Confluence Wealth Services Inc. Buys 159 Shares of DTE Energy (NYSE:DTE)

Confluence Wealth Services Inc. boosted its position in shares of DTE Energy (NYSE:DTE) by 5.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,928 shares of the utilities provider’s stock after acquiring an additional 159 shares during the period. Confluence Wealth Services Inc.’s holdings in DTE Energy were worth $350,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in shares of DTE Energy in the third quarter worth $30,000. Prospera Private Wealth LLC purchased a new stake in DTE Energy in the 3rd quarter worth $35,000. Ashton Thomas Securities LLC bought a new stake in DTE Energy during the third quarter valued at about $35,000. Versant Capital Management Inc raised its holdings in DTE Energy by 890.0% during the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 267 shares during the period. Finally, Coastline Trust Co purchased a new position in shares of DTE Energy in the third quarter valued at about $39,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Trading Up 1.6 %

Shares of NYSE DTE opened at $122.63 on Thursday. DTE Energy has a 1-year low of $102.78 and a 1-year high of $131.66. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62. The business’s 50 day moving average is $121.11 and its two-hundred day moving average is $122.72. The stock has a market capitalization of $25.40 billion, a P/E ratio of 16.62, a PEG ratio of 2.20 and a beta of 0.68.

DTE Energy Increases Dividend

The business 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. This represents a $4.36 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend was Monday, December 16th. This is a positive change from DTE Energy’s previous quarterly dividend of $1.02. DTE Energy’s dividend payout ratio is presently 59.08%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DTE. Jefferies Financial Group started coverage on DTE Energy in a research note on Monday, October 21st. They set a “hold” rating and a $137.00 target price on the stock. Guggenheim upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. BMO Capital Markets upped their target price on shares of DTE Energy from $135.00 to $140.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. KeyCorp downgraded shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Finally, UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $129.00 to $143.00 in a report on Tuesday, December 3rd. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $136.25.

About DTE Energy

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.