Perigon Wealth Management LLC Grows Stock Holdings in DTE Energy (NYSE:DTE)

Perigon Wealth Management LLC lifted its position in shares of DTE Energy (NYSE:DTE) by 15.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,912 shares of the utilities provider’s stock after purchasing an additional 1,429 shares during the period. Perigon Wealth Management LLC’s holdings in DTE Energy were worth $1,342,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of DTE. AQR Capital Management LLC lifted its holdings in DTE Energy by 17.2% in the 2nd quarter. AQR Capital Management LLC now owns 73,096 shares of the utilities provider’s stock worth $8,098,000 after buying an additional 10,726 shares during the period. Creative Planning raised its holdings in shares of DTE Energy by 1.8% during the second quarter. Creative Planning now owns 63,014 shares of the utilities provider’s stock valued at $6,995,000 after acquiring an additional 1,140 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in DTE Energy in the second quarter worth $201,000. Sanctuary Advisors LLC bought a new stake in DTE Energy in the second quarter valued at $2,736,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in DTE Energy by 44.4% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,194 shares of the utilities provider’s stock valued at $355,000 after purchasing an additional 982 shares during the period. 76.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

DTE has been the subject of several research analyst reports. Jefferies Financial Group started coverage on shares of DTE Energy in a research report on Monday, October 21st. They issued a “hold” rating and a $137.00 target price for the company. BMO Capital Markets raised their price objective on shares of DTE Energy from $135.00 to $140.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Wells Fargo & Company upped their target price on DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Scotiabank raised their target price on DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research note on Thursday, December 12th. Finally, Guggenheim raised DTE Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $136.25.

DTE Energy Price Performance

DTE opened at $119.30 on Friday. The firm has a market cap of $24.71 billion, a PE ratio of 16.16, a P/E/G ratio of 2.07 and a beta of 0.68. The stock has a 50-day moving average price of $121.47 and a 200-day moving average price of $122.54. DTE Energy has a 1 year low of $102.78 and a 1 year high of $131.66. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62.

DTE Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th were issued a dividend of $1.09 per share. This is a boost from DTE Energy’s previous quarterly dividend of $1.02. The ex-dividend date was Monday, December 16th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.65%. DTE Energy’s dividend payout ratio is presently 59.08%.

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.