WASHINGTON TRUST Co Purchases 300 Shares of DTE Energy (NYSE:DTE)

WASHINGTON TRUST Co increased its position in shares of DTE Energy (NYSE:DTE) by 60.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 800 shares of the utilities provider’s stock after acquiring an additional 300 shares during the quarter. WASHINGTON TRUST Co’s holdings in DTE Energy were worth $97,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of DTE. Legacy Investment Solutions LLC bought a new position in DTE Energy during the 3rd quarter worth approximately $30,000. Ashton Thomas Securities LLC bought a new position in DTE Energy during the 3rd quarter worth approximately $35,000. Prospera Private Wealth LLC bought a new position in DTE Energy during the 3rd quarter worth 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 acquiring an additional 267 shares during the last quarter. Finally, Coastline Trust Co bought a new position in DTE Energy in the third quarter valued at approximately $39,000. Institutional investors own 76.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Scotiabank lifted their price target on shares of DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research note on Thursday, December 12th. Wells Fargo & Company lifted their price target on shares of DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. StockNews.com lowered shares of DTE Energy from a “hold” rating to a “sell” rating in a research note on Thursday. UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Finally, Guggenheim raised shares of DTE Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $136.25.

DTE Energy Price Performance

Shares of DTE opened at $129.21 on Friday. The company has a market cap of $26.76 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 2.25 and a beta of 0.68. DTE Energy has a 1-year low of $103.06 and a 1-year high of $131.66. The company’s fifty day simple moving average is $121.24 and its 200 day simple moving average is $123.04. 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 (NYSE:DTE) last issued its earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. DTE Energy had a net margin of 12.33% and a return on equity of 13.42%. On average, research analysts forecast that DTE Energy will post 6.77 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be issued a dividend of $1.09 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $4.36 dividend on an annualized basis and a yield of 3.37%. DTE Energy’s payout ratio is 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.