Bank of Montreal Can Trims Stake in DTE Energy (NYSE:DTE)

Bank of Montreal Can lowered its position in DTE Energy (NYSE:DTE) by 1.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 265,955 shares of the utilities provider’s stock after selling 3,076 shares during the quarter. Bank of Montreal Can’s holdings in DTE Energy were worth $33,877,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC purchased a new position in DTE Energy in the 3rd quarter worth about $35,000. Ashton Thomas Securities LLC purchased a new position in DTE Energy in the 3rd quarter worth about $35,000. Ridgewood Investments LLC purchased a new position in DTE Energy in the 2nd quarter worth about $31,000. Coastline Trust Co purchased a new position in DTE Energy in the 3rd quarter worth about $39,000. Finally, Fairscale Capital LLC purchased a new position in DTE Energy in the 2nd quarter worth about $54,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on DTE shares. Wells Fargo & Company raised their price target on shares of DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Barclays raised their target price on shares of DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th. Mizuho raised their target price on shares of DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Finally, Bank of America raised their target price on shares of DTE Energy from $131.00 to $136.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, DTE Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.46.

DTE Energy Stock Up 0.5 %

NYSE:DTE opened at $126.08 on Friday. DTE Energy has a fifty-two week low of $102.17 and a fifty-two week high of $131.66. The stock has a market capitalization of $26.11 billion, a P/E ratio of 17.08, a P/E/G ratio of 2.31 and a beta of 0.68. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.62 and a current ratio of 0.83. The company’s 50-day simple moving average is $124.71 and its 200-day simple moving average is $119.92.

DTE Energy Profile

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.