Everence Capital Management Inc. Trims Position in DTE Energy (NYSE:DTE)

Everence Capital Management Inc. lowered its position in DTE Energy (NYSE:DTE) by 41.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,300 shares of the utilities provider’s stock after selling 3,070 shares during the quarter. Everence Capital Management Inc.’s holdings in DTE Energy were worth $519,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DTE. Mizuho Securities USA LLC grew its stake in shares of DTE Energy by 44,009.5% in the 3rd quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock valued at $903,878,000 after buying an additional 7,023,042 shares during the period. State Street Corp lifted its holdings in DTE Energy by 7.0% in the third quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock valued at $1,319,264,000 after acquiring an additional 662,569 shares during the last quarter. Zimmer Partners LP purchased a new position in DTE Energy in the third quarter worth approximately $69,894,000. Point72 Asset Management L.P. acquired a new stake in DTE Energy during the third quarter worth $66,733,000. Finally, National Bank of Canada FI raised its position in DTE Energy by 246.9% in the third quarter. National Bank of Canada FI now owns 282,553 shares of the utilities provider’s stock valued at $36,282,000 after purchasing an additional 201,096 shares during the period. 76.06% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Trading Up 0.4 %

DTE opened at $121.58 on Monday. The business has a fifty day moving average price of $121.75 and a 200 day moving average price of $121.36. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62. DTE Energy has a 12 month low of $102.17 and a 12 month high of $131.66. The stock has a market capitalization of $25.18 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 2.23 and a beta of 0.68.

DTE Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be paid a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.59%. This is a positive change from DTE Energy’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Monday, December 16th. DTE Energy’s dividend payout ratio is presently 59.08%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Jefferies Financial Group began coverage on DTE Energy in a report on Monday, October 21st. They set a “hold” rating and a $137.00 price target for the company. Scotiabank lifted their price target on shares of DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research report on Thursday, December 12th. Morgan Stanley decreased their price objective 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. KeyCorp downgraded shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Finally, StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, DTE Energy has an average rating of “Moderate Buy” and a consensus price target 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.