Smith Group Asset Management LLC Takes Position in DTE Energy (NYSE:DTE)

Smith Group Asset Management LLC bought a new position in DTE Energy (NYSE:DTE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,000 shares of the utilities provider’s stock, valued at approximately $362,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. increased its position in shares of DTE Energy by 66.6% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 18,072 shares of the utilities provider’s stock worth $2,182,000 after acquiring an additional 7,225 shares in the last quarter. Perigon Wealth Management LLC increased its holdings in DTE Energy by 15.1% in the 4th quarter. Perigon Wealth Management LLC now owns 10,912 shares of the utilities provider’s stock valued at $1,342,000 after purchasing an additional 1,429 shares in the last quarter. Pacer Advisors Inc. raised its position in DTE Energy by 100.0% in the fourth quarter. Pacer Advisors Inc. now owns 30,822 shares of the utilities provider’s stock valued at $3,722,000 after purchasing an additional 15,412 shares during the period. KBC Group NV raised its position in DTE Energy by 20.6% in the fourth quarter. KBC Group NV now owns 19,426 shares of the utilities provider’s stock valued at $2,346,000 after purchasing an additional 3,320 shares during the period. Finally, Capital Asset Advisory Services LLC boosted its position in shares of DTE Energy by 14.5% in the fourth quarter. Capital Asset Advisory Services LLC now owns 4,212 shares of the utilities provider’s stock worth $512,000 after buying an additional 532 shares during the period. Institutional investors and hedge funds own 76.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $129.00 to $143.00 in a research report on Tuesday, December 3rd. Morgan Stanley lowered their price target on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Barclays boosted their price objective on shares of DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, Jefferies Financial Group initiated coverage on DTE Energy in a research note on Monday, October 21st. They set a “hold” rating and a $137.00 target price for the company. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $136.25.

DTE Energy Trading Down 0.7 %

NYSE:DTE opened at $117.82 on Thursday. DTE Energy has a 52 week low of $102.78 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. The company has a market cap of $24.40 billion, a PE ratio of 15.96, a P/E/G ratio of 2.07 and a beta of 0.68. The business’s 50 day moving average is $121.56 and its two-hundred day moving average is $122.58.

DTE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were issued a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend was Monday, December 16th. This is an increase from DTE Energy’s previous quarterly dividend of $1.02. DTE Energy’s payout ratio is currently 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.