Edgestream Partners L.P. Increases Stock Position in DTE Energy (NYSE:DTE)

Edgestream Partners L.P. increased its stake in shares of DTE Energy (NYSE:DTE) by 124.4% in the 3rd quarter, Holdings Channel reports. The firm owned 11,637 shares of the utilities provider’s stock after buying an additional 6,452 shares during the period. Edgestream Partners L.P.’s holdings in DTE Energy were worth $1,494,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DTE. Cetera Advisors LLC bought a new position in shares of DTE Energy during the 1st quarter valued at $708,000. Cetera Investment Advisers lifted its holdings in DTE Energy by 242.0% in the first quarter. Cetera Investment Advisers now owns 29,306 shares of the utilities provider’s stock valued at $3,286,000 after acquiring an additional 20,737 shares during the period. Bank of Montreal Can boosted its position in DTE Energy by 19.0% in the second quarter. Bank of Montreal Can now owns 269,031 shares of the utilities provider’s stock worth $30,220,000 after purchasing an additional 42,960 shares during the last quarter. Hancock Whitney Corp grew its stake in shares of 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 purchasing an additional 5,725 shares during the period. Finally, Blueshift Asset Management LLC purchased a new stake in shares of DTE Energy during the 3rd quarter valued at about $583,000. Institutional investors own 76.06% of the company’s stock.

DTE Energy Price Performance

Shares of NYSE:DTE opened at $122.95 on Wednesday. The firm has a market cap of $25.46 billion, a price-to-earnings ratio of 16.66, a P/E/G ratio of 2.28 and a beta of 0.68. The firm has a fifty day moving average price of $124.63 and a 200 day moving average price of $120.15. DTE Energy has a fifty-two week low of $102.17 and a fifty-two week high of $131.66. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.62 and a current ratio of 0.83.

DTE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be given a dividend of $1.09 per share. This is a positive change from DTE Energy’s previous quarterly dividend of $1.02. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.55%. DTE Energy’s dividend payout ratio (DPR) is presently 55.28%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on DTE shares. Bank of America raised their price objective on shares of DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Barclays boosted their price objective on shares of DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Morgan Stanley decreased their target price on DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Mizuho boosted their price target on DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Finally, Scotiabank raised their price objective on DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.29.

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.