Spirit of America Management Corp NY Boosts Stock Holdings in DTE Energy (NYSE:DTE)

Spirit of America Management Corp NY grew its position in shares of DTE Energy (NYSE:DTE) by 24.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,000 shares of the utilities provider’s stock after buying an additional 1,950 shares during the quarter. Spirit of America Management Corp NY’s holdings in DTE Energy were worth $1,208,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Stratos Wealth Partners LTD. grew its holdings in shares of DTE Energy by 4.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 2,139 shares of the utilities provider’s stock valued at $258,000 after buying an additional 92 shares during the last quarter. Yousif Capital Management LLC boosted its holdings in DTE Energy by 21.4% in the fourth quarter. Yousif Capital Management LLC now owns 34,175 shares of the utilities provider’s stock worth $4,127,000 after purchasing an additional 6,035 shares during the last quarter. Old North State Wealth Management LLC boosted its holdings in DTE Energy by 17.4% in the fourth quarter. Old North State Wealth Management LLC now owns 3,229 shares of the utilities provider’s stock worth $391,000 after purchasing an additional 478 shares during the last quarter. Avitas Wealth Management LLC boosted its holdings in DTE Energy by 0.6% in the fourth quarter. Avitas Wealth Management LLC now owns 23,972 shares of the utilities provider’s stock worth $2,895,000 after purchasing an additional 138 shares during the last quarter. Finally, Robbins Farley purchased a new stake in DTE Energy in the fourth quarter worth approximately $57,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on DTE shares. Wells Fargo & Company raised their target price on shares of DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Jefferies Financial Group started coverage on shares of DTE Energy in a report on Monday, October 21st. They issued a “hold” rating and a $137.00 target price on the stock. 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 report on Friday, November 22nd. KeyCorp cut shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Finally, StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 24th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, DTE Energy has an average rating of “Moderate Buy” and a consensus price target of $136.25.

DTE Energy Stock Down 0.1 %

Shares of DTE stock opened at $120.75 on Wednesday. The company has a market capitalization of $25.01 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 2.20 and a beta of 0.68. DTE Energy has a one year low of $102.78 and a one year high of $131.66. The company’s fifty day moving average price is $121.20 and its 200-day moving average price is $122.69. 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 disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th were given a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a dividend yield of 3.61%. This is an increase from DTE Energy’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Monday, December 16th. DTE Energy’s dividend payout ratio (DPR) 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.