Envestnet Portfolio Solutions Inc. Acquires 714 Shares of DTE Energy Company $DTE

Envestnet Portfolio Solutions Inc. raised its holdings in DTE Energy Company (NYSE:DTE) by 12.8% during the second quarter, HoldingsChannel.com reports. The fund owned 6,273 shares of the utilities provider’s stock after purchasing an additional 714 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in DTE Energy were worth $831,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DTE. Wall Street Zen raised DTE Energy from a “sell” rating to a “hold” rating in a research note on Sunday. BMO Capital Markets lifted their price target on DTE Energy from $140.00 to $144.00 and gave the company a “market perform” rating in a research note on Monday, August 25th. Weiss Ratings reissued a “buy (b-)” rating on shares of DTE Energy in a research note on Wednesday, October 8th. Scotiabank reissued a “sector perform” rating and set a $147.00 price target on shares of DTE Energy in a research note on Friday, October 3rd. Finally, UBS Group lifted their price target on DTE Energy from $148.00 to $158.00 and gave the company a “buy” rating in a research note on Friday, October 10th. Seven research 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.com, DTE Energy has a consensus rating of “Moderate Buy” and an average price target of $146.08.

Insider Transactions at DTE Energy

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of the business’s 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 transaction, the vice president directly owned 4,153 shares of the company’s stock, valued at approximately $583,621.09. The trade was a 27.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.33% of the company’s stock.

DTE Energy Price Performance

Shares of DTE opened at $141.99 on Monday. 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 50 day moving average price is $138.55 and its two-hundred day moving average price is $136.00. The firm has a market cap of $29.48 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 3.04 and a beta of 0.42.

DTE Energy (NYSE:DTE) last issued its quarterly 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). DTE Energy had a net margin of 10.16% and a return on equity of 12.72%. The business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.67 billion. On average, equities analysts anticipate that DTE Energy Company will post 7.18 EPS for the current 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.