Cyndeo Wealth Partners LLC Has $6.63 Million Stake in DTE Energy (NYSE:DTE)

Cyndeo Wealth Partners LLC grew its holdings in shares of DTE Energy (NYSE:DTE) by 5.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 54,937 shares of the utilities provider’s stock after purchasing an additional 2,969 shares during the period. Cyndeo Wealth Partners LLC’s holdings in DTE Energy were worth $6,634,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of DTE. Legacy Investment Solutions LLC acquired a new stake in shares of DTE Energy in the third quarter valued at about $30,000. Prospera Private Wealth LLC bought a new position in DTE Energy in the third quarter valued at approximately $35,000. Ashton Thomas Securities LLC acquired a new position in shares of DTE Energy during the 3rd quarter worth approximately $35,000. Versant Capital Management Inc raised its stake in shares of DTE Energy by 890.0% during the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 267 shares in the last quarter. Finally, Coastline Trust Co acquired a new stake in shares of DTE Energy in the 3rd quarter valued at approximately $39,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. 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. BMO Capital Markets boosted their price objective on shares of DTE Energy from $135.00 to $140.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. KeyCorp downgraded shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Barclays boosted their price target on DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, Scotiabank raised their price objective on DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research report on Thursday, December 12th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $136.25.

DTE Energy Stock Performance

NYSE:DTE opened at $119.07 on Friday. The stock has a 50 day simple moving average of $121.59 and a 200 day simple moving average of $122.30. The stock has a market cap of $24.66 billion, a P/E ratio of 16.13, a PEG ratio of 2.07 and a beta of 0.68. DTE Energy has a 1-year low of $102.50 and a 1-year high of $131.66. 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 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders 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 represents a $4.36 dividend on an annualized basis and a dividend yield of 3.66%. This is an increase from DTE Energy’s previous quarterly dividend of $1.02. DTE Energy’s dividend payout ratio (DPR) is currently 59.08%.

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.