Beach Investment Counsel Inc. PA Cuts Stake in DTE Energy (NYSE:DTE)

Beach Investment Counsel Inc. PA reduced its stake in shares of DTE Energy (NYSE:DTE) by 8.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 61,568 shares of the utilities provider’s stock after selling 6,003 shares during the period. DTE Energy makes up about 1.0% of Beach Investment Counsel Inc. PA’s holdings, making the stock its 27th largest holding. Beach Investment Counsel Inc. PA’s holdings in DTE Energy were worth $7,434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Mizuho Securities USA LLC grew its holdings in shares of DTE Energy by 44,009.5% in the third quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock valued at $903,878,000 after purchasing an additional 7,023,042 shares in the last quarter. State Street Corp lifted its position in DTE Energy by 7.0% in the third quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock worth $1,319,264,000 after buying an additional 662,569 shares during the last quarter. Zimmer Partners LP bought a new stake in DTE Energy in the third quarter worth $69,894,000. Point72 Asset Management L.P. bought a new stake in DTE Energy in the third quarter worth $66,733,000. Finally, Nordea Investment Management AB lifted its position in shares of DTE Energy by 2,235.2% during the fourth quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider’s stock worth $26,706,000 after purchasing an additional 211,763 shares during the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Stock Down 1.2 %

Shares of DTE opened at $119.48 on Tuesday. 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 has a one year low of $102.78 and a one year high of $131.66. The stock has a market capitalization of $24.74 billion, a price-to-earnings ratio of 16.20, a PEG ratio of 2.20 and a beta of 0.68. The stock has a 50 day moving average price of $121.29 and a 200 day moving average price of $122.66.

DTE Energy Increases Dividend

The company also recently declared 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. This represents a $4.36 annualized dividend and a dividend yield of 3.65%. This is a boost from DTE Energy’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Monday, December 16th. DTE Energy’s payout ratio is presently 59.08%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DTE. Jefferies Financial Group started coverage on DTE Energy in a research report on Monday, October 21st. They set a “hold” rating and a $137.00 target price for the company. KeyCorp lowered DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Guggenheim upgraded DTE Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Barclays upped their target price on DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, January 24th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $136.25.

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.