Wealth Enhancement Advisory Services LLC Acquires 143 Shares of DTE Energy (NYSE:DTE)

Wealth Enhancement Advisory Services LLC increased its stake in DTE Energy (NYSE:DTE) by 0.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 17,800 shares of the utilities provider’s stock after buying an additional 143 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in DTE Energy were worth $2,286,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC purchased a new position in DTE Energy in the third quarter valued at about $30,000. Ashton Thomas Securities LLC bought a new stake in shares of DTE Energy in the 3rd quarter worth approximately $35,000. Prospera Private Wealth LLC purchased a new position in DTE Energy in the third quarter valued at approximately $35,000. Versant Capital Management Inc grew its holdings in DTE Energy by 890.0% during the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 267 shares during the period. Finally, Coastline Trust Co bought a new position in DTE Energy during the third quarter valued at $39,000. Institutional investors own 76.06% of the company’s stock.

DTE Energy Trading Up 1.0 %

Shares of DTE stock opened at $119.41 on Wednesday. The company has a market capitalization of $24.73 billion, a PE ratio of 16.18, a price-to-earnings-growth ratio of 2.23 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 business’s fifty day moving average is $121.21 and its 200 day moving average is $121.78. 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 declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be issued a $1.09 dividend. The ex-dividend date is Monday, December 16th. This represents a $4.36 annualized dividend and a dividend yield of 3.65%. This is a boost from DTE Energy’s previous quarterly dividend of $1.02. DTE Energy’s dividend payout ratio (DPR) is presently 55.28%.

Analyst Ratings Changes

DTE has been the topic of several research reports. Jefferies Financial Group initiated coverage on DTE Energy in a research report on Monday, October 21st. They set a “hold” rating and a $137.00 price target on the stock. Morgan Stanley dropped their price objective on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. KeyCorp downgraded shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Barclays upped their price target on shares of DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, BMO Capital Markets lifted 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 note on Friday, October 18th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.31.

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.