Folger Nolan Fleming Douglas Capital Management Inc. Sells 239 Shares of DTE Energy Company $DTE

Folger Nolan Fleming Douglas Capital Management Inc. lessened its holdings in DTE Energy Company (NYSE:DTE) by 11.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,788 shares of the utilities provider’s stock after selling 239 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in DTE Energy were worth $237,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Northern Trust Corp raised its stake in DTE Energy by 0.5% in the 1st quarter. Northern Trust Corp now owns 1,836,832 shares of the utilities provider’s stock valued at $253,979,000 after acquiring an additional 9,664 shares during the period. Goldman Sachs Group Inc. raised its stake in DTE Energy by 65.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,612,925 shares of the utilities provider’s stock valued at $223,019,000 after acquiring an additional 637,378 shares during the period. JPMorgan Chase & Co. raised its stake in DTE Energy by 57.4% in the 1st quarter. JPMorgan Chase & Co. now owns 1,405,516 shares of the utilities provider’s stock valued at $194,341,000 after acquiring an additional 512,567 shares during the period. Charles Schwab Investment Management Inc. raised its stake in DTE Energy by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,316,107 shares of the utilities provider’s stock valued at $181,978,000 after acquiring an additional 9,443 shares during the period. Finally, Royal Bank of Canada raised its stake in DTE Energy by 1.2% in the 1st quarter. Royal Bank of Canada now owns 1,173,220 shares of the utilities provider’s stock valued at $162,221,000 after acquiring an additional 13,884 shares during the period. Institutional investors own 76.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on DTE shares. Scotiabank reaffirmed a “sector perform” rating and issued a $147.00 price objective on shares of DTE Energy in a report on Friday, October 3rd. UBS Group upped their price objective on DTE Energy from $148.00 to $158.00 and gave the company a “buy” rating in a report on Friday. Morgan Stanley decreased their price objective on DTE Energy from $140.00 to $137.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Wall Street Zen lowered DTE Energy from a “hold” rating to a “sell” rating in a report on Saturday. Finally, BMO Capital Markets upped their price objective on DTE Energy from $140.00 to $144.00 and gave the company a “market perform” rating in a report on Monday, August 25th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $145.25.

DTE Energy Stock Performance

DTE opened at $140.29 on Friday. The firm has a market cap of $29.12 billion, a P/E ratio of 20.19, a price-to-earnings-growth ratio of 2.78 and a beta of 0.42. DTE Energy Company has a 52-week low of $115.59 and a 52-week high of $143.79. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.57 and a current ratio of 0.94. The business’s fifty day moving average is $138.40 and its 200-day moving average is $135.87.

DTE Energy (NYSE:DTE) last released its earnings results on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.01). The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.67 billion. DTE Energy had a return on equity of 12.72% and a net margin of 10.16%. Sell-side analysts expect that DTE Energy Company will post 7.18 EPS for the current fiscal year.

Insider Activity

In other news, VP Lisa A. Muschong sold 1,600 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $140.53, for a total transaction of $224,848.00. Following the sale, the vice president directly owned 4,153 shares of the company’s stock, valued at approximately $583,621.09. This represents a 27.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.33% of the company’s stock.

DTE Energy Company 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.