Sumitomo Mitsui Trust Group Inc. Decreases Position in DTE Energy Company $DTE

Sumitomo Mitsui Trust Group Inc. lessened its holdings in DTE Energy Company (NYSE:DTE) by 1.3% during the second quarter, Holdings Channel.com reports. The firm owned 508,745 shares of the utilities provider’s stock after selling 6,724 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in DTE Energy were worth $67,388,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Ground Swell Capital LLC purchased a new position in DTE Energy in the 2nd quarter worth $201,000. Asset Management One Co. Ltd. raised its stake in shares of DTE Energy by 2.1% during the second quarter. Asset Management One Co. Ltd. now owns 113,394 shares of the utilities provider’s stock valued at $15,020,000 after acquiring an additional 2,372 shares during the last quarter. LifeWealth Investments LLC raised its stake in shares of DTE Energy by 15.3% during the second quarter. LifeWealth Investments LLC now owns 2,816 shares of the utilities provider’s stock valued at $373,000 after acquiring an additional 374 shares during the last quarter. Ethic Inc. raised its stake in shares of DTE Energy by 14.8% during the second quarter. Ethic Inc. now owns 9,206 shares of the utilities provider’s stock valued at $1,212,000 after acquiring an additional 1,186 shares during the last quarter. Finally, Brookstone Capital Management raised its stake in shares of DTE Energy by 63.5% during the second quarter. Brookstone Capital Management now owns 4,973 shares of the utilities provider’s stock valued at $659,000 after acquiring an additional 1,931 shares during the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Up 0.2%

Shares of DTE stock opened at $141.77 on Monday. The company has a 50 day simple moving average of $138.78 and a two-hundred day simple moving average of $136.47. The company has a current ratio of 0.94, a quick ratio of 0.57 and a debt-to-equity ratio of 1.96. The stock has a market cap 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. DTE Energy Company has a 12 month low of $115.59 and a 12 month high of $143.79.

DTE Energy (NYSE:DTE) last announced 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 during the quarter, compared to analysts’ expectations of $2.67 billion. DTE Energy had a return on equity of 12.72% and a net margin of 10.16%. On average, research analysts expect that DTE Energy Company will post 7.18 earnings per share for the current 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 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 directly owned 4,153 shares of the company’s stock, valued at $583,621.09. This represents a 27.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on DTE. UBS Group increased their price objective on DTE Energy from $148.00 to $158.00 and gave the stock a “buy” rating in a report on Friday, October 10th. Barclays boosted their price objective on shares of DTE Energy from $138.00 to $148.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 14th. Weiss Ratings reissued a “buy (b-)” rating on shares of DTE Energy in a research note on Friday. Wall Street Zen upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, October 19th. Finally, Morgan Stanley upped their target price on shares of DTE Energy from $137.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $148.60.

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.