Farmers Trust Co. Sells 93 Shares of DTE Energy (NYSE:DTE)

Farmers Trust Co. trimmed its position in DTE Energy (NYSE:DTE) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,216 shares of the utilities provider’s stock after selling 93 shares during the quarter. Farmers Trust Co.’s holdings in DTE Energy were worth $268,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new stake in DTE Energy in the 3rd quarter worth approximately $30,000. Ashton Thomas Securities LLC bought a new position in shares of DTE Energy in the third quarter worth $35,000. Prospera Private Wealth LLC purchased a new stake in shares of DTE Energy in the third quarter worth $35,000. Versant Capital Management Inc boosted its stake in 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 buying an additional 267 shares during the period. Finally, Coastline Trust Co purchased a new position in DTE Energy during the third quarter worth about $39,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. BMO Capital Markets lifted their price target on DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Barclays lifted their target price on shares of DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Wells Fargo & Company raised their price objective on shares of DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. KeyCorp lowered shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Finally, Jefferies Financial Group assumed coverage on DTE Energy in a research 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 issued a buy rating to the company. Based on data from MarketBeat.com, DTE Energy has an average rating of “Moderate Buy” and a consensus target price of $134.31.

DTE Energy Price Performance

Shares of DTE Energy stock opened at $121.06 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 one year low of $102.17 and a one year high of $131.66. The business’s 50 day simple moving average is $121.47 and its two-hundred day simple moving average is $121.48. The stock has a market capitalization of $25.07 billion, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 2.23 and a beta of 0.68.

DTE Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be paid a $1.09 dividend. This represents a $4.36 annualized dividend and a dividend yield of 3.60%. 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 payout ratio is presently 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.