Merit Financial Group LLC Boosts Stock Position in DTE Energy (NYSE:DTE)

Merit Financial Group LLC raised its position in shares of DTE Energy (NYSE:DTE) by 182.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,143 shares of the utilities provider’s stock after buying an additional 3,322 shares during the period. Merit Financial Group LLC’s holdings in DTE Energy were worth $621,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of DTE. Nordea Investment Management AB raised its stake in shares of DTE Energy by 2,235.2% during the 4th quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider’s stock worth $26,706,000 after acquiring an additional 211,763 shares in the last quarter. Hancock Whitney Corp increased its position in shares of DTE Energy by 80.0% during the third quarter. Hancock Whitney Corp now owns 12,885 shares of the utilities provider’s stock worth $1,655,000 after purchasing an additional 5,725 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of DTE Energy by 19.0% during the 2nd quarter. Bank of Montreal Can now owns 269,031 shares of the utilities provider’s stock valued at $30,220,000 after purchasing an additional 42,960 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of DTE Energy in the 3rd quarter worth $650,000. Finally, Blueshift Asset Management LLC purchased a new position in DTE Energy during the 3rd quarter worth $583,000. 76.06% of the stock is currently owned by institutional investors.

DTE Energy Price Performance

Shares of DTE opened at $120.08 on Thursday. The business’s 50-day moving average is $121.58 and its two-hundred day moving average is $122.26. The company has a market capitalization of $24.87 billion, a P/E ratio of 16.27, a P/E/G ratio of 2.13 and a beta of 0.68. DTE Energy has a fifty-two week low of $102.17 and a fifty-two 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 business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors 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 yield of 3.63%. The ex-dividend date was Monday, December 16th. DTE Energy’s dividend payout ratio (DPR) is currently 59.08%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Barclays increased their price objective on shares of DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Morgan Stanley dropped their target price on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. StockNews.com cut shares of DTE Energy from a “hold” rating to a “sell” rating in a report on Thursday, January 16th. Finally, 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 report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.25.

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.