Nomura Asset Management Co. Ltd. Acquires 3,291 Shares of DTE Energy (NYSE:DTE)

Nomura Asset Management Co. Ltd. lifted its stake in shares of DTE Energy (NYSE:DTE) by 5.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,098 shares of the utilities provider’s stock after purchasing an additional 3,291 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in DTE Energy were worth $7,974,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Diversified Trust Co bought a new stake in DTE Energy during the second quarter valued at $279,000. Wealth Enhancement Advisory Services LLC raised its holdings in DTE Energy by 23.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 17,263 shares of the utilities provider’s stock worth $1,916,000 after purchasing an additional 3,273 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in DTE Energy by 4.6% in 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 during the period. Blue Trust Inc. boosted its position in shares of DTE Energy by 9.7% during the second quarter. Blue Trust Inc. now owns 1,995 shares of the utilities provider’s stock valued at $224,000 after purchasing an additional 176 shares in the last quarter. Finally, Gradient Investments LLC grew its position in shares of DTE Energy by 91.0% in the 2nd quarter. Gradient Investments LLC now owns 1,333 shares of the utilities provider’s stock worth $148,000 after buying an additional 635 shares during the period. 76.06% of the stock is currently owned by institutional investors.

DTE Energy Stock Down 0.2 %

DTE Energy stock opened at $120.78 on Friday. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62. DTE Energy has a 1-year low of $102.17 and a 1-year high of $131.66. The stock has a market cap of $25.01 billion, a PE ratio of 16.37, a P/E/G ratio of 2.24 and a beta of 0.68. The stock’s fifty day moving average is $123.96 and its two-hundred day moving average is $120.41.

DTE Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be paid a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a dividend yield of 3.61%. The ex-dividend date is Monday, December 16th. This is a boost from DTE Energy’s previous quarterly dividend of $1.02. DTE Energy’s dividend payout ratio is 59.08%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Scotiabank raised their price objective on shares of DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research note on Thursday. BMO Capital Markets lifted their price target on shares of DTE Energy from $135.00 to $140.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. UBS Group upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $129.00 to $143.00 in a research note 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 target on the stock. Finally, StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $134.31.

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.