Pallas Capital Advisors LLC Buys 1,211 Shares of DTE Energy (NYSE:DTE)

Pallas Capital Advisors LLC increased its stake in DTE Energy (NYSE:DTE) by 4.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,534 shares of the utilities provider’s stock after acquiring an additional 1,211 shares during the period. Pallas Capital Advisors LLC’s holdings in DTE Energy were worth $3,566,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp grew its position in DTE Energy by 7.0% during the 3rd quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock worth $1,319,264,000 after acquiring an additional 662,569 shares during the last quarter. Mizuho Securities USA LLC raised its holdings in DTE Energy by 44,009.5% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock valued at $903,878,000 after buying an additional 7,023,042 shares during the last quarter. Ameriprise Financial Inc. boosted its position in DTE Energy by 1.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,557,309 shares of the utilities provider’s stock valued at $616,938,000 after buying an additional 86,205 shares during the period. Janus Henderson Group PLC grew its holdings in DTE Energy by 2.4% in the 3rd quarter. Janus Henderson Group PLC now owns 2,720,265 shares of the utilities provider’s stock worth $349,309,000 after acquiring an additional 64,880 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of DTE Energy by 3.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,667,111 shares of the utilities provider’s stock valued at $185,066,000 after acquiring an additional 59,811 shares during the last quarter. Institutional investors own 76.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Morgan Stanley cut their price objective on DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. 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. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th. KeyCorp lowered shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Finally, Scotiabank increased their price target on shares of DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research note on Thursday, December 12th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $134.31.

DTE Energy Stock Performance

NYSE:DTE traded down $0.86 on Monday, hitting $118.16. The stock had a trading volume of 710,389 shares, compared to its average volume of 849,281. DTE Energy has a 52-week low of $102.17 and a 52-week high of $131.66. The stock has a market cap of $24.47 billion, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 2.23 and a beta of 0.68. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.76. The business’s 50-day simple moving average is $121.36 and its two-hundred day simple moving average is $121.68.

DTE Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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. The ex-dividend date of this dividend is Monday, December 16th. This represents a $4.36 dividend on an annualized basis and a yield of 3.69%. DTE Energy’s dividend payout ratio is presently 55.28%.

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.