Woodline Partners LP Buys New Position in DTE Energy (NYSE:DTE)

Woodline Partners LP bought a new stake in DTE Energy (NYSE:DTE) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 12,437 shares of the utilities provider’s stock, valued at approximately $1,502,000.

A number of other institutional investors and hedge funds have also bought and sold shares of DTE. Capital World Investors raised its stake in shares of DTE Energy by 123.2% during the fourth quarter. Capital World Investors now owns 6,823,231 shares of the utilities provider’s stock worth $823,905,000 after acquiring an additional 3,766,221 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of DTE Energy by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 25,286,380 shares of the utilities provider’s stock worth $3,053,330,000 after acquiring an additional 879,670 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in shares of DTE Energy by 1,794.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 920,569 shares of the utilities provider’s stock worth $111,159,000 after acquiring an additional 871,978 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of DTE Energy by 750.0% during the fourth quarter. AQR Capital Management LLC now owns 964,655 shares of the utilities provider’s stock worth $116,482,000 after acquiring an additional 851,169 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of DTE Energy by 50.2% during the fourth quarter. Invesco Ltd. now owns 2,462,592 shares of the utilities provider’s stock worth $297,358,000 after acquiring an additional 822,854 shares in the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Trading Up 1.3%

Shares of NYSE:DTE opened at $136.41 on Monday. The stock has a 50 day moving average of $134.80 and a 200 day moving average of $127.85. The company has a market cap of $28.31 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 2.41 and a beta of 0.47. 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 announced its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.12. The company had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.33 billion. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. During the same period in the previous year, the company posted $1.67 EPS. As a group, equities research analysts expect that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be paid a $1.09 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.36 annualized dividend and a yield of 3.20%. DTE Energy’s payout ratio is 58.92%.

Wall Street Analysts Forecast Growth

DTE has been the topic of several recent analyst reports. Barclays cut shares of DTE Energy from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $137.00 to $135.00 in a report on Thursday, February 20th. Morgan Stanley cut their target price on shares of DTE Energy from $136.00 to $134.00 and set an “overweight” rating on the stock in a report on Thursday. Wells Fargo & Company raised their target price on shares of DTE Energy from $145.00 to $154.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Evercore ISI raised their target price on shares of DTE Energy from $136.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Finally, Citigroup raised their target price on shares of DTE Energy from $142.00 to $151.00 and gave the stock a “buy” rating in a report on Friday. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, DTE Energy currently has an average rating of “Moderate Buy” and a consensus price target of $140.93.

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.