Sanctuary Advisors LLC Increases Stake in DTE Energy

Sanctuary Advisors LLC has raised its investment in DTE Energy (NYSE:DTE) by 21.0% during the third quarter, as revealed in its latest filing with the SEC. After acquiring an additional 5,243 shares, the institutional investor now holds 30,220 shares of the utility company, which were valued at $3,765,000 at the close of the most recent reporting period.

Other Institutional Investors in DTE Energy

In addition to Sanctuary Advisors, several other institutional investors have opted to either buy or sell shares in DTE Energy recently. For instance, State Street Corp increased its holdings by 7.0% in the third quarter, now owning 10,193,572 shares valued at approximately $1.32 billion after acquiring an additional 662,569 shares. Mizuho Securities USA LLC made a significant acquisition by raising its position by an astonishing 44,009.5%, obtaining 7,039,000 shares worth $903,878,000 after acquiring 7,023,042 shares in the last quarter. Ameriprise Financial Inc. also raised its stake in DTE Energy by 1.6% during the second quarter, resulting in ownership of 5,557,309 shares valued at about $616,938,000. Other notable investors include Janus Henderson Group PLC, which improved its holdings by 2.4%, and Massachusetts Financial Services Co., which increased its stake by 3.7%. Overall, institutional investors hold about 76.06% of DTE Energy's stock.

DTE Energy Stock Overview

The stock of DTE Energy (NYSE:DTE) opened at $121.35 on Tuesday. The utility company’s shares have fluctuated, with a one-year low of $102.17 and a high of $131.66. The company boasts a market capitalization of $25.13 billion, a P/E ratio of 16.44, a PEG ratio of 2.23, and a beta of 0.68. Currently, the fifty-day moving average price stands at $123.63, while the two-hundred day moving average is $120.65. DTE Energy has a debt-to-equity ratio of 1.76, a quick ratio of 0.62, and a current ratio of 0.83.

Dividend Announcement from DTE Energy

DTE Energy recently declared a quarterly dividend that will be paid out on Wednesday, January 15th. Shareholders recorded as of Monday, December 16th, will receive a dividend of $1.09 per share, which is an increase from the previous dividend of $1.02. This change translates to an annualized dividend of $4.36, providing a yield of 3.59%. The ex-dividend date for this distribution is also set for Monday, December 16th. Currently, DTE Energy has a payout ratio of 59.08%.

Analyst Ratings and Changes

Recent reports from various analysts provide insights on DTE Energy shares. Morgan Stanley has updated its price target, lowering it from $131.00 to $128.00, while maintaining an “overweight” rating. Meanwhile, KeyCorp decreased its rating from “overweight” to “sector weight.” In a contrasting view, Scotiabank raised their target price from $137.00 to $147.00 with a “sector outperform” rating. Also, UBS Group upgraded shares from a “neutral” to a “buy” rating and adjusted their price target from $129.00 to $143.00. Bank of America has also increased its price target from $131.00 to $136.00, maintaining a “buy” rating. Among investment analysts, there are seven hold ratings and eight buy ratings for DTE Energy, resulting in a consensus rating of “Moderate Buy” with an average target price of $134.31.

DTE Energy Company Background

DTE Energy Company is involved in utility operations, primarily generating, purchasing, distributing, and selling electricity. Its electric segment serves a diverse range of residential, commercial, and industrial customers across southeastern Michigan. Energy is generated through various sources including coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as renewable resources like wind and solar.

investment, stock, utilities