SG Americas Securities LLC Raises Stake in DTE Energy (NYSE:DTE)

SG Americas Securities LLC raised its stake in shares of DTE Energy (NYSE:DTE) by 1,585.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 170,638 shares of the utilities provider’s stock after buying an additional 160,516 shares during the quarter. SG Americas Securities LLC’s holdings in DTE Energy were worth $20,605,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of DTE. Mizuho Securities USA LLC boosted its position in shares of DTE Energy by 44,009.5% in the third quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock valued at $903,878,000 after acquiring an additional 7,023,042 shares during the period. State Street Corp lifted its stake in DTE Energy by 7.0% in the 3rd quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock worth $1,319,264,000 after purchasing an additional 662,569 shares in the last quarter. Zimmer Partners LP purchased a new stake in DTE Energy in the 3rd quarter worth approximately $69,894,000. Point72 Asset Management L.P. bought a new position in DTE Energy in the 3rd quarter valued at $66,733,000. Finally, Nordea Investment Management AB grew its position in shares of DTE Energy by 2,235.2% during the 4th quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider’s stock valued at $26,706,000 after purchasing an additional 211,763 shares in the last quarter. 76.06% of the stock is currently owned by institutional investors.

DTE Energy Stock Performance

NYSE DTE opened at $120.08 on Thursday. The company has a 50-day simple moving average of $121.58 and a two-hundred day simple moving average of $122.26. DTE Energy has a 12-month low of $102.17 and a 12-month high of $131.66. The firm has a market cap of $24.87 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 2.14 and a beta of 0.68. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.76.

DTE Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 16th were issued a dividend of $1.09 per share. The ex-dividend date of this dividend was 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 3.63%. DTE Energy’s dividend payout ratio is currently 59.08%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on DTE shares. KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. 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 report on Friday, October 18th. StockNews.com cut shares of DTE Energy from a “hold” rating to a “sell” rating in a research report on Thursday, January 16th. Morgan Stanley dropped 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 report on Friday, November 22nd. Finally, Scotiabank raised their price objective 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, DTE Energy currently has an average rating of “Moderate Buy” and a consensus target price of $136.25.

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.