Confluence Wealth Services Inc. Increases Holdings in DTE Energy (NYSE:DTE)

Confluence Wealth Services Inc. raised its stake in DTE Energy (NYSE:DTE) by 5.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Mizuho Securities USA LLC boosted its stake in DTE Energy by 44,009.5% in the 3rd quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock worth $903,878,000 after purchasing an additional 7,023,042 shares in the last quarter. State Street Corp raised its holdings in DTE Energy by 7.0% in the third quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock worth $1,319,264,000 after buying an additional 662,569 shares during the last quarter. Zimmer Partners LP bought a new position in shares of DTE Energy in the third quarter worth approximately $69,894,000. Point72 Asset Management L.P. bought a new position in shares of DTE Energy in the third quarter worth approximately $66,733,000. Finally, Nordea Investment Management AB grew its holdings in shares of DTE Energy by 2,235.2% during the fourth quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider’s stock valued at $26,706,000 after buying an additional 211,763 shares during the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DTE has been the subject of a number of recent analyst reports. Jefferies Financial Group initiated coverage on shares of DTE Energy in a report on Monday, October 21st. They issued a “hold” rating and a $137.00 price objective for the company. Morgan Stanley decreased their price target on DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. KeyCorp cut DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. BMO Capital Markets boosted their target price on DTE Energy from $135.00 to $140.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Finally, StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, January 24th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $136.25.

DTE Energy Stock Performance

Shares of NYSE DTE opened at $122.63 on Thursday. DTE Energy has a 12-month low of $102.78 and a 12-month high of $131.66. The firm has a market capitalization of $25.40 billion, a price-to-earnings ratio of 16.62, a price-to-earnings-growth ratio of 2.20 and a beta of 0.68. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 1.76. The firm has a 50 day moving average of $121.11 and a 200 day moving average of $122.72.

DTE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th were given a dividend of $1.09 per share. This is an increase from DTE Energy’s previous quarterly dividend of $1.02. The ex-dividend date was Monday, December 16th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.56%. DTE Energy’s payout ratio is presently 59.08%.

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.