Perigon Wealth Management LLC Raises Stock Holdings in DTE Energy (NYSE:DTE)

Perigon Wealth Management LLC grew its stake in shares of DTE Energy (NYSE:DTE) by 15.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,912 shares of the utilities provider’s stock after acquiring an additional 1,429 shares during the quarter. Perigon Wealth Management LLC’s holdings in DTE Energy were worth $1,342,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new position in DTE Energy during the third quarter valued at approximately $30,000. Ashton Thomas Securities LLC bought a new position in shares of DTE Energy during the 3rd quarter valued at $35,000. Prospera Private Wealth LLC bought a new position in shares of DTE Energy during the 3rd quarter valued at $35,000. Versant Capital Management Inc boosted its stake in shares of DTE Energy by 890.0% in the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock worth $36,000 after buying an additional 267 shares during the last quarter. Finally, Coastline Trust Co bought a new stake in shares of DTE Energy in the third quarter worth $39,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Barclays raised their target price on DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $129.00 to $143.00 in a report on Tuesday, December 3rd. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, January 24th. Guggenheim upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group began coverage on DTE Energy in a research note on Monday, October 21st. They issued a “hold” rating and a $137.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.25.

DTE Energy Price Performance

DTE stock opened at $119.30 on Friday. The company has a market capitalization of $24.71 billion, a PE ratio of 16.16, a price-to-earnings-growth ratio of 2.07 and a beta of 0.68. The company’s fifty day moving average price is $121.47 and its 200-day moving average price is $122.54. 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 one year low of $102.78 and a one year high of $131.66.

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. 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 dividend yield of 3.65%. The ex-dividend date of this dividend was Monday, December 16th. 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.