Sage Mountain Advisors LLC Grows Position in DTE Energy Company $DTE

Sage Mountain Advisors LLC grew its position in DTE Energy Company (NYSE:DTE) by 11.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,566 shares of the utilities provider’s stock after purchasing an additional 269 shares during the period. Sage Mountain Advisors LLC’s holdings in DTE Energy were worth $340,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DTE. Northern Trust Corp raised its holdings in DTE Energy by 0.5% in the first quarter. Northern Trust Corp now owns 1,836,832 shares of the utilities provider’s stock valued at $253,979,000 after buying an additional 9,664 shares during the period. Goldman Sachs Group Inc. increased its position in shares of 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 worth $223,019,000 after acquiring an additional 637,378 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of 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 shares of 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 shares of 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 and hedge funds own 76.06% of the company’s stock.

DTE Energy Trading Up 0.2%

DTE opened at $141.77 on Monday. The firm has a market capitalization of $29.43 billion, a P/E ratio of 20.40, a P/E/G ratio of 3.04 and a beta of 0.42. The firm’s 50 day moving average is $138.78 and its 200-day moving average is $136.47. DTE Energy Company has a 52-week low of $115.59 and a 52-week high of $143.79. The company has a quick ratio of 0.57, a current ratio of 0.94 and a debt-to-equity ratio of 1.96.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share (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 analysts’ expectations of $2.67 billion. DTE Energy had a net margin of 10.16% and a return on equity of 12.72%. Analysts expect that DTE Energy Company will post 7.18 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on DTE. Scotiabank reissued a “sector perform” rating and issued a $147.00 target price on shares of DTE Energy in a research note on Friday, October 3rd. UBS Group raised their target price on DTE Energy from $148.00 to $158.00 and gave the company a “buy” rating in a report on Friday, October 10th. Barclays raised their target price on DTE Energy from $138.00 to $148.00 and gave the company an “equal weight” rating in a report on Tuesday, October 14th. Morgan Stanley raised their target price on DTE Energy from $137.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Wall Street Zen upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, October 19th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $148.60.

Insider Activity

In related news, VP Lisa A. Muschong sold 1,600 shares of DTE Energy stock in a transaction on Thursday, August 14th. The shares were 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 owned 4,153 shares in the company, 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 is accessible through this link. 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.