Fulton Bank N.A. Has $1.68 Million Stock Position in DTE Energy (NYSE:DTE)

Fulton Bank N.A. lessened its stake in shares of DTE Energy (NYSE:DTE) by 7.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 13,923 shares of the utilities provider’s stock after selling 1,115 shares during the period. Fulton Bank N.A.’s holdings in DTE Energy were worth $1,681,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of DTE. Hancock Whitney Corp grew its position 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 acquiring an additional 5,725 shares during the last quarter. Bank of Montreal Can grew its holdings 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 worth $30,220,000 after purchasing an additional 42,960 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of DTE Energy in the third quarter valued at 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. boosted its position in DTE Energy by 3.5% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 907,345 shares of the utilities provider’s stock worth $116,512,000 after buying an additional 30,909 shares during the period. 76.06% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Stock Up 0.6 %

DTE Energy stock opened at $121.06 on Thursday. The company has a market capitalization of $25.07 billion, a PE ratio of 16.40, a PEG ratio of 2.23 and a beta of 0.68. DTE Energy has a 12-month low of $102.17 and a 12-month high of $131.66. The firm’s fifty day moving average is $121.47 and its 200 day moving average is $121.48. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.76.

DTE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be issued a dividend of $1.09 per share. The ex-dividend date is Monday, December 16th. This represents a $4.36 annualized dividend and a dividend yield of 3.60%. This is a positive change from DTE Energy’s previous quarterly dividend of $1.02. DTE Energy’s dividend payout ratio is currently 59.08%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th. KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Jefferies Financial Group initiated coverage on DTE Energy in a report on Monday, October 21st. They set a “hold” rating and a $137.00 target price on the stock. Scotiabank upped their price target 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. Finally, Barclays upped their target price on DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.