DTE Energy (NYSE:DTE) Stake Trimmed by First American Bank

First American Bank lowered its stake in DTE Energy (NYSE:DTE) by 10.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,299 shares of the utilities provider’s stock after selling 1,411 shares during the quarter. First American Bank’s holdings in DTE Energy were worth $1,579,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of DTE. Janus Henderson Group PLC increased its stake in DTE Energy by 6,964.9% in the 1st quarter. Janus Henderson Group PLC now owns 2,090,350 shares of the utilities provider’s stock worth $234,410,000 after purchasing an additional 2,060,762 shares in the last quarter. Clearbridge Investments LLC boosted its position in DTE Energy by 224.7% during the 1st quarter. Clearbridge Investments LLC now owns 2,538,106 shares of the utilities provider’s stock worth $284,623,000 after acquiring an additional 1,756,459 shares during the period. Capital Research Global Investors boosted its position in DTE Energy by 1.2% during the 1st quarter. Capital Research Global Investors now owns 21,194,653 shares of the utilities provider’s stock worth $2,376,768,000 after acquiring an additional 261,623 shares during the period. Millennium Management LLC boosted its position in DTE Energy by 42.4% during the 2nd quarter. Millennium Management LLC now owns 543,299 shares of the utilities provider’s stock worth $60,312,000 after acquiring an additional 161,776 shares during the period. Finally, Panagora Asset Management Inc. boosted its position in DTE Energy by 133.2% during the 2nd quarter. Panagora Asset Management Inc. now owns 248,151 shares of the utilities provider’s stock worth $27,547,000 after acquiring an additional 141,718 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Down 2.5 %

DTE opened at $126.57 on Monday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.69. The business has a 50 day moving average price of $125.77 and a 200 day moving average price of $118.01. The firm has a market cap of $26.19 billion, a P/E ratio of 20.72, a price-to-earnings-growth ratio of 2.29 and a beta of 0.67. DTE Energy has a twelve month low of $92.58 and a twelve month high of $131.66.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.21 by $0.22. The company had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.65 billion. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. During the same period in the previous year, the business posted $0.99 EPS. Research analysts forecast that DTE Energy will post 6.7 EPS for the current year.

Wall Street Analyst Weigh In

DTE has been the subject of a number of research reports. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, August 11th. KeyCorp raised their price objective on DTE Energy from $136.00 to $138.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Scotiabank raised their price objective on DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Mizuho raised their price objective on DTE Energy from $121.00 to $133.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Finally, BMO Capital Markets lifted their price target on DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $131.46.

About DTE Energy

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.