Raymond James Trust N.A. grew its stake in shares of DTE Energy (NYSE:DTE – Get Rating) by 10.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,664 shares of the utilities provider's stock after acquiring an additional 358 shares during the period. Raymond James Trust N.A.'s holdings in DTE Energy were worth $465,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in DTE. LPL Financial LLC lifted its position 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 worth $8,357,000 after acquiring an additional 3,817 shares in the last quarter. Credit Suisse AG lifted its position 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 worth $16,045,000 after acquiring an additional 5,529 shares in the last quarter. Bridgewater Associates LP purchased a new stake in shares of DTE Energy during the fourth quarter worth $1,232,000. Point72 Asset Management L.P. purchased a new stake in shares of DTE Energy during the fourth quarter worth $45,533,000. Finally, Energy Income Partners LLC raised its position in shares of DTE Energy by 39.2% in the fourth quarter. Energy Income Partners LLC now owns 889,467 shares of the utilities provider's stock worth $106,327,000 after buying an additional 250,546 shares in the last quarter. Hedge funds and other institutional investors own 73.80% of the company's stock.
Get DTE Energy alerts:DTE Energy Stock Down 2.1 %
Shares of NYSE:DTE opened at $123.01 on Tuesday. The stock's 50-day moving average price is $130.82 and its 200-day moving average price is $129.91. DTE Energy has a 12-month low of $108.22 and a 12-month high of $140.23. The stock has a market capitalization of $23.83 billion, a P/E ratio of 31.38, a price-to-earnings-growth ratio of 3.47 and a beta of 0.60. The company has a current ratio of 0.59, a quick ratio of 0.47 and a debt-to-equity ratio of 1.82.
DTE Energy (NYSE:DTE – Get Rating) last announced 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 period in the prior year, the firm earned $1.70 EPS. On average, equities analysts anticipate that DTE Energy will post 6.03 earnings per share for the current year.Analysts Set New Price Targets
A number of equities research analysts recently issued reports on DTE shares. Morgan Stanley lowered their price objective on DTE Energy from $141.00 to $139.00 and set an "overweight" rating on the stock in a research report on Thursday, September 22nd. Mizuho lowered their price objective on DTE Energy from $137.00 to $130.00 and set a "buy" rating on the stock in a research report on Monday, July 11th. Credit Suisse Group increased their price objective on DTE Energy to $140.00 in a research report on Tuesday, August 9th. Finally, Barclays reduced their target price 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. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, DTE Energy currently has a consensus rating of "Moderate Buy" and an average target price of $132.70.
Insider Activity
In other 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 directly owns 8,011 shares of the company's stock, valued at $1,042,471.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related 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 value of $377,899.00. Following the sale, the executive vice president now directly owns 18,046 shares of the company's stock, valued at $2,351,574.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 completion of the sale, the chief operating officer now directly owns 8,011 shares in the company, valued at $1,042,471.43. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,700 shares of company stock valued at $747,753. 0.61% of the stock is currently owned by 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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