Montecito Bank & Trust Has $396,000 Stake in DTE Energy (NYSE:DTE)

Montecito Bank & Trust reduced its stake in shares of DTE Energy (NYSE:DTE) by 11.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,279 shares of the utilities provider’s stock after selling 443 shares during the quarter. Montecito Bank & Trust’s holdings in DTE Energy were worth $396,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nordea Investment Management AB increased its position in shares of DTE Energy by 2,235.2% in the 4th quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider’s stock valued at $26,706,000 after buying an additional 211,763 shares in the last quarter. Hancock Whitney Corp increased its stake in DTE Energy by 80.0% during the 3rd quarter. Hancock Whitney Corp now owns 12,885 shares of the utilities provider’s stock worth $1,655,000 after purchasing an additional 5,725 shares in the last quarter. Bank of Montreal Can lifted its stake in DTE Energy by 19.0% in the second quarter. Bank of Montreal Can now owns 269,031 shares of the utilities provider’s stock valued at $30,220,000 after buying an additional 42,960 shares in the last quarter. Point72 DIFC Ltd bought a new position in DTE Energy in the third quarter valued at approximately $650,000. Finally, Blueshift Asset Management LLC acquired a new position in shares of DTE Energy in the third quarter valued at approximately $583,000. 76.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on DTE shares. Barclays raised their price objective on shares of DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. 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. Scotiabank upped their price objective on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. Morgan Stanley cut their target price on DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Finally, BMO Capital Markets upped their price target on DTE Energy from $135.00 to $140.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $136.25.

DTE Energy Stock Performance

Shares of DTE stock opened at $119.07 on Friday. The company has a fifty day moving average price of $121.61 and a two-hundred day moving average price of $122.23. DTE Energy has a one year low of $102.50 and a one year high of $131.66. The stock has a market cap of $24.66 billion, a P/E ratio of 16.13, a P/E/G ratio of 2.07 and a beta of 0.68. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were paid a $1.09 dividend. This is a positive change from DTE Energy’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Monday, December 16th. This represents a $4.36 annualized dividend and a yield of 3.66%. DTE Energy’s dividend 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.