Private Advisor Group LLC lifted its stake in DTE Energy (NYSE:DTE – Get Rating) by 7.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,643 shares of the utilities provider's stock after acquiring an additional 876 shares during the quarter. Private Advisor Group LLC's holdings in DTE Energy were worth $1,602,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in DTE. LPL Financial LLC grew its stake in shares of DTE Energy by 5.8% in the fourth quarter. LPL Financial LLC now owns 69,907 shares of the utilities provider's stock worth $8,357,000 after acquiring an additional 3,817 shares during the period. Credit Suisse AG grew its stake in shares of DTE Energy by 4.3% in the fourth quarter. Credit Suisse AG now owns 134,214 shares of the utilities provider's stock worth $16,045,000 after acquiring an additional 5,529 shares during the period. Bridgewater Associates LP bought a new stake in shares of DTE Energy in the fourth quarter worth approximately $1,232,000. D. E. Shaw & Co. Inc. bought a new stake in shares of DTE Energy in the fourth quarter worth approximately $24,272,000. Finally, Canada Pension Plan Investment Board grew its stake in shares of DTE Energy by 0.9% in the fourth quarter. Canada Pension Plan Investment Board now owns 294,536 shares of the utilities provider's stock worth $35,209,000 after acquiring an additional 2,566 shares during the period. 73.80% of the stock is currently owned by institutional investors.
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Analyst Upgrades and Downgrades
A number of analysts have commented on DTE shares. Morgan Stanley reduced their target price on shares of DTE Energy from $141.00 to $139.00 and set an "overweight" rating for the company in a report on Thursday, September 22nd. Barclays decreased their target price on DTE Energy from $141.00 to $131.00 and set an "equal weight" rating on the stock in a report on Monday, July 18th. Mizuho decreased their target price on DTE Energy from $137.00 to $130.00 and set a "buy" rating on the stock in a report on Monday, July 11th. Finally, Credit Suisse Group raised their target price on DTE Energy to $140.00 in a report on Tuesday, August 9th. 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, DTE Energy currently has an average rating of "Moderate Buy" and a consensus price target of $132.70.
DTE Energy Price Performance
NYSE:DTE opened at $118.22 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.59 and a debt-to-equity ratio of 1.82. The business's 50-day simple moving average is $130.74 and its two-hundred day simple moving average is $129.74. The stock has a market cap of $22.90 billion, a PE ratio of 30.16, a P/E/G ratio of 3.37 and a beta of 0.60. DTE Energy has a 52 week low of $108.22 and a 52 week high of $140.23.
DTE Energy (NYSE:DTE – Get Rating) last posted its quarterly earnings results on Thursday, July 28th. The utilities provider reported $0.88 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 period in the prior year, the firm earned $1.70 EPS. As a group, analysts forecast that DTE Energy will post 6.02 EPS for the current fiscal year.
Insider Buying and Selling at DTE Energy
In other news, EVP Robert A. Richard sold 2,900 shares of the firm'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 completion of the transaction, the executive vice president now owns 18,046 shares in the company, valued at $2,351,574.26. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Joann Chavez sold 1,000 shares of the firm's stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $135.62, for a total transaction of $135,620.00. Following the completion of the transaction, the senior vice president now owns 9,657 shares in the company, valued at $1,309,682.34. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Robert A. Richard sold 2,900 shares of the firm's stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $130.31, for a total value 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. Insiders have sold a total of 5,700 shares of company stock valued at $747,753 over the last ninety days. 0.61% of the stock is currently owned by company insiders.
About DTE Energy
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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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