Sumitomo Mitsui Trust Group Inc. Acquires 37,124 Shares of DTE Energy (NYSE:DTE)

Sumitomo Mitsui Trust Group Inc. grew its holdings in DTE Energy (NYSE:DTE) by 8.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 497,810 shares of the utilities provider’s stock after purchasing an additional 37,124 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in DTE Energy were worth $60,111,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in DTE Energy during the 3rd quarter valued at $30,000. Ashton Thomas Securities LLC purchased a new position in shares of DTE Energy in the third quarter valued at $35,000. Prospera Private Wealth LLC bought a new stake in shares of DTE Energy during the 3rd quarter valued at $35,000. Versant Capital Management Inc raised its stake 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 period. Finally, Coastline Trust Co purchased a new stake in DTE Energy during the 3rd quarter worth about $39,000. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. KeyCorp lowered DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, January 24th. Guggenheim raised shares of DTE Energy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $129.00 to $143.00 in a report on Tuesday, December 3rd. Finally, Morgan Stanley dropped their price objective on DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $136.25.

DTE Energy Trading Up 0.1 %

Shares of DTE stock opened at $122.68 on Monday. 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 firm has a market cap of $25.41 billion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 2.25 and a beta of 0.68. The business has a 50-day moving average price of $120.91 and a two-hundred day moving average price of $122.81. DTE Energy has a 12-month low of $102.78 and a 12-month high of $131.66.

DTE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a $1.09 dividend. This represents a $4.36 annualized dividend and a yield of 3.55%. The ex-dividend date is Monday, March 17th. DTE Energy’s dividend 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.