Applied Finance Capital Management LLC Cuts Stock Holdings in DTE Energy Company $DTE

Applied Finance Capital Management LLC cut its stake in DTE Energy Company (NYSE:DTE) by 3.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 88,133 shares of the utilities provider’s stock after selling 3,463 shares during the period. Applied Finance Capital Management LLC’s holdings in DTE Energy were worth $11,674,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bessemer Group Inc. raised its position in DTE Energy by 5.1% in the 1st quarter. Bessemer Group Inc. now owns 2,192 shares of the utilities provider’s stock valued at $303,000 after purchasing an additional 107 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of DTE Energy during the first quarter worth approximately $567,000. Goldman Sachs Group Inc. raised its holdings in DTE Energy by 65.3% in the first 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 in the last quarter. Focus Partners Wealth lifted its stake in DTE Energy by 3.6% in the first quarter. Focus Partners Wealth now owns 181,905 shares of the utilities provider’s stock worth $25,152,000 after acquiring an additional 6,375 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in DTE Energy by 9.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 53,714 shares of the utilities provider’s stock worth $7,115,000 after acquiring an additional 4,838 shares in the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Lisa A. Muschong sold 1,600 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $140.53, for a total value of $224,848.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of DTE Energy from $145.00 to $147.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. BMO Capital Markets increased their target price on DTE Energy from $140.00 to $144.00 and gave the company a “market perform” rating in a report on Monday, August 25th. UBS Group lifted their price target on DTE Energy from $148.00 to $158.00 and gave the stock a “buy” rating in a report on Friday, October 10th. Morgan Stanley lowered their price objective on DTE Energy from $140.00 to $137.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Finally, Barclays raised their target price on DTE Energy from $138.00 to $148.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, DTE Energy has a consensus rating of “Moderate Buy” and an average price target of $146.08.

DTE Energy Stock Performance

NYSE DTE opened at $141.44 on Friday. The company has a fifty day moving average of $138.52 and a two-hundred day moving average of $136.01. The company has a market capitalization of $29.36 billion, a PE ratio of 20.35, a P/E/G ratio of 3.05 and a beta of 0.42. 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 posted its earnings results on Tuesday, July 29th. The utilities provider reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.01). The firm 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%. As a group, analysts expect that DTE Energy Company will post 7.18 earnings per share for the current year.

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.