Retirement Systems of Alabama Reduces Stock Holdings in DTE Energy (NYSE:DTE)

Retirement Systems of Alabama reduced its position in shares of DTE Energy (NYSE:DTE) by 0.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 45,302 shares of the utilities provider’s stock after selling 346 shares during the quarter. Retirement Systems of Alabama’s holdings in DTE Energy were worth $5,817,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Mizuho Securities USA LLC raised its position in DTE Energy by 44,009.5% in the third quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock worth $903,878,000 after acquiring an additional 7,023,042 shares during the period. State Street Corp lifted its position in DTE Energy by 7.0% during 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 in the last quarter. Zimmer Partners LP bought a new stake in DTE Energy during the third quarter valued at about $69,894,000. Point72 Asset Management L.P. purchased a new stake in DTE Energy in the third quarter worth about $66,733,000. Finally, National Bank of Canada FI raised its stake in shares of DTE Energy by 246.9% in the third quarter. National Bank of Canada FI now owns 282,553 shares of the utilities provider’s stock worth $36,282,000 after buying an additional 201,096 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Performance

NYSE DTE opened at $117.53 on Thursday. 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 business has a 50 day simple moving average of $123.40 and a two-hundred day simple moving average of $120.66. The stock has a market capitalization of $24.34 billion, a PE ratio of 15.93, a P/E/G ratio of 2.23 and a beta of 0.68.

DTE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be given a $1.09 dividend. This represents a $4.36 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend is Monday, December 16th. This is a boost from DTE Energy’s previous quarterly dividend of $1.02. DTE Energy’s payout ratio is currently 59.08%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Mizuho boosted their price objective on DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Jefferies Financial Group assumed coverage on shares of DTE Energy in a research note on Monday, October 21st. They issued a “hold” rating and a $137.00 price objective for the company. KeyCorp cut shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Scotiabank upped their target price on shares of DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a report on Thursday, December 12th. Finally, Wells Fargo & Company raised their price target on DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.