5 Best Dividend Stocks to Buy According to Sculptor Capital

3. DTE Energy Company (NYSE:DTE)

Number of Hedge Fund Holders: 22
Dividend Yield as of February 4: 2.95%
Sculptor Capital’s Stake Value: $13,586,000

DTE Energy Company (NYSE:DTE), an American diversified energy company, has increased its dividends in the past but announced a dividend cut earlier in 2021 as it saw a decline in cash flows. However, on October 27, 2021, the company reported a 7% increase in its quarterly dividend at $0.885 per share, with a dividend yield of 2.95%.

In Q3 2021, Sculptor Capital held a roughly $13.6 billion worth of stake in DTE Energy Company (NYSE:DTE), which represented 0.11% of its 13F portfolio. The hedge fund started building its position in the company with shares worth only $4 million, during the first quarter of 2021. In January, Edward Jones showed confidence in DTE Energy Company’s (NYSE:DTE) earnings growth and upgraded the shares to Buy from Hold.

The number of hedge funds tracked by Insider Monkey having stakes in DTE Energy Company (NYSE:DTE) declined to 22, from 32 in the previous quarter. These stakes hold a consolidated value of over $426 million. Among these hedge funds, Ken Griffin’s Citadel Investment Group held the largest stake in the company in Q3, worth $66.2 million.