DTE Energy Company $DTE Shares Purchased by LRI Investments LLC

LRI Investments LLC increased its stake in shares of DTE Energy Company (NYSE:DTE) by 456.7% during the 2nd quarter, Holdings Channel reports. The fund owned 835 shares of the utilities provider’s stock after purchasing an additional 685 shares during the quarter. LRI Investments LLC’s holdings in DTE Energy were worth $111,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DTE. Cloud Capital Management LLC acquired a new stake in DTE Energy during the first quarter worth about $25,000. Quintet Private Bank Europe S.A. acquired a new stake in DTE Energy during the second quarter worth about $25,000. Olde Wealth Management LLC purchased a new position in DTE Energy during the first quarter worth approximately $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in DTE Energy during the first quarter worth approximately $28,000. Finally, SouthState Corp purchased a new position in DTE Energy during the first quarter worth approximately $29,000. 76.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Lisa A. Muschong sold 1,600 shares of DTE Energy stock in a transaction that occurred 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 transaction, the vice president owned 4,153 shares in the company, valued at approximately $583,621.09. This trade represents a 27.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on DTE. UBS Group increased their price target on DTE Energy from $148.00 to $158.00 and gave the stock a “buy” rating in a research report on Friday. Morgan Stanley lowered their price target on DTE Energy from $140.00 to $137.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. JPMorgan Chase & Co. increased their price target on DTE Energy from $145.00 to $147.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 15th. Barclays increased their price target on DTE Energy from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Finally, BMO Capital Markets increased their price target on DTE Energy from $140.00 to $144.00 and gave the stock a “market perform” rating in a research report on Monday, August 25th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.25.

DTE Energy Stock Performance

NYSE DTE opened at $140.29 on Monday. The company has a market cap of $29.12 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 3.01 and a beta of 0.42. The stock’s 50 day simple moving average is $138.40 and its 200-day simple moving average is $135.87. DTE Energy Company has a 1-year low of $115.59 and a 1-year high of $143.79. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.94 and a quick ratio of 0.57.

DTE Energy (NYSE:DTE) last released its earnings results on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.01). The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.67 billion. DTE Energy had a net margin of 10.16% and a return on equity of 12.72%. As a group, equities research analysts anticipate that DTE Energy Company will post 7.18 EPS for the current fiscal year.

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.