Hartford Investment Management Co. Cuts Holdings in DTE Energy (NYSE:DTE)

Hartford Investment Management Co. decreased its stake in DTE Energy (NYSE:DTE) by 2.7% during the fourth quarter, Holdings Channel.com reports. 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new position in DTE Energy in the third quarter worth $30,000. Prospera Private Wealth LLC bought a new stake in DTE Energy during the third quarter worth about $35,000. Ashton Thomas Securities LLC purchased a new position in shares of DTE Energy in the 3rd quarter worth about $35,000. Versant Capital Management Inc increased its position in shares of DTE Energy by 890.0% during the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 267 shares during the last quarter. Finally, Coastline Trust Co purchased a new position in shares of DTE Energy during the 3rd quarter valued at about $39,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Performance

DTE Energy stock opened at $127.90 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 1.76. The firm has a market cap of $26.49 billion, a P/E ratio of 17.33, a P/E/G ratio of 2.25 and a beta of 0.68. DTE Energy has a 1-year low of $103.06 and a 1-year high of $131.66. The firm has a 50-day moving average of $120.98 and a 200-day moving average of $122.94.

DTE Energy (NYSE:DTE) last released its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.01. DTE Energy had a return on equity of 13.42% and a net margin of 12.33%. Sell-side analysts expect that DTE Energy will post 6.77 EPS for the current year.

DTE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be given a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date is Monday, March 17th. DTE Energy’s payout ratio is currently 59.08%.

Analysts Set New Price Targets

Several analysts have issued reports on DTE shares. Scotiabank upped their target price on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research note on Thursday, December 12th. StockNews.com cut shares of DTE Energy from a “hold” rating to a “sell” rating in a research note on Thursday. Morgan Stanley reduced their target price on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Guggenheim raised shares of DTE Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, UBS Group raised DTE Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $129.00 to $143.00 in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, DTE Energy presently has a consensus rating of “Moderate Buy” and a consensus 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.