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

Edgestream Partners L.P. grew its stake in shares of DTE Energy (NYSE:DTE) by 124.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,637 shares of the utilities provider’s stock after purchasing an additional 6,452 shares during the quarter. Edgestream Partners L.P.’s holdings in DTE Energy were worth $1,494,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in DTE. Farther Finance Advisors LLC boosted its position in DTE Energy by 2.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,588 shares of the utilities provider’s stock valued at $461,000 after buying an additional 81 shares during the period. Signaturefd LLC increased its holdings in DTE Energy by 3.1% during the 3rd quarter. Signaturefd LLC now owns 2,889 shares of the utilities provider’s stock valued at $371,000 after purchasing an additional 86 shares during the period. Aptus Capital Advisors LLC raised its position in DTE Energy by 3.7% during the 2nd quarter. Aptus Capital Advisors LLC now owns 2,632 shares of the utilities provider’s stock valued at $292,000 after purchasing an additional 94 shares during the last quarter. ASB Consultores LLC raised its position in DTE Energy by 4.9% during the 2nd quarter. ASB Consultores LLC now owns 2,179 shares of the utilities provider’s stock valued at $242,000 after purchasing an additional 101 shares during the last quarter. Finally, Centennial Wealth Advisory LLC increased its stake in shares of DTE Energy by 2.1% during the third quarter. Centennial Wealth Advisory LLC now owns 5,338 shares of the utilities provider’s stock valued at $685,000 after buying an additional 110 shares during the period. Institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Down 0.5 %

Shares of DTE Energy stock opened at $122.95 on Wednesday. The company has a 50-day simple moving average of $124.63 and a two-hundred day simple moving average of $120.15. The stock has a market capitalization of $25.46 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 2.28 and a beta of 0.68. DTE Energy has a 52-week low of $102.17 and a 52-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 firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be given a $1.09 dividend. This is a boost from DTE Energy’s previous quarterly dividend of $1.02. This represents a $4.36 annualized dividend and a yield of 3.55%. DTE Energy’s dividend payout ratio is 55.28%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DTE. BMO Capital Markets boosted their price objective on shares of DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. KeyCorp increased their price target on shares of DTE Energy from $136.00 to $138.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Bank of America lifted their price objective on DTE Energy from $131.00 to $136.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Wells Fargo & Company increased their target price on DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, DTE Energy presently has an average rating of “Moderate Buy” and an average target price of $132.29.

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.