Cyndeo Wealth Partners LLC Purchases 2,969 Shares of DTE Energy (NYSE:DTE)

Cyndeo Wealth Partners LLC increased its position in shares of DTE Energy (NYSE:DTE) by 5.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,937 shares of the utilities provider’s stock after acquiring an additional 2,969 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in DTE Energy were worth $6,634,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new position in DTE Energy during the 3rd quarter valued at about $30,000. Prospera Private Wealth LLC bought a new stake in shares of DTE Energy during the third quarter worth approximately $35,000. Ashton Thomas Securities LLC acquired a new position in DTE Energy in the third quarter valued at approximately $35,000. Versant Capital Management Inc boosted its stake in DTE Energy by 890.0% in 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 last quarter. Finally, Coastline Trust Co acquired a new stake in DTE Energy during the 3rd quarter worth $39,000. Institutional investors own 76.06% of the company’s stock.

Analyst Ratings Changes

DTE has been the topic of a number of analyst reports. Barclays increased their price target on DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Guggenheim upgraded DTE Energy from a “neutral” rating to a “buy” rating in a report on Thursday. UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $129.00 to $143.00 in a research report on Tuesday, December 3rd. Wells Fargo & Company increased their price target on shares of DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, Jefferies Financial Group started coverage on shares of DTE Energy in a report on Monday, October 21st. They set a “hold” rating and a $137.00 price objective for the company. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $136.25.

DTE Energy Trading Down 0.4 %

DTE opened at $119.07 on Friday. The firm’s fifty day simple moving average is $121.59 and its 200 day simple moving average is $122.30. The stock has a market capitalization of $24.66 billion, a P/E ratio of 16.13, a P/E/G ratio of 2.07 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. DTE Energy has a 12 month low of $102.50 and a 12 month high of $131.66.

DTE Energy Increases Dividend

The company 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 a boost from DTE Energy’s previous quarterly dividend of $1.02. This represents a $4.36 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend was Monday, December 16th. DTE Energy’s dividend payout ratio is currently 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.