Great Lakes Retirement Inc. Sells 123 Shares of DTE Energy (NYSE:DTE)

Great Lakes Retirement Inc. cut its stake in shares of DTE Energy (NYSE:DTE) by 1.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 8,944 shares of the utilities provider’s stock after selling 123 shares during the period. Great Lakes Retirement Inc.’s holdings in DTE Energy were worth $1,080,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new position in shares of DTE Energy during the third quarter valued at $30,000. Prospera Private Wealth LLC bought a new position in shares of DTE Energy during the third quarter valued at $35,000. Ashton Thomas Securities LLC bought a new position in shares of DTE Energy during the third quarter valued at $35,000. Versant Capital Management Inc increased its holdings in shares of DTE Energy by 890.0% during 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 in the last quarter. Finally, Coastline Trust Co bought a new position in shares of DTE Energy during the third quarter valued at $39,000. 76.06% of the stock is currently owned by institutional investors.

DTE Energy Trading Down 0.7 %

Shares of NYSE:DTE opened at $124.03 on Thursday. The stock has a market capitalization of $25.69 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 2.25 and a beta of 0.68. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.62 and a current ratio of 0.83. The stock’s 50-day simple moving average is $120.94 and its two-hundred day simple moving average is $122.93. DTE Energy has a 52-week low of $103.06 and a 52-week high of $131.66.

DTE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be given a $1.09 dividend. The ex-dividend date is Monday, March 17th. This represents a $4.36 annualized dividend and a yield of 3.52%. DTE Energy’s payout ratio is 59.08%.

Analyst Ratings Changes

DTE has been the subject of several analyst reports. Morgan Stanley reduced their price target on DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $129.00 to $143.00 in a report on Tuesday, December 3rd. Jefferies Financial Group started 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. Finally, KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $136.25.

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.