Rhumbline Advisers Decreases Position in DTE Energy Company $DTE

Rhumbline Advisers trimmed its position in DTE Energy Company (NYSE:DTE) by 4.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 358,901 shares of the utilities provider’s stock after selling 16,575 shares during the period. Rhumbline Advisers owned about 0.17% of DTE Energy worth $50,759,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of DTE Energy by 4.2% in the second quarter. Vanguard Group Inc. now owns 25,964,872 shares of the utilities provider’s stock worth $3,439,307,000 after acquiring an additional 1,042,589 shares during the last quarter. State Street Corp lifted its holdings in DTE Energy by 2.2% in the 2nd quarter. State Street Corp now owns 10,558,531 shares of the utilities provider’s stock valued at $1,409,833,000 after purchasing an additional 222,353 shares in the last quarter. Geode Capital Management LLC lifted its holdings in DTE Energy by 3.0% in the 2nd quarter. Geode Capital Management LLC now owns 5,250,341 shares of the utilities provider’s stock valued at $692,535,000 after purchasing an additional 154,594 shares in the last quarter. Invesco Ltd. boosted its stake in DTE Energy by 1.3% during the 2nd quarter. Invesco Ltd. now owns 2,387,012 shares of the utilities provider’s stock worth $316,184,000 after purchasing an additional 31,635 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of DTE Energy by 8.1% during the second quarter. Legal & General Group Plc now owns 1,407,682 shares of the utilities provider’s stock worth $186,462,000 after buying an additional 105,952 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Stock Up 2.8%

DTE stock opened at $144.87 on Friday. DTE Energy Company has a one year low of $123.69 and a one year high of $145.41. The firm has a market cap of $30.09 billion, a PE ratio of 21.75, a PEG ratio of 2.59 and a beta of 0.49. The firm’s 50 day moving average price is $132.57 and its 200-day moving average price is $136.13. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.68 and a current ratio of 1.15.

DTE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Monday, March 16th will be given a dividend of $1.165 per share. This represents a $4.66 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, March 16th. DTE Energy’s dividend payout ratio (DPR) is presently 69.97%.

Analyst Ratings Changes

A number of research firms recently weighed in on DTE. Mizuho boosted their price target on shares of DTE Energy from $140.00 to $144.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Weiss Ratings reissued a “buy (b-)” rating on shares of DTE Energy in a research note on Wednesday, January 21st. JPMorgan Chase & Co. lowered their target price on DTE Energy from $151.00 to $145.00 and set a “neutral” rating on the stock in a report on Thursday, December 11th. BMO Capital Markets cut their price target on DTE Energy from $151.00 to $148.00 and set a “market perform” rating for the company in a report on Wednesday, December 24th. Finally, Wells Fargo & Company reduced their price objective on DTE Energy from $157.00 to $152.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 20th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, DTE Energy currently has an average rating of “Moderate Buy” and an average target price of $147.69.

About DTE Energy

DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company’s utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.

Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.