Cyndeo Wealth Partners LLC grew its stake in shares of DTE Energy (NYSE:DTE - Free Report) by 8.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,452 shares of the utilities provider's stock after purchasing an additional 4,515 shares during the quarter. Cyndeo Wealth Partners LLC's holdings in DTE Energy were worth $8,220,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the stock. Empowered Funds LLC increased its position in DTE Energy by 8.8% in the 4th quarter. Empowered Funds LLC now owns 3,295 shares of the utilities provider's stock valued at $398,000 after acquiring an additional 267 shares during the period. New York State Teachers Retirement System boosted its stake in DTE Energy by 0.6% during the 4th quarter. New York State Teachers Retirement System now owns 201,714 shares of the utilities provider's stock valued at $24,357,000 after purchasing an additional 1,179 shares in the last quarter. WASHINGTON TRUST Co increased its position in shares of DTE Energy by 60.0% during the 4th quarter. WASHINGTON TRUST Co now owns 800 shares of the utilities provider's stock valued at $97,000 after purchasing an additional 300 shares during the period. Principal Securities Inc. raised its stake in shares of DTE Energy by 25.3% in the 4th quarter. Principal Securities Inc. now owns 2,236 shares of the utilities provider's stock worth $270,000 after buying an additional 452 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of DTE Energy by 16.0% in the fourth quarter. Allworth Financial LP now owns 2,438 shares of the utilities provider's stock valued at $293,000 after buying an additional 336 shares during the period. Institutional investors own 76.06% of the company's stock.
DTE Energy Stock Down 1.6%
Shares of DTE Energy stock traded down $2.10 during midday trading on Monday, reaching $133.12. 1,532,561 shares of the company's stock traded hands, compared to its average volume of 1,260,869. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71. DTE Energy has a 52 week low of $108.40 and a 52 week high of $140.39. The company's 50 day simple moving average is $134.77 and its 200 day simple moving average is $129.23. The company has a market cap of $27.62 billion, a price-to-earnings ratio of 19.66, a price-to-earnings-growth ratio of 2.41 and a beta of 0.45.
DTE Energy (NYSE:DTE - Get Free Report) last posted its earnings results on Thursday, May 1st. The utilities provider reported $2.10 EPS for the quarter, topping the consensus estimate of $1.98 by $0.12. The firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.33 billion. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. During the same period in the prior year, the business posted $1.67 earnings per share. Equities analysts expect that DTE Energy will post 7.18 earnings per share for the current fiscal year.
DTE Energy Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be given a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Monday, June 16th. DTE Energy's dividend payout ratio is 58.92%.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the company. Morgan Stanley lowered their target price on DTE Energy from $136.00 to $134.00 and set an "overweight" rating on the stock in a report on Thursday, May 22nd. Barclays downgraded DTE Energy from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $137.00 to $135.00 in a report on Thursday, February 20th. Wall Street Zen cut DTE Energy from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. Citigroup reaffirmed a "buy" rating and issued a $151.00 price objective (up previously from $142.00) on shares of DTE Energy in a research note on Friday, May 23rd. Finally, BMO Capital Markets boosted their target price on shares of DTE Energy from $135.00 to $142.00 and gave the company a "market perform" rating in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $140.93.
Get Our Latest Research Report on DTE
About DTE Energy
(
Free Report)
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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