Catalyst Capital Advisors LLC Takes Position in DTE Energy (NYSE:DTE)

Catalyst Capital Advisors LLC acquired a new position in shares of DTE Energy (NYSE:DTE) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 726 shares of the utilities provider’s stock, valued at approximately $88,000.

Several other hedge funds have also added to or reduced their stakes in DTE. Mizuho Securities USA LLC raised its stake in DTE Energy by 44,009.5% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock worth $903,878,000 after buying an additional 7,023,042 shares during the period. State Street Corp raised its stake in DTE Energy by 7.0% during the 3rd quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock worth $1,319,264,000 after buying an additional 662,569 shares during the period. Zimmer Partners LP acquired a new stake in DTE Energy during the 3rd quarter worth $69,894,000. Point72 Asset Management L.P. acquired a new stake in DTE Energy during the 3rd quarter worth $66,733,000. Finally, Nordea Investment Management AB raised its stake in 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 worth $26,706,000 after buying an additional 211,763 shares during the period. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Price Performance

Shares of NYSE DTE opened at $129.48 on Wednesday. DTE Energy has a fifty-two week low of $103.06 and a fifty-two week high of $131.66. 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 market capitalization of $26.82 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 2.25 and a beta of 0.68. The business has a 50-day moving average of $121.39 and a 200-day moving average of $123.12.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. DTE Energy had a return on equity of 13.42% and a net margin of 12.33%. As a group, sell-side analysts predict that DTE Energy will post 6.77 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be issued a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s payout ratio is currently 64.40%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DTE. Guggenheim raised DTE Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Scotiabank lifted their price target on DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research note on Thursday, December 12th. Wells Fargo & Company lifted their price target on DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Finally, UBS Group raised DTE Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $129.00 to $143.00 in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $135.83.

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.