Orion Portfolio Solutions LLC Trims Stock Holdings in DTE Energy (NYSE:DTE)

Orion Portfolio Solutions LLC trimmed its holdings in DTE Energy (NYSE:DTE) by 2.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,124 shares of the utilities provider’s stock after selling 85 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in DTE Energy were worth $530,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of DTE. Prospera Private Wealth LLC purchased a new position in DTE Energy during the 3rd quarter worth $35,000. Ashton Thomas Securities LLC purchased a new position in DTE Energy during the 3rd quarter worth $35,000. Ridgewood Investments LLC purchased a new position in DTE Energy during the 2nd quarter worth $31,000. Coastline Trust Co purchased a new position in DTE Energy during the 3rd quarter worth $39,000. Finally, Fairscale Capital LLC purchased a new position in DTE Energy during the 2nd quarter worth $54,000. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

DTE Energy Stock Down 0.5 %

DTE Energy stock opened at $120.71 on Wednesday. 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 capitalization of $25.00 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 2.23 and a beta of 0.68. DTE Energy has a 1-year low of $102.17 and a 1-year high of $131.66. The business has a fifty day moving average price of $123.54 and a 200-day moving average price of $120.68.

DTE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be paid a dividend of $1.09 per share. The ex-dividend date is Monday, December 16th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.61%. This is a positive change from DTE Energy’s previous quarterly dividend of $1.02. DTE Energy’s dividend payout ratio (DPR) is presently 59.08%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on DTE shares. Bank of America raised their price objective on DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Scotiabank raised their price objective on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a report on Thursday, December 12th. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th. UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $129.00 to $143.00 in a report on Tuesday, December 3rd. Finally, Barclays lifted their price target on DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.31.

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.