DTE Energy (NYSE:DTE) Shares Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. grew its position in shares of DTE Energy (NYSE:DTE) by 100.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,822 shares of the utilities provider’s stock after purchasing an additional 15,412 shares during the period. Pacer Advisors Inc.’s holdings in DTE Energy were worth $3,722,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. KBC Group NV grew its stake in DTE Energy by 20.6% in the 4th quarter. KBC Group NV now owns 19,426 shares of the utilities provider’s stock worth $2,346,000 after acquiring an additional 3,320 shares during the period. Capital Asset Advisory Services LLC boosted its holdings in shares of DTE Energy by 14.5% during the fourth quarter. Capital Asset Advisory Services LLC now owns 4,212 shares of the utilities provider’s stock worth $512,000 after purchasing an additional 532 shares during the last quarter. Blue Trust Inc. grew its position in shares of DTE Energy by 3.6% in the fourth quarter. Blue Trust Inc. now owns 3,150 shares of the utilities provider’s stock valued at $404,000 after purchasing an additional 108 shares during the period. Patton Albertson Miller Group LLC increased 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 purchasing an additional 3,306 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC lifted its position in DTE Energy by 5.7% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 54,937 shares of the utilities provider’s stock worth $6,634,000 after buying an additional 2,969 shares during the period. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

DTE Energy Price Performance

Shares of NYSE DTE opened at $119.30 on Friday. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62. DTE Energy has a 1-year low of $102.78 and a 1-year high of $131.66. The company has a market capitalization of $24.71 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 2.07 and a beta of 0.68. The business has a 50-day moving average of $121.47 and a 200-day moving average of $122.54.

DTE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were given a $1.09 dividend. This is an increase from DTE Energy’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Monday, December 16th. This represents a $4.36 annualized dividend and a yield of 3.65%. DTE Energy’s dividend payout ratio (DPR) is 59.08%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Wells Fargo & Company lifted their price target on DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a report on Friday, October 25th. UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $129.00 to $143.00 in a research report on Tuesday, December 3rd. Morgan Stanley decreased their price target on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Jefferies Financial Group assumed coverage on DTE Energy in a report on Monday, October 21st. They set a “hold” rating and a $137.00 price objective for the company. Finally, Scotiabank lifted their target price on DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a report on Thursday, December 12th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $136.25.

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.