Tectonic Advisors LLC Purchases 220 Shares of DTE Energy (NYSE:DTE)

Tectonic Advisors LLC raised its position in DTE Energy (NYSE:DTE) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,466 shares of the utilities provider’s stock after acquiring an additional 220 shares during the quarter. Tectonic Advisors LLC’s holdings in DTE Energy were worth $660,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of DTE. Nordea Investment Management AB lifted its stake in DTE Energy by 2,235.2% in the 4th quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider’s stock valued at $26,706,000 after purchasing an additional 211,763 shares during the last quarter. Patton Albertson Miller Group LLC raised its stake in DTE Energy by 7.6% in the fourth quarter. Patton Albertson Miller Group LLC now owns 46,931 shares of the utilities provider’s stock valued at $5,667,000 after buying an additional 3,306 shares during the period. Hancock Whitney Corp lifted its position in shares of DTE Energy by 80.0% in the third quarter. Hancock Whitney Corp now owns 12,885 shares of the utilities provider’s stock valued at $1,655,000 after buying an additional 5,725 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of DTE Energy during the 3rd quarter worth approximately $650,000. Finally, Blueshift Asset Management LLC acquired a new position in shares of DTE Energy during the 3rd quarter worth approximately $583,000. Institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Performance

DTE opened at $122.63 on Thursday. 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 52-week low of $102.78 and a 52-week high of $131.66. The firm has a market cap of $25.40 billion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 2.20 and a beta of 0.68. The business’s fifty day moving average is $121.11 and its 200-day moving average is $122.72.

DTE Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were issued a $1.09 dividend. This is a positive change from DTE Energy’s previous quarterly dividend of $1.02. This represents a $4.36 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend was Monday, December 16th. DTE Energy’s dividend payout ratio (DPR) is currently 59.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on DTE shares. Morgan Stanley cut their price target on DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Jefferies Financial Group assumed coverage on shares of DTE Energy in a research note on Monday, October 21st. They set a “hold” rating and a $137.00 target price for the company. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 24th. Scotiabank raised their price objective on shares of DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. Finally, UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $129.00 to $143.00 in a report on Tuesday, December 3rd. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $136.25.

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.