Retirement Guys Formula LLC Purchases 762 Shares of DTE Energy (NYSE:DTE)

Retirement Guys Formula LLC grew its position in DTE Energy (NYSE:DTE) by 8.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 9,560 shares of the utilities provider’s stock after acquiring an additional 762 shares during the period. Retirement Guys Formula LLC’s holdings in DTE Energy were worth $1,154,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of DTE. Mizuho Securities USA LLC lifted its stake in shares of DTE Energy by 44,009.5% in the 3rd 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 last quarter. State Street Corp increased its holdings in DTE Energy by 7.0% in the third quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock valued at $1,319,264,000 after purchasing an additional 662,569 shares during the period. Zimmer Partners LP acquired a new stake in DTE Energy in the third quarter valued at $69,894,000. Point72 Asset Management L.P. acquired a new stake in DTE Energy in the third quarter valued at $66,733,000. Finally, Nordea Investment Management AB increased its holdings in DTE Energy by 2,235.2% in the fourth 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 during the period. 76.06% of the stock is currently owned by institutional investors.

DTE Energy Stock Performance

Shares of DTE opened at $124.86 on Wednesday. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62. The stock has a 50-day moving average of $120.91 and a 200-day moving average of $122.88. The company has a market cap of $25.86 billion, a PE ratio of 16.92, a P/E/G ratio of 2.25 and a beta of 0.68. DTE Energy has a one year low of $103.06 and a one year high of $131.66.

DTE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be paid a $1.09 dividend. The ex-dividend date is Monday, March 17th. This represents a $4.36 annualized dividend and a dividend yield of 3.49%. DTE Energy’s dividend payout ratio is presently 59.08%.

Analyst Upgrades and Downgrades

DTE has been the subject of a number of recent research reports. Jefferies Financial Group initiated coverage on DTE Energy in a report on Monday, October 21st. They issued a “hold” rating and a $137.00 price objective for the company. Guggenheim upgraded DTE Energy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Morgan Stanley decreased their price objective on DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Scotiabank increased their price objective on DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a report on Thursday, December 12th. Finally, BMO Capital Markets increased their price target on DTE Energy from $135.00 to $140.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently 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.