Hennessy Advisors Inc. Has $6.44 Million Holdings in DTE Energy (NYSE:DTE)

Hennessy Advisors Inc. lifted its stake in DTE Energy (NYSE:DTE) by 2.7% during the 4th quarter, HoldingsChannel reports. The fund owned 53,304 shares of the utilities provider’s stock after buying an additional 1,400 shares during the period. Hennessy Advisors Inc.’s holdings in DTE Energy were worth $6,436,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mizuho Securities USA LLC raised its stake in shares of DTE Energy by 44,009.5% in the third 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 increased its holdings in DTE Energy by 7.0% in the 3rd quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock valued at $1,319,264,000 after buying an additional 662,569 shares during the period. Zimmer Partners LP acquired a new position in shares of DTE Energy in the 3rd quarter valued at $69,894,000. Point72 Asset Management L.P. bought a new position in shares of DTE Energy during the 3rd quarter worth about $66,733,000. Finally, Nordea Investment Management AB boosted its position in shares of DTE Energy by 2,235.2% during 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.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. BMO Capital Markets lifted their price objective on DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a report on Friday, October 18th. StockNews.com cut DTE Energy from a “hold” rating to a “sell” rating in a research report on Thursday. Barclays lifted their price objective on DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a report on Monday, October 7th. KeyCorp lowered shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Finally, Jefferies Financial Group initiated coverage on shares of DTE Energy in a report on Monday, October 21st. They set a “hold” rating and a $137.00 price target for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, DTE Energy has a consensus rating of “Moderate Buy” and a consensus target price of $134.31.

DTE Energy Price Performance

Shares of DTE stock opened at $123.69 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.76. DTE Energy has a 12 month low of $102.17 and a 12 month high of $131.66. The firm has a market cap of $25.62 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 2.05 and a beta of 0.68. The stock has a 50-day moving average price of $121.31 and a 200 day moving average price of $121.78.

DTE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were paid a $1.09 dividend. The ex-dividend date of this dividend was Monday, December 16th. 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 yield of 3.53%. DTE Energy’s dividend payout ratio (DPR) is presently 59.08%.

About DTE Energy

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.