Assenagon Asset Management S.A. Has $734,000 Position in DTE Energy (NYSE:DTE)

Assenagon Asset Management S.A. cut its position in DTE Energy (NYSE:DTE) by 7.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,078 shares of the utilities provider’s stock after selling 472 shares during the period. Assenagon Asset Management S.A.’s holdings in DTE Energy were worth $734,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DTE. Legacy Investment Solutions LLC acquired a new stake in DTE Energy during the 3rd quarter worth $30,000. Ashton Thomas Securities LLC acquired a new stake in shares of DTE Energy during the third quarter worth about $35,000. Prospera Private Wealth LLC bought a new position in shares of DTE Energy during the 3rd quarter valued at about $35,000. Versant Capital Management Inc grew its position in shares of DTE Energy by 890.0% in 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 bought a new stake in DTE Energy during the 3rd quarter worth approximately $39,000. 76.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday. Morgan Stanley reduced their target price on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. BMO Capital Markets lifted their price target on DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $129.00 to $143.00 in a report on Tuesday, December 3rd. Finally, Guggenheim upgraded DTE Energy from a “neutral” rating to a “buy” rating in a research note on Thursday. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $136.25.

DTE Energy Price Performance

Shares of DTE opened at $119.07 on Friday. The company has a market cap of $24.66 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 2.07 and a beta of 0.68. 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’s fifty day simple moving average is $121.61 and its 200 day simple moving average is $122.23. DTE Energy has a 1-year low of $102.50 and a 1-year high of $131.66.

DTE Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 16th were paid a $1.09 dividend. This is an increase from DTE Energy’s previous quarterly dividend of $1.02. This represents a $4.36 annualized dividend and a yield of 3.66%. The ex-dividend date was Monday, December 16th. DTE Energy’s dividend payout ratio (DPR) is 59.08%.

DTE Energy 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.