Beach Investment Counsel Inc. PA Sells 6,003 Shares of DTE Energy (NYSE:DTE)

Beach Investment Counsel Inc. PA decreased its position in DTE Energy (NYSE:DTE) by 8.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 61,568 shares of the utilities provider’s stock after selling 6,003 shares during the period. DTE Energy comprises approximately 1.0% of Beach Investment Counsel Inc. PA’s portfolio, making the stock its 27th biggest holding. Beach Investment Counsel Inc. PA’s holdings in DTE Energy were worth $7,434,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in DTE. Sanctuary Advisors LLC bought a new position in shares of DTE Energy in the second quarter worth approximately $2,736,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of DTE Energy by 44.4% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,194 shares of the utilities provider’s stock worth $355,000 after purchasing an additional 982 shares during the last quarter. Czech National Bank grew its holdings in shares of DTE Energy by 6.9% in the third quarter. Czech National Bank now owns 42,172 shares of the utilities provider’s stock worth $5,415,000 after purchasing an additional 2,739 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of DTE Energy by 25.9% in the third quarter. GAMMA Investing LLC now owns 5,917 shares of the utilities provider’s stock worth $760,000 after purchasing an additional 1,216 shares during the last quarter. Finally, City Holding Co. grew its holdings in shares of DTE Energy by 1.7% in the third quarter. City Holding Co. now owns 7,357 shares of the utilities provider’s stock worth $945,000 after purchasing an additional 125 shares during the last quarter. Institutional investors own 76.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on DTE shares. Scotiabank raised their price target on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research note on Thursday, December 12th. BMO Capital Markets raised their price target on DTE Energy from $135.00 to $140.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Morgan Stanley dropped their price target on DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. KeyCorp lowered DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company raised their price target on DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $136.25.

DTE Energy Price Performance

Shares of NYSE:DTE opened at $119.48 on Tuesday. The firm’s 50 day moving average price is $121.29 and its 200-day moving average price is $122.66. DTE Energy has a twelve month low of $102.78 and a twelve month high of $131.66. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.76. The stock has a market capitalization of $24.74 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 2.20 and a beta of 0.68.

DTE Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were paid a dividend of $1.09 per share. This is a boost from DTE Energy’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Monday, December 16th. This represents a $4.36 dividend on an annualized basis and a yield of 3.65%. 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.