 shares of the utilities provider’s stock, valued at approximately $2,800,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Duff & Phelps Investment Management Co. lifted its position in DTE Energy by 3.5% during the third quarter. Duff & Phelps Investment Management Co. now owns 907,345 shares of the utilities provider’s stock worth $116,512,000 after buying an additional 30,909 shares during the period. Barclays PLC lifted its position in DTE Energy by 11.9% during the third quarter. Barclays PLC now owns 755,084 shares of the utilities provider’s stock worth $96,961,000 after buying an additional 80,543 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in DTE Energy by 5.6% during the third quarter. Nomura Asset Management Co. Ltd. now owns 62,098 shares of the utilities provider’s stock worth $7,974,000 after buying an additional 3,291 shares during the period. MML Investors Services LLC lifted its position in DTE Energy by 14.6% during the third quarter. MML Investors Services LLC now owns 17,751 shares of the utilities provider’s stock worth $2,279,000 after buying an additional 2,259 shares during the period. Finally, Legacy Investment Solutions LLC purchased a new position in DTE Energy during the third quarter worth about $30,000. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on DTE shares. Morgan Stanley reduced their target price on DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. LADENBURG THALM/SH SH initiated coverage on DTE Energy in a research note on Wednesday, August 14th. They set a “buy” rating and a $131.00 price target for the company. KeyCorp lowered DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Bank of America upped their price target on DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, Mizuho increased their target price on DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $133.54.

DTE Energy Stock Up 0.2 %

DTE opened at $121.81 on Tuesday. DTE Energy has a 12 month low of $102.17 and a 12 month high of $131.66. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62. The stock has a market cap of $25.23 billion, a P/E ratio of 16.51, a P/E/G ratio of 2.24 and a beta of 0.68. The stock’s 50 day moving average price is $124.25 and its 200 day moving average price is $120.34.

DTE Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be given a dividend of $1.09 per share. The ex-dividend date is Monday, December 16th. This is a boost from DTE Energy’s previous quarterly dividend of $1.02. This represents a $4.36 annualized dividend and a dividend yield of 3.58%. DTE Energy’s dividend payout ratio (DPR) is 55.28%.

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.