abrdn plc Increases Stake in DTE Energy (NYSE:DTE)

abrdn plc increased its position in DTE Energy (NYSE:DTE - Free Report) by 13.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 86,965 shares of the utilities provider's stock after acquiring an additional 10,604 shares during the period. abrdn plc's holdings in DTE Energy were worth $10,444,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Leisure Capital Management raised its stake in DTE Energy by 3.1% during the 4th quarter. Leisure Capital Management now owns 8,451 shares of the utilities provider's stock valued at $1,020,000 after buying an additional 255 shares during the last quarter. Chicago Capital LLC increased its stake in shares of DTE Energy by 5.8% in the 4th quarter. Chicago Capital LLC now owns 4,364 shares of the utilities provider's stock worth $527,000 after purchasing an additional 240 shares in the last quarter. CENTRAL TRUST Co increased its stake in shares of DTE Energy by 14.1% in the 4th quarter. CENTRAL TRUST Co now owns 4,050 shares of the utilities provider's stock worth $489,000 after purchasing an additional 499 shares in the last quarter. SkyOak Wealth LLC increased its stake in shares of DTE Energy by 4.1% in the 4th quarter. SkyOak Wealth LLC now owns 2,174 shares of the utilities provider's stock worth $262,000 after purchasing an additional 85 shares in the last quarter. Finally, Greenleaf Trust increased its stake in shares of DTE Energy by 4.4% in the 4th quarter. Greenleaf Trust now owns 5,502 shares of the utilities provider's stock worth $664,000 after purchasing an additional 232 shares in the last quarter. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

DTE Energy Stock Performance

Shares of DTE Energy stock traded up $1.15 during trading on Tuesday, hitting $124.86. 924,533 shares of the company's stock were exchanged, compared to its average volume of 1,093,575. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.62 and a current ratio of 0.83. The business has a 50-day simple moving average of $120.91 and a 200-day simple moving average of $122.88. DTE Energy has a 52-week low of $103.06 and a 52-week high of $131.66. The stock has a market capitalization of $25.86 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 2.25 and a beta of 0.68.

DTE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be issued a $1.09 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $4.36 dividend on an annualized basis and a yield of 3.49%. DTE Energy's payout ratio is 59.08%.

Wall Street Analysts Forecast Growth

DTE has been the subject of several research reports. Morgan Stanley dropped their price objective on shares of DTE Energy from $131.00 to $128.00 and set an "overweight" rating for the company in a report on Friday, November 22nd. BMO Capital Markets increased 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. UBS Group upgraded shares of DTE Energy from a "neutral" rating to a "buy" rating and upped their target price for the company from $129.00 to $143.00 in a research report on Tuesday, December 3rd. Scotiabank upped their target price on shares of DTE Energy from $137.00 to $147.00 and gave the company a "sector outperform" rating in a research report on Thursday, December 12th. Finally, Jefferies Financial Group began coverage on shares of DTE Energy in a research report on Monday, October 21st. They set a "hold" rating and a $137.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company 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.