Hartford Investment Management Co. Decreases Stake in DTE Energy (NYSE:DTE)

Hartford Investment Management Co. lowered its position in shares of DTE Energy (NYSE:DTE) by 2.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,679 shares of the utilities provider’s stock after selling 358 shares during the quarter. Hartford Investment Management Co.’s holdings in DTE Energy were worth $1,531,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DTE. Farther Finance Advisors LLC lifted its holdings in DTE Energy by 2.3% during the third quarter. Farther Finance Advisors LLC now owns 3,588 shares of the utilities provider’s stock worth $461,000 after acquiring an additional 81 shares during the period. SkyOak Wealth LLC increased its position in shares of DTE Energy by 4.1% during the 4th quarter. SkyOak Wealth LLC now owns 2,174 shares of the utilities provider’s stock valued at $262,000 after purchasing an additional 85 shares during the last quarter. Signaturefd LLC raised its stake in shares of DTE Energy by 3.1% during the 3rd quarter. Signaturefd LLC now owns 2,889 shares of the utilities provider’s stock worth $371,000 after purchasing an additional 86 shares during the period. Stratos Wealth Partners LTD. boosted its holdings in shares of DTE Energy by 4.5% in the 4th quarter. Stratos Wealth Partners LTD. now owns 2,139 shares of the utilities provider’s stock worth $258,000 after buying an additional 92 shares during the last quarter. Finally, Tidal Investments LLC grew its position in DTE Energy by 4.0% during the third quarter. Tidal Investments LLC now owns 2,490 shares of the utilities provider’s stock valued at $320,000 after buying an additional 96 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on DTE. UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $129.00 to $143.00 in a research report on Tuesday, December 3rd. StockNews.com cut shares of DTE Energy from a “hold” rating to a “sell” rating in a report on Thursday. Jefferies Financial Group initiated coverage on DTE Energy in a report on Monday, October 21st. They set a “hold” rating and a $137.00 price objective for the company. Scotiabank boosted their target price on DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research note on Thursday, December 12th. Finally, Wells Fargo & Company increased their price target on DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $136.25.

DTE Energy Trading Up 3.0 %

Shares of DTE opened at $127.90 on Friday. DTE Energy has a twelve month low of $103.06 and a twelve month high of $131.66. The stock has a market cap of $26.49 billion, a PE ratio of 17.33, a P/E/G ratio of 2.25 and a beta of 0.68. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.76. The business’s 50-day moving average price is $120.98 and its 200-day moving average price is $122.94.

DTE Energy (NYSE:DTE) last posted its earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. DTE Energy had a net margin of 12.33% and a return on equity of 13.42%. On average, equities analysts forecast that DTE Energy will post 6.77 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 3.41%. The ex-dividend date is Monday, March 17th. DTE Energy’s dividend payout ratio 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.