JPMorgan Chase & Co. Sells 164,998 Shares of DTE Energy (NYSE:DTE)

JPMorgan Chase & Co. lessened its stake in shares of DTE Energy (NYSE:DTE) by 9.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,653,699 shares of the utilities provider’s stock after selling 164,998 shares during the period. JPMorgan Chase & Co.’s holdings in DTE Energy were worth $212,352,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Hancock Whitney Corp boosted its stake in DTE Energy by 80.0% in 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 increased its position in shares of DTE Energy by 19.0% during the second quarter. Bank of Montreal Can now owns 269,031 shares of the utilities provider’s stock valued at $30,220,000 after acquiring an additional 42,960 shares in the last quarter. Point72 DIFC Ltd purchased a new position in DTE Energy in the 3rd quarter worth approximately $650,000. Blueshift Asset Management LLC bought a new position in DTE Energy in the 3rd quarter valued at approximately $583,000. Finally, Duff & Phelps Investment Management Co. increased its holdings in shares of DTE Energy by 3.5% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 907,345 shares of the utilities provider’s stock worth $116,512,000 after purchasing an additional 30,909 shares in the last quarter. 76.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Scotiabank increased their price objective on DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research report on Thursday, December 12th. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th. Morgan Stanley lowered their price objective on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Mizuho lifted their target price on shares of DTE Energy from $121.00 to $133.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Finally, Jefferies Financial Group began coverage on DTE Energy in a report on Monday, October 21st. They set a “hold” rating and a $137.00 price target on the stock. Seven 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 stock has a consensus rating of “Moderate Buy” and a consensus price target of $134.31.

DTE Energy Trading Down 0.7 %

Shares of NYSE:DTE opened at $120.55 on Tuesday. DTE Energy has a 12-month low of $102.17 and a 12-month high of $131.66. The company has a market cap of $24.97 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 2.23 and a beta of 0.68. The stock has a 50 day moving average of $122.35 and a 200 day moving average of $121.07. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 1.76.

DTE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be given a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a dividend yield of 3.62%. This is an increase from DTE Energy’s previous quarterly dividend of $1.02. The ex-dividend date is Monday, December 16th. DTE Energy’s dividend payout ratio (DPR) is presently 59.08%.

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.