Fulton Bank N.A. Sells 1,115 Shares of DTE Energy (NYSE:DTE)

Fulton Bank N.A. decreased its holdings in DTE Energy (NYSE:DTE) by 7.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,923 shares of the utilities provider’s stock after selling 1,115 shares during the period. Fulton Bank N.A.’s holdings in DTE Energy were worth $1,681,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in DTE. Farther Finance Advisors LLC raised its stake in DTE Energy by 2.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,588 shares of the utilities provider’s stock valued at $461,000 after acquiring an additional 81 shares during the period. Signaturefd LLC raised its position in shares of DTE Energy by 3.1% in the third quarter. Signaturefd LLC now owns 2,889 shares of the utilities provider’s stock valued at $371,000 after purchasing an additional 86 shares during the period. Tidal Investments LLC lifted its stake in shares of DTE Energy by 4.0% during the 3rd quarter. Tidal Investments LLC now owns 2,490 shares of the utilities provider’s stock worth $320,000 after buying an additional 96 shares during the last quarter. ASB Consultores LLC boosted its holdings in shares of DTE Energy by 4.9% during the 2nd quarter. ASB Consultores LLC now owns 2,179 shares of the utilities provider’s stock worth $242,000 after buying an additional 101 shares during the period. Finally, Centennial Wealth Advisory LLC grew its stake in DTE Energy by 2.1% in the 3rd quarter. Centennial Wealth Advisory LLC now owns 5,338 shares of the utilities provider’s stock valued at $685,000 after buying an additional 110 shares during the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Stock Performance

Shares of DTE Energy stock opened at $121.06 on Thursday. 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 company has a market cap of $25.07 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 2.23 and a beta of 0.68. The company has a 50 day moving average of $121.47 and a 200-day moving average of $121.48. DTE Energy has a 1-year low of $102.17 and a 1-year high of $131.66.

DTE Energy Increases Dividend

The firm also recently announced 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 is a boost from DTE Energy’s previous quarterly dividend of $1.02. This represents a $4.36 annualized dividend and a yield of 3.60%. DTE Energy’s dividend payout ratio is presently 59.08%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on DTE shares. BMO Capital Markets boosted their price objective on DTE Energy from $135.00 to $140.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Jefferies Financial Group initiated coverage on DTE Energy in a research note on Monday, October 21st. They issued a “hold” rating and a $137.00 price target for the company. Morgan Stanley lowered their price objective on DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Wells Fargo & Company boosted their target price on shares of DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $134.31.

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.