Jennison Associates LLC Sells 206,998 Shares of DTE Energy (NYSE:DTE)

Jennison Associates LLC trimmed its position in shares of DTE Energy (NYSE:DTE) by 27.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 551,305 shares of the utilities provider’s stock after selling 206,998 shares during the period. Jennison Associates LLC’s holdings in DTE Energy were worth $66,570,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of DTE. Legacy Investment Solutions LLC acquired a new position in shares of DTE Energy in the third quarter valued at about $30,000. Ashton Thomas Securities LLC acquired a new position in DTE Energy during the third quarter worth $35,000. Prospera Private Wealth LLC purchased a new position in shares of DTE Energy in the third quarter valued at approximately $35,000. Versant Capital Management Inc boosted its stake in DTE Energy by 890.0% during the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 267 shares during the last quarter. Finally, Coastline Trust Co purchased a new position in DTE Energy in the 3rd quarter worth approximately $39,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on DTE shares. BMO Capital Markets lifted their price target on shares of DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Guggenheim raised shares of DTE Energy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Wells Fargo & Company boosted their price objective on shares of DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Scotiabank raised their price objective on shares of DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. Finally, StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, January 24th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $136.25.

DTE Energy Price Performance

DTE stock opened at $120.94 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 1.76. DTE Energy has a 12-month low of $102.78 and a 12-month high of $131.66. The stock has a 50-day moving average price of $121.29 and a two-hundred day moving average price of $122.66. The company has a market cap of $25.05 billion, a PE ratio of 16.39, 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. Stockholders of record on Monday, December 16th were given a dividend of $1.09 per share. This is a boost from DTE Energy’s previous quarterly dividend of $1.02. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend was 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.