IFM Investors Pty Ltd grew its holdings in DTE Energy (NYSE:DTE – Get Rating) by 15.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 32,296 shares of the utilities provider's stock after purchasing an additional 4,441 shares during the quarter. IFM Investors Pty Ltd's holdings in DTE Energy were worth $4,094,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. City State Bank bought a new position in shares of DTE Energy in the 4th quarter valued at about $32,000. Elequin Capital LP bought a new position in shares of DTE Energy in the 1st quarter valued at about $35,000. Sound Income Strategies LLC boosted its stake in DTE Energy by 96.7% during the 2nd quarter. Sound Income Strategies LLC now owns 362 shares of the utilities provider's stock worth $46,000 after acquiring an additional 178 shares during the last quarter. HHM Wealth Advisors LLC bought a new position in DTE Energy during the 1st quarter worth approximately $56,000. Finally, AIA Group Ltd boosted its stake in DTE Energy by 127.7% during the 1st quarter. AIA Group Ltd now owns 501 shares of the utilities provider's stock worth $66,000 after acquiring an additional 281 shares during the last quarter. Institutional investors own 73.80% of the company's stock.
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Analysts Set New Price Targets
Several research analysts recently weighed in on the stock. Barclays reduced their price objective on shares of DTE Energy from $141.00 to $131.00 and set an "equal weight" rating on the stock in a research note on Monday, July 18th. Credit Suisse Group lifted their price objective on shares of DTE Energy to $140.00 in a research note on Tuesday, August 9th. Morgan Stanley reduced their price objective on shares of DTE Energy from $141.00 to $139.00 and set an "overweight" rating on the stock in a research note on Thursday. Finally, Mizuho reduced their price objective on shares of DTE Energy from $137.00 to $130.00 and set a "buy" rating on the stock in a research note on Monday, July 11th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $132.70.
Insider Activity
In other news, EVP Robert A. Richard sold 2,900 shares of DTE Energy stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $130.31, for a total value of $377,899.00. Following the sale, the executive vice president now directly owns 18,046 shares in the company, valued at $2,351,574.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through
the SEC website. In related news, COO Joi M. Harris sold 1,800 shares of the business's stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $130.13, for a total transaction of $234,234.00. Following the transaction, the chief operating officer now directly owns 8,011 shares in the company, valued at $1,042,471.43. The sale was disclosed in a filing with the SEC, which is available through
this link. Also, EVP Robert A. Richard sold 2,900 shares of the business's stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $130.31, for a total transaction of $377,899.00. Following the transaction, the executive vice president now owns 18,046 shares in the company, valued at $2,351,574.26. The disclosure for this sale can be found
here. Insiders have sold 5,700 shares of company stock worth $747,753 over the last ninety days. Insiders own 0.61% of the company's stock.
DTE Energy Stock Performance
Shares of DTE opened at $125.66 on Friday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.47 and a current ratio of 0.59. DTE Energy has a twelve month low of $108.22 and a twelve month high of $140.23. The firm has a market cap of $24.35 billion, a P/E ratio of 32.06, a PEG ratio of 3.50 and a beta of 0.60. The firm's 50 day moving average price is $130.84 and its two-hundred day moving average price is $129.92.
DTE Energy (NYSE:DTE – Get Rating) last posted its quarterly earnings data on Thursday, July 28th. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.02 by ($0.14). DTE Energy had a net margin of 4.27% and a return on equity of 13.31%. During the same quarter last year, the company earned $1.70 earnings per share. On average, analysts forecast that DTE Energy will post 6.02 EPS for the current fiscal year.
DTE Energy Profile
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DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.3 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.
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