Sumitomo Mitsui DS Asset Management Company Ltd Purchases 576 Shares of DTE Energy (NYSE:DTE)

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of DTE Energy (NYSE:DTE) by 2.5% in the fourth quarter, Holdings Channel reports. The firm owned 24,056 shares of the utilities provider’s stock after purchasing an additional 576 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in DTE Energy were worth $2,905,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in DTE. Farther Finance Advisors LLC boosted its stake in DTE Energy by 2.3% during the third quarter. Farther Finance Advisors LLC now owns 3,588 shares of the utilities provider’s stock valued at $461,000 after buying an additional 81 shares during the period. SkyOak Wealth LLC boosted its position in shares of DTE Energy by 4.1% during the 4th quarter. SkyOak Wealth LLC now owns 2,174 shares of the utilities provider’s stock valued at $262,000 after acquiring an additional 85 shares during the last quarter. Signaturefd LLC grew its holdings in shares of DTE Energy by 3.1% during the third quarter. Signaturefd LLC now owns 2,889 shares of the utilities provider’s stock worth $371,000 after purchasing an additional 86 shares in the last quarter. Stratos Wealth Partners LTD. increased its position in shares of DTE Energy by 4.5% in the fourth quarter. Stratos Wealth Partners LTD. now owns 2,139 shares of the utilities provider’s stock worth $258,000 after purchasing an additional 92 shares during the last quarter. Finally, Tidal Investments LLC raised its stake in DTE Energy by 4.0% in the third quarter. Tidal Investments LLC now owns 2,490 shares of the utilities provider’s stock valued at $320,000 after purchasing an additional 96 shares in the last quarter. Institutional investors own 76.06% of the company’s stock.

Analyst Ratings Changes

DTE has been the subject of a number of research reports. Morgan Stanley cut their price target 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. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 24th. UBS Group raised DTE Energy from a “neutral” rating to a “buy” rating and increased their target price for the company from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Scotiabank lifted their price target on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research note on Thursday, December 12th. Finally, KeyCorp lowered DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, DTE Energy has an average rating of “Moderate Buy” and an average target price of $136.25.

DTE Energy Price Performance

Shares of DTE Energy stock opened at $122.68 on Monday. 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 one year low of $102.78 and a one year high of $131.66. The business’s 50 day simple moving average is $120.91 and its two-hundred day simple moving average is $122.81. The stock has a market capitalization 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.

DTE Energy Announces Dividend

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