OLD National Bancorp IN Reduces Stake in DTE Energy (NYSE:DTE)

OLD National Bancorp IN decreased its holdings in shares of DTE Energy (NYSE:DTE) by 1.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 11,206 shares of the utilities provider’s stock after selling 195 shares during the quarter. OLD National Bancorp IN’s holdings in DTE Energy were worth $1,353,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DTE. Legacy Investment Solutions LLC acquired a new stake in DTE Energy during the third quarter worth approximately $30,000. Ashton Thomas Securities LLC purchased a new position in shares of DTE Energy in the 3rd quarter valued at $35,000. Prospera Private Wealth LLC acquired a new stake in DTE Energy during the 3rd quarter worth $35,000. Versant Capital Management Inc lifted its position in DTE Energy by 890.0% in the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 267 shares during the last quarter. Finally, Coastline Trust Co acquired a new position in DTE Energy in the third quarter valued at $39,000. 76.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DTE has been the topic of a number of research analyst reports. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 24th. Barclays boosted their price objective on DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Wells Fargo & Company raised their target price on shares of DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. BMO Capital Markets lifted their target price on shares of DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Finally, Jefferies Financial Group initiated coverage on shares of DTE Energy in a research note on Monday, October 21st. They set a “hold” rating and a $137.00 price target for the company. Five 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 stock has an average rating of “Moderate Buy” and a consensus target price of $136.25.

DTE Energy Trading Up 0.5 %

NYSE DTE opened at $119.92 on Friday. DTE Energy has a 52-week low of $102.78 and a 52-week high of $131.66. The firm has a 50-day moving average price of $121.38 and a 200 day moving average price of $122.52. The stock has a market capitalization of $24.84 billion, a P/E ratio of 16.25, a P/E/G ratio of 2.16 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 firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th were issued a $1.09 dividend. This is a boost from DTE Energy’s previous quarterly dividend of $1.02. This represents a $4.36 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend was Monday, December 16th. DTE Energy’s dividend payout ratio (DPR) is currently 59.08%.

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.