Wealth Enhancement Advisory Services LLC Has $2.29 Million Position in DTE Energy (NYSE:DTE)

Wealth Enhancement Advisory Services LLC grew its holdings in DTE Energy (NYSE:DTE) by 0.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,800 shares of the utilities provider’s stock after purchasing an additional 143 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in DTE Energy were worth $2,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB increased its holdings in DTE Energy by 2,235.2% in the fourth quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider’s stock worth $26,706,000 after purchasing an additional 211,763 shares in the last quarter. Hancock Whitney Corp increased its stake in shares of DTE Energy by 80.0% in the 3rd quarter. Hancock Whitney Corp now owns 12,885 shares of the utilities provider’s stock valued at $1,655,000 after acquiring an additional 5,725 shares in the last quarter. Bank of Montreal Can lifted its position in shares of DTE Energy by 19.0% during the 2nd quarter. Bank of Montreal Can now owns 269,031 shares of the utilities provider’s stock valued at $30,220,000 after acquiring an additional 42,960 shares during the period. Point72 DIFC Ltd bought a new position in DTE Energy during the third quarter worth $650,000. Finally, Blueshift Asset Management LLC acquired a new stake in DTE Energy in the third quarter worth $583,000. 76.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. 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 report on Friday, October 25th. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. Morgan Stanley reduced their price objective on DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Jefferies Financial Group began coverage on DTE Energy in a research report on Monday, October 21st. They set a “hold” rating and a $137.00 target price on the stock. Finally, KeyCorp cut DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $134.31.

DTE Energy Stock Performance

Shares of DTE stock opened at $119.41 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. The firm has a 50-day moving average of $121.21 and a 200-day moving average of $121.78. DTE Energy has a one year low of $102.17 and a one year high of $131.66. The company has a market cap of $24.73 billion, a P/E ratio of 16.18, a P/E/G ratio of 2.23 and a beta of 0.68.

DTE Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be given a dividend of $1.09 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $4.36 annualized dividend and a dividend yield of 3.65%. This is a boost from DTE Energy’s previous quarterly dividend of $1.02. DTE Energy’s dividend payout ratio (DPR) is currently 55.28%.

DTE Energy Company 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.