Longboard Asset Management LP purchased a new position in DTE Energy (NYSE:DTE – Free Report) in the fourth quarter, Holdings Channel.com reports. The fund purchased 1,666 shares of the utilities provider’s stock, valued at approximately $201,000.
Other large investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its position in shares of DTE Energy by 2.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,588 shares of the utilities provider’s stock worth $461,000 after purchasing an additional 81 shares during the period. SkyOak Wealth LLC raised its stake in DTE Energy by 4.1% in the fourth quarter. SkyOak Wealth LLC now owns 2,174 shares of the utilities provider’s stock worth $262,000 after buying an additional 85 shares in the last quarter. Signaturefd LLC lifted its holdings in DTE Energy by 3.1% in the third quarter. Signaturefd LLC now owns 2,889 shares of the utilities provider’s stock worth $371,000 after buying an additional 86 shares during the period. Tidal Investments LLC boosted its position in DTE Energy by 4.0% during the 3rd quarter. Tidal Investments LLC now owns 2,490 shares of the utilities provider’s stock valued at $320,000 after acquiring an additional 96 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of DTE Energy by 1.4% during the 4th quarter. Fifth Third Bancorp now owns 7,441 shares of the utilities provider’s stock worth $899,000 after acquiring an additional 103 shares during the period. Institutional investors own 76.06% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on DTE shares. Wells Fargo & Company lifted their price target on DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Guggenheim raised shares of DTE Energy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. 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 report on Thursday, December 12th. Jefferies Financial Group started coverage on shares of DTE Energy in a report on Monday, October 21st. They issued a “hold” rating and a $137.00 price objective on the stock. Finally, UBS Group upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $129.00 to $143.00 in a report on Tuesday, December 3rd. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.25.
DTE Energy Stock Down 0.1 %
DTE stock opened at $120.75 on Wednesday. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62. DTE Energy has a 1-year low of $102.78 and a 1-year high of $131.66. The stock has a market capitalization of $25.01 billion, a P/E ratio of 16.36, a P/E/G ratio of 2.20 and a beta of 0.68. The business has a fifty day moving average price of $121.20 and a 200-day moving average price of $122.69.
DTE Energy Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were paid a dividend of $1.09 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $4.36 annualized dividend and a yield of 3.61%. This is a boost from DTE Energy’s previous quarterly dividend of $1.02. DTE Energy’s dividend payout ratio is currently 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.
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