World Investment Advisors LLC Makes New Investment in DTE Energy (NYSE:DTE)

World Investment Advisors LLC bought a new stake in shares of DTE Energy (NYSE:DTE) in the third quarter, HoldingsChannel reports. The institutional investor bought 2,092 shares of the utilities provider’s stock, valued at approximately $269,000.

Several other large investors also recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. grew its stake in DTE Energy by 4.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,014 shares of the utilities provider’s stock worth $557,000 after buying an additional 222 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new stake in shares of DTE Energy during the 2nd quarter worth approximately $217,000. Hennessy Advisors Inc. boosted its position in shares of DTE Energy by 2.9% during the 2nd quarter. Hennessy Advisors Inc. now owns 53,804 shares of the utilities provider’s stock worth $5,973,000 after acquiring an additional 1,500 shares in the last quarter. &PARTNERS acquired a new position in DTE Energy during the second quarter valued at approximately $489,000. Finally, My Legacy Advisors LLC bought a new stake in DTE Energy during the second quarter worth $481,000. 76.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DTE. Wells Fargo & Company boosted their price target on DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Scotiabank boosted their target price 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. KeyCorp downgraded shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Barclays upped their price objective on shares of DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $134.31.

DTE Energy Stock Down 2.6 %

Shares of NYSE:DTE opened at $117.53 on Thursday. The firm has a market cap of $24.34 billion, a P/E ratio of 15.93, a P/E/G ratio of 2.23 and a beta of 0.68. DTE Energy has a 12-month low of $102.17 and a 12-month high of $131.66. The business has a fifty day simple moving average of $123.40 and a 200 day simple moving average of $120.66. 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 disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be paid a $1.09 dividend. This is a positive change from DTE Energy’s previous quarterly dividend of $1.02. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend is Monday, December 16th. DTE Energy’s payout ratio is currently 59.08%.

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.