DTE Energy (NYSE:DTE) Shares Acquired by Old North State Wealth Management LLC

Old North State Wealth Management LLC grew its holdings in DTE Energy (NYSE:DTE) by 17.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,229 shares of the utilities provider’s stock after buying an additional 478 shares during the quarter. Old North State Wealth Management LLC’s holdings in DTE Energy were worth $391,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Avitas Wealth Management LLC boosted its holdings in DTE Energy by 0.6% in the 4th quarter. Avitas Wealth Management LLC now owns 23,972 shares of the utilities provider’s stock worth $2,895,000 after buying an additional 138 shares during the last quarter. Robbins Farley purchased a new position in shares of DTE Energy in the fourth quarter valued at approximately $57,000. Longboard Asset Management LP acquired a new stake in shares of DTE Energy in the fourth quarter worth approximately $201,000. abrdn plc increased its position in shares of DTE Energy by 13.9% during the fourth quarter. abrdn plc now owns 86,965 shares of the utilities provider’s stock worth $10,444,000 after purchasing an additional 10,604 shares in the last quarter. Finally, Leisure Capital Management raised its stake in DTE Energy by 3.1% in the 4th quarter. Leisure Capital Management now owns 8,451 shares of the utilities provider’s stock valued at $1,020,000 after purchasing an additional 255 shares during the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Wells Fargo & Company upped their price objective on shares of DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Guggenheim raised shares of DTE Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Scotiabank upped their price target on DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research report on Thursday, December 12th. Finally, StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 24th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $136.25.

DTE Energy Stock Down 0.1 %

NYSE:DTE opened at $120.75 on Wednesday. DTE Energy has a 52 week low of $102.78 and a 52 week high of $131.66. The stock’s fifty day moving average is $121.20 and its two-hundred day moving average is $122.69. The stock has a market capitalization of $25.01 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 2.20 and a beta of 0.68. 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 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 16th were issued a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 3.61%. This is a boost from DTE Energy’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Monday, December 16th. DTE Energy’s dividend payout ratio (DPR) is 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.