Longboard Asset Management LP Invests $201,000 in DTE Energy (NYSE:DTE)

Longboard Asset Management LP acquired a new stake in shares of DTE Energy (NYSE:DTE) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,666 shares of the utilities provider’s stock, valued at approximately $201,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of DTE. Mizuho Securities USA LLC grew its position in shares of DTE Energy by 44,009.5% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock valued at $903,878,000 after purchasing an additional 7,023,042 shares in the last quarter. State Street Corp grew its position in DTE Energy by 7.0% during the third quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock worth $1,319,264,000 after buying an additional 662,569 shares in the last quarter. Zimmer Partners LP bought a new position in DTE Energy in the 3rd quarter worth about $69,894,000. Point72 Asset Management L.P. bought a new position in DTE Energy in the 3rd quarter worth about $66,733,000. Finally, Nordea Investment Management AB raised its holdings in shares of DTE Energy by 2,235.2% in the 4th quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider’s stock valued at $26,706,000 after acquiring an additional 211,763 shares in the last quarter. Institutional investors own 76.06% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Scotiabank upped 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. Guggenheim upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Morgan Stanley dropped their price objective on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. UBS Group raised DTE Energy from a “neutral” rating to a “buy” rating and increased their target price for the company from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Finally, BMO Capital Markets lifted 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. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $136.25.

DTE Energy Stock Performance

NYSE:DTE opened at $120.75 on Wednesday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.62 and a current ratio of 0.83. DTE Energy has a fifty-two week low of $102.78 and a fifty-two week high of $131.66. The firm has a market cap of $25.01 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 2.20 and a beta of 0.68. The business has a 50 day moving average price of $121.20 and a 200-day moving average price of $122.69.

DTE Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were issued a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Monday, December 16th. This is a positive change from DTE Energy’s previous quarterly dividend of $1.02. DTE Energy’s dividend payout ratio (DPR) is 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.