Fifth Third Bancorp Grows Stock Position in DTE Energy (NYSE:DTE)

Fifth Third Bancorp boosted its holdings in DTE Energy (NYSE:DTE) by 3.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,705 shares of the utilities provider’s stock after buying an additional 264 shares during the period. Fifth Third Bancorp’s holdings in DTE Energy were worth $1,065,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital World Investors boosted its holdings in DTE Energy by 123.2% in the fourth quarter. Capital World Investors now owns 6,823,231 shares of the utilities provider’s stock valued at $823,905,000 after acquiring an additional 3,766,221 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of DTE Energy by 14,878.4% in the 1st quarter. GAMMA Investing LLC now owns 1,183,591 shares of the utilities provider’s stock worth $163,655,000 after purchasing an additional 1,175,689 shares during the period. Vanguard Group Inc. raised its holdings in shares of DTE Energy by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 25,286,380 shares of the utilities provider’s stock worth $3,053,330,000 after purchasing an additional 879,670 shares during the period. Balyasny Asset Management L.P. lifted its stake in shares of DTE Energy by 1,794.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 920,569 shares of the utilities provider’s stock valued at $111,159,000 after purchasing an additional 871,978 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of DTE Energy by 750.0% during the 4th quarter. AQR Capital Management LLC now owns 964,655 shares of the utilities provider’s stock worth $116,482,000 after purchasing an additional 851,169 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Analyst Ratings Changes

DTE has been the topic of several research reports. Barclays lowered shares of DTE Energy from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $137.00 to $135.00 in a report on Thursday, February 20th. Guggenheim raised their target price on shares of DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a research note on Friday, March 21st. Wells Fargo & Company lifted their target price on shares of DTE Energy from $145.00 to $154.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Wall Street Zen lowered DTE Energy from a “hold” rating to a “sell” rating in a research report on Friday, May 16th. Finally, BMO Capital Markets boosted their price objective on DTE Energy from $135.00 to $142.00 and gave the stock a “market perform” rating in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $140.93.

DTE Energy Stock Down 1.6%

Shares of NYSE:DTE opened at $133.12 on Tuesday. The firm has a market cap of $27.62 billion, a PE ratio of 19.66, a price-to-earnings-growth ratio of 2.41 and a beta of 0.45. The company has a fifty day simple moving average of $134.89 and a 200 day simple moving average of $129.28. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77. DTE Energy has a 12-month low of $108.40 and a 12-month high of $140.39.

DTE Energy (NYSE:DTE) last released its earnings results on Thursday, May 1st. The utilities provider reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.12. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. The company had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the previous year, the firm earned $1.67 EPS. On average, equities research analysts anticipate that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be issued a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend is Monday, June 16th. DTE Energy’s dividend payout ratio is presently 58.92%.

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.