DTE Energy (NYSE:DTE) Shares Acquired by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC increased its stake in DTE Energy (NYSE:DTE) by 8.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 59,452 shares of the utilities provider’s stock after acquiring an additional 4,515 shares during the period. Cyndeo Wealth Partners LLC’s holdings in DTE Energy were worth $8,220,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Mattson Financial Services LLC acquired a new stake in shares of DTE Energy in the fourth quarter worth approximately $38,000. Bank of New Hampshire acquired a new position in DTE Energy during the first quarter valued at approximately $55,000. Kestra Investment Management LLC acquired a new position in DTE Energy during the fourth quarter valued at approximately $57,000. Colonial Trust Co SC lifted its position in DTE Energy by 1,266.7% during the fourth quarter. Colonial Trust Co SC now owns 656 shares of the utilities provider’s stock valued at $79,000 after buying an additional 608 shares in the last quarter. Finally, Flagship Wealth Advisors LLC acquired a new position in DTE Energy during the fourth quarter valued at approximately $87,000. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Trading Down 0.7%

NYSE DTE opened at $135.11 on Monday. The company’s fifty day simple moving average is $134.77 and its 200-day simple moving average is $129.23. DTE Energy has a 52 week low of $108.40 and a 52 week high of $140.39. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77. The stock has a market cap of $28.04 billion, a P/E ratio of 19.96, a PEG ratio of 2.41 and a beta of 0.45.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.12. The business had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.33 billion. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. During the same quarter in the previous year, the firm earned $1.67 earnings per share. Equities research analysts predict that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be paid a $1.09 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.23%. DTE Energy’s dividend payout ratio (DPR) is presently 58.92%.

Analysts Set New Price Targets

DTE has been the topic of a number of recent research reports. Evercore ISI lifted their price target on shares of DTE Energy from $136.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Wall Street Zen cut shares of DTE Energy from a “hold” rating to a “sell” rating in a research report on Friday, May 16th. Citigroup reaffirmed a “buy” rating and set a $151.00 price target (up from $142.00) on shares of DTE Energy in a research report on Friday, May 23rd. BMO Capital Markets lifted their price target on shares of DTE Energy from $135.00 to $142.00 and gave the company a “market perform” rating in a research report on Monday, April 21st. Finally, Wells Fargo & Company lifted their price target on shares of DTE Energy from $145.00 to $154.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $140.93.

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.