Pallas Capital Advisors LLC Increases Stake in DTE Energy (NYSE:DTE)

Pallas Capital Advisors LLC increased its stake in shares of DTE Energy (NYSE:DTE) by 4.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 29,534 shares of the utilities provider’s stock after purchasing an additional 1,211 shares during the period. Pallas Capital Advisors LLC’s holdings in DTE Energy were worth $3,566,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DTE. Nordea Investment Management AB grew 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 purchasing an additional 211,763 shares in the last quarter. Hancock Whitney Corp grew its holdings 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 buying an additional 5,725 shares in the last quarter. Bank of Montreal Can increased its stake in DTE Energy by 19.0% in 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 last quarter. Point72 DIFC Ltd purchased a new stake in shares of DTE Energy during the 3rd quarter worth approximately $650,000. Finally, Blueshift Asset Management LLC bought a new position in shares of DTE Energy during the 3rd quarter valued at approximately $583,000. Institutional investors own 76.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on DTE shares. UBS Group upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $129.00 to $143.00 in a report on Tuesday, December 3rd. Barclays lifted their target price on DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Scotiabank raised 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. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, KeyCorp lowered shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $134.31.

DTE Energy Stock Down 0.7 %

Shares of DTE traded down $0.86 during mid-day trading on Monday, hitting $118.16. The company’s stock had a trading volume of 710,389 shares, compared to its average volume of 849,281. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 1.76. The company’s 50-day moving average is $121.36 and its 200-day moving average is $121.68. DTE Energy has a 52-week low of $102.17 and a 52-week high of $131.66. The firm has a market capitalization of $24.47 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 2.23 and a beta of 0.68.

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 given a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Monday, December 16th. This is a boost from DTE Energy’s previous quarterly dividend of $1.02. DTE Energy’s dividend payout ratio (DPR) is 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.