Peddock Capital Advisors LLC Increases Stock Holdings in DTE Energy (NYSE:DTE)

Peddock Capital Advisors LLC raised its stake in shares of DTE Energy (NYSE:DTE) by 2.0% during the fourth quarter, Holdings Channel reports. The firm owned 8,462 shares of the utilities provider’s stock after buying an additional 167 shares during the quarter. Peddock Capital Advisors LLC’s holdings in DTE Energy were worth $1,022,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB increased its position in shares of DTE Energy by 2,235.2% during the fourth quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider’s stock valued at $26,706,000 after buying an additional 211,763 shares during the period. Hancock Whitney Corp boosted its position in DTE Energy by 80.0% during 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 grew its holdings 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 worth $30,220,000 after acquiring an additional 42,960 shares during the period. Point72 DIFC Ltd bought a new position in shares of DTE Energy in the 3rd quarter worth approximately $650,000. Finally, Blueshift Asset Management LLC purchased a new position in shares of DTE Energy in the 3rd quarter valued at approximately $583,000. 76.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DTE has been the subject of a number of research reports. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th. UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $129.00 to $143.00 in a research report on Tuesday, December 3rd. BMO Capital Markets upped their price objective on shares of DTE Energy from $135.00 to $140.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Morgan Stanley decreased their target price on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Finally, Scotiabank boosted their price target on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, DTE Energy has a consensus rating of “Moderate Buy” and an average price target of $134.31.

DTE Energy Stock Performance

Shares of NYSE DTE traded down $0.86 during trading on Monday, reaching $118.16. 710,465 shares of the company traded hands, compared to its average volume of 849,281. The firm has a 50 day simple moving average of $121.36 and a 200-day simple moving average of $121.68. DTE Energy has a 52-week low of $102.17 and a 52-week high of $131.66. The stock has a market capitalization of $24.47 billion, a PE ratio of 16.01, a P/E/G ratio of 2.23 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be paid a dividend of $1.09 per share. The ex-dividend date of this dividend is Monday, December 16th. This is a positive change from DTE Energy’s previous quarterly dividend of $1.02. This represents a $4.36 dividend on an annualized basis and a yield of 3.69%. DTE Energy’s payout ratio is currently 55.28%.

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.