Integrated Investment Consultants LLC purchased a new position in shares of DTE Energy (NYSE:DTE – Get Rating) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,044 shares of the utilities provider's stock, valued at approximately $259,000.
Other large investors have also made changes to their positions in the company. LPL Financial LLC grew its holdings in shares of DTE Energy by 5.8% during the fourth quarter. LPL Financial LLC now owns 69,907 shares of the utilities provider's stock valued at $8,357,000 after buying an additional 3,817 shares during the last quarter. Credit Suisse AG grew its holdings in shares of DTE Energy by 4.3% during the fourth quarter. Credit Suisse AG now owns 134,214 shares of the utilities provider's stock valued at $16,045,000 after buying an additional 5,529 shares during the last quarter. Bridgewater Associates LP purchased a new stake in shares of DTE Energy during the fourth quarter valued at $1,232,000. Point72 Asset Management L.P. purchased a new stake in shares of DTE Energy during the fourth quarter valued at $45,533,000. Finally, Energy Income Partners LLC grew its holdings in shares of DTE Energy by 39.2% during the fourth quarter. Energy Income Partners LLC now owns 889,467 shares of the utilities provider's stock valued at $106,327,000 after buying an additional 250,546 shares during the last quarter. 73.80% of the stock is owned by institutional investors and hedge funds.
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Insiders Place Their Bets
In other DTE Energy news, COO Joi M. Harris sold 1,800 shares of the company's stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $130.13, for a total value of $234,234.00. Following the completion of the transaction, the chief operating officer now owns 8,011 shares in the company, valued at $1,042,471.43. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, COO Joi M. Harris sold 1,800 shares of the company's stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $130.13, for a total transaction of $234,234.00. Following the completion of the transaction, the chief operating officer now owns 8,011 shares in the company, valued at approximately $1,042,471.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert A. Richard sold 2,900 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $2,351,574.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,700 shares of company stock worth $747,753. Company insiders own 0.61% of the company's stock.
DTE Energy Trading Down 1.1 %
Shares of DTE Energy stock opened at $121.70 on Wednesday. The firm has a 50-day simple moving average of $130.78 and a two-hundred day simple moving average of $129.85. The company has a market cap of $23.58 billion, a P/E ratio of 31.05, a price-to-earnings-growth ratio of 3.40 and a beta of 0.60. DTE Energy has a fifty-two week low of $108.22 and a fifty-two week high of $140.23. 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 (NYSE:DTE – Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The utilities provider reported $0.88 earnings per share for the quarter, missing analysts' consensus estimates of $1.02 by ($0.14). DTE Energy had a return on equity of 13.31% and a net margin of 4.27%. During the same quarter last year, the company posted $1.70 earnings per share. As a group, equities analysts predict that DTE Energy will post 6.02 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on DTE shares. Morgan Stanley dropped their price objective on shares of DTE Energy from $141.00 to $139.00 and set an "overweight" rating on the stock in a report on Thursday, September 22nd. Barclays lowered their price target on shares of DTE Energy from $141.00 to $131.00 and set an "equal weight" rating on the stock in a report on Monday, July 18th. Credit Suisse Group upped their price target on shares of DTE Energy to $140.00 in a report on Tuesday, August 9th. Finally, Mizuho lowered their price target on shares of DTE Energy from $137.00 to $130.00 and set a "buy" rating on the stock in a report on Monday, July 11th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $132.70.
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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