New York State Common Retirement Fund Has $14.56 Million Stock Position in DTE Energy Company $DTE

New York State Common Retirement Fund trimmed its stake in DTE Energy Company (NYSE:DTE) by 20.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 102,915 shares of the utilities provider’s stock after selling 27,200 shares during the period. New York State Common Retirement Fund’s holdings in DTE Energy were worth $14,555,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. raised its position in shares of DTE Energy by 14.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,749 shares of the utilities provider’s stock worth $3,925,000 after acquiring an additional 3,458 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of DTE Energy by 0.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,278,895 shares of the utilities provider’s stock worth $180,874,000 after purchasing an additional 7,159 shares during the period. Federated Hermes Inc. boosted its stake in shares of DTE Energy by 3.8% in the 3rd quarter. Federated Hermes Inc. now owns 44,837 shares of the utilities provider’s stock valued at $6,341,000 after purchasing an additional 1,645 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of DTE Energy by 1.2% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 27,516 shares of the utilities provider’s stock worth $3,895,000 after buying an additional 320 shares during the period. Finally, Commerzbank Aktiengesellschaft FI raised its stake in DTE Energy by 536.4% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 11,163 shares of the utilities provider’s stock worth $1,579,000 after buying an additional 9,409 shares during the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on DTE. Bank of America upped their price target on shares of DTE Energy from $153.00 to $154.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of DTE Energy in a research note on Wednesday, January 21st. BMO Capital Markets decreased their target price on DTE Energy from $151.00 to $148.00 and set a “market perform” rating for the company in a research note on Wednesday, December 24th. Mizuho lifted their target price on DTE Energy from $140.00 to $144.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Finally, Wall Street Zen upgraded DTE Energy from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $147.69.

DTE Energy Stock Performance

Shares of DTE opened at $132.90 on Tuesday. The firm has a market capitalization of $27.60 billion, a P/E ratio of 19.96, a P/E/G ratio of 2.47 and a beta of 0.49. DTE Energy Company has a 52 week low of $118.20 and a 52 week high of $143.79. The stock has a 50 day moving average price of $131.92 and a two-hundred day moving average price of $136.13. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.68 and a current ratio of 1.15.

DTE Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Monday, December 15th were given a $1.165 dividend. This represents a $4.66 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Monday, December 15th. This is an increase from DTE Energy’s previous quarterly dividend of $1.09. DTE Energy’s payout ratio is currently 69.97%.

DTE Energy Profile

DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company’s utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.

Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.