Procyon Advisors LLC Boosts Position in DTE Energy (NYSE:DTE)

Procyon Advisors LLC boosted its stake in shares of DTE Energy (NYSE:DTE) by 5.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,498 shares of the utilities provider’s stock after buying an additional 614 shares during the quarter. Procyon Advisors LLC’s holdings in DTE Energy were worth $1,388,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its stake in DTE Energy by 2.3% in the third quarter. Farther Finance Advisors LLC now owns 3,588 shares of the utilities provider’s stock valued at $461,000 after buying an additional 81 shares during the last quarter. Signaturefd LLC increased its holdings in shares of DTE Energy by 3.1% during the third quarter. Signaturefd LLC now owns 2,889 shares of the utilities provider’s stock valued at $371,000 after acquiring an additional 86 shares in the last quarter. Tidal Investments LLC raised its position in shares of DTE Energy by 4.0% in the 3rd quarter. Tidal Investments LLC now owns 2,490 shares of the utilities provider’s stock valued at $320,000 after purchasing an additional 96 shares during the last quarter. ASB Consultores LLC boosted its stake in DTE Energy by 4.9% in the 2nd quarter. ASB Consultores LLC now owns 2,179 shares of the utilities provider’s stock worth $242,000 after purchasing an additional 101 shares in the last quarter. Finally, Centennial Wealth Advisory LLC boosted its stake in DTE Energy by 2.1% in the 3rd quarter. Centennial Wealth Advisory LLC now owns 5,338 shares of the utilities provider’s stock worth $685,000 after purchasing an additional 110 shares in the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DTE has been the topic of a number of recent analyst reports. Morgan Stanley cut their price target on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Jefferies Financial Group started coverage on DTE Energy in a research report on Monday, October 21st. They issued a “hold” rating and a $137.00 target price on the stock. BMO Capital Markets lifted their price target on DTE Energy from $135.00 to $140.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Barclays increased their price objective on DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $129.00 to $143.00 in a research note on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $134.31.

DTE Energy Trading Up 0.6 %

Shares of NYSE:DTE opened at $123.69 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 1.76. DTE Energy has a 12-month low of $102.17 and a 12-month high of $131.66. The business has a 50 day moving average of $121.31 and a two-hundred day moving average of $121.78. The company has a market capitalization of $25.62 billion, a PE ratio of 16.76, a PEG ratio of 2.05 and a beta of 0.68.

DTE Energy Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Monday, December 16th. This is an increase from DTE Energy’s previous quarterly dividend of $1.02. This represents a $4.36 dividend on an annualized basis and a yield of 3.53%. DTE Energy’s dividend payout ratio is 59.08%.

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.