Gateway Investment Advisers LLC increased its holdings in DTE Energy (NYSE:DTE – Get Rating) by 2.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 6,716 shares of the utilities provider's stock after acquiring an additional 185 shares during the period. Gateway Investment Advisers LLC's holdings in DTE Energy were worth $851,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in DTE. City State Bank purchased a new position in shares of DTE Energy during the fourth quarter worth $32,000. Elequin Capital LP purchased a new position in shares of DTE Energy during the first quarter worth $35,000. Sound Income Strategies LLC boosted its position in shares of DTE Energy by 96.7% during the second quarter. Sound Income Strategies LLC now owns 362 shares of the utilities provider's stock worth $46,000 after buying an additional 178 shares during the period. HHM Wealth Advisors LLC purchased a new position in shares of DTE Energy during the first quarter worth $56,000. Finally, AIA Group Ltd boosted its position in shares of DTE Energy by 127.7% during the first quarter. AIA Group Ltd now owns 501 shares of the utilities provider's stock worth $66,000 after buying an additional 281 shares during the period. 73.80% of the stock is currently owned by hedge funds and other institutional investors.
Get DTE Energy alerts:DTE Energy Stock Down 0.7 %
DTE Energy stock opened at $125.66 on Friday. DTE Energy has a 1-year low of $108.22 and a 1-year high of $140.23. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.59 and a quick ratio of 0.47. The stock has a market cap of $24.34 billion, a PE ratio of 32.06, a P/E/G ratio of 3.50 and a beta of 0.60. The stock's fifty day moving average is $130.84 and its two-hundred day moving average is $129.88.
DTE Energy (NYSE:DTE – Get Rating) last posted its quarterly earnings results 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 net margin of 4.27% and a return on equity of 13.31%. During the same period last year, the firm earned $1.70 earnings per share. On average, sell-side analysts expect that DTE Energy will post 6.02 EPS for the current fiscal year.Insiders Place Their Bets
In other DTE Energy news, COO Joi M. Harris sold 1,800 shares of the firm's stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $130.13, for a total transaction of $234,234.00. Following the transaction, the chief operating officer now owns 8,011 shares of the company's stock, valued at $1,042,471.43. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other DTE Energy 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 transaction, the senior vice president now owns 9,657 shares of the company's stock, valued at $1,309,682.34. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Joi M. Harris sold 1,800 shares of the firm's stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $130.13, for a total value of $234,234.00. Following the transaction, the chief operating officer now directly owns 8,011 shares in the company, valued at approximately $1,042,471.43. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,700 shares of company stock valued at $747,753. 0.61% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on DTE shares. Credit Suisse Group increased their price objective on DTE Energy to $140.00 in a research note on Tuesday, August 9th. Barclays reduced their price objective on 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. Morgan Stanley reduced their price objective on 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 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 research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $132.70.
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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