Wealth Enhancement Advisory Services LLC Purchases 27,601 Shares of DTE Energy (NYSE:DTE)

Wealth Enhancement Advisory Services LLC increased its position in shares of DTE Energy (NYSE:DTE) by 156.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 45,258 shares of the utilities provider’s stock after acquiring an additional 27,601 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in DTE Energy were worth $5,465,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DTE. SkyOak Wealth LLC boosted its stake in shares of DTE Energy by 4.1% in the 4th quarter. SkyOak Wealth LLC now owns 2,174 shares of the utilities provider’s stock valued at $262,000 after purchasing an additional 85 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in DTE Energy by 8.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,205 shares of the utilities provider’s stock valued at $146,000 after buying an additional 90 shares during the last quarter. Stratos Wealth Partners LTD. raised its holdings in DTE Energy by 4.5% during the 4th quarter. Stratos Wealth Partners LTD. now owns 2,139 shares of the utilities provider’s stock valued at $258,000 after buying an additional 92 shares during the last quarter. Bleakley Financial Group LLC raised its holdings in DTE Energy by 2.3% during the 4th quarter. Bleakley Financial Group LLC now owns 4,345 shares of the utilities provider’s stock valued at $525,000 after buying an additional 96 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. raised its holdings in DTE Energy by 0.4% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 27,281 shares of the utilities provider’s stock valued at $3,294,000 after buying an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on DTE shares. Citigroup reiterated a “buy” rating and set a $151.00 price target (up from $142.00) on shares of DTE Energy in a report on Friday, May 23rd. Morgan Stanley decreased their price objective on shares of DTE Energy from $136.00 to $134.00 and set an “overweight” rating for the company in a report on Thursday, May 22nd. Wells Fargo & Company upped their price objective on shares of DTE Energy from $145.00 to $154.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Guggenheim increased their price target on shares of DTE Energy from $139.00 to $147.00 and gave the stock a “buy” rating in a research note on Friday, March 21st. Finally, Barclays lowered shares of DTE Energy from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $137.00 to $135.00 in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.93.

DTE Energy Trading Down 0.4%

Shares of DTE stock opened at $136.05 on Tuesday. DTE Energy has a 52-week low of $108.40 and a 52-week high of $140.39. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71. The firm has a market capitalization of $28.23 billion, a PE ratio of 20.10, a PEG ratio of 2.41 and a beta of 0.47. The stock has a fifty day simple moving average of $134.81 and a two-hundred day simple moving average of $128.56.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.12. The business had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.33 billion. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. During the same quarter in the prior year, the business posted $1.67 EPS. On average, analysts predict that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be given a dividend of $1.09 per share. The ex-dividend date is Monday, June 16th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.20%. DTE Energy’s payout ratio is 58.92%.

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.