Richardson Financial Services Inc. Lowers Position in DTE Energy (NYSE:DTE)

Richardson Financial Services Inc. trimmed its position in DTE Energy (NYSE:DTE) by 11.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,445 shares of the utilities provider’s stock after selling 190 shares during the period. Richardson Financial Services Inc.’s holdings in DTE Energy were worth $174,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in DTE Energy during the 3rd quarter valued at approximately $30,000. Ashton Thomas Securities LLC purchased a new stake in shares of DTE Energy in the third quarter worth $35,000. Prospera Private Wealth LLC bought a new position in shares of DTE Energy during the third quarter valued at $35,000. Versant Capital Management Inc raised 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 worth $36,000 after purchasing an additional 267 shares during the last quarter. Finally, Coastline Trust Co bought a new position in DTE Energy in the 3rd quarter worth about $39,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Price Performance

Shares of NYSE:DTE opened at $119.92 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 stock has a market capitalization of $24.84 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 2.16 and a beta of 0.68. The firm’s 50 day moving average price is $121.29 and its 200-day moving average price is $122.62. DTE Energy has a twelve month low of $102.78 and a twelve month high of $131.66.

DTE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were given a $1.09 dividend. The ex-dividend date of this dividend was Monday, December 16th. 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 3.64%. DTE Energy’s dividend payout ratio (DPR) is presently 59.08%.

Wall Street Analysts Forecast Growth

DTE has been the subject of a number of analyst reports. Jefferies Financial Group started coverage on shares of DTE Energy in a research note on Monday, October 21st. They set a “hold” rating and a $137.00 price objective for the company. Guggenheim raised shares of DTE Energy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Scotiabank upped their price objective on 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 reduced their target price on DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Finally, Wells Fargo & Company upped their price target on DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.