626 Financial LLC Takes Position in DTE Energy Company $DTE

626 Financial LLC acquired a new position in shares of DTE Energy Company (NYSE:DTE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,820 shares of the utilities provider’s stock, valued at approximately $241,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. WNY Asset Management LLC lifted its stake in shares of DTE Energy by 224.0% in the second quarter. WNY Asset Management LLC now owns 14,119 shares of the utilities provider’s stock worth $1,870,000 after buying an additional 9,761 shares in the last quarter. New York Life Investment Management LLC raised its holdings in shares of DTE Energy by 1.8% during the second quarter. New York Life Investment Management LLC now owns 28,087 shares of the utilities provider’s stock valued at $3,720,000 after purchasing an additional 503 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of DTE Energy by 6.8% during the second quarter. Envestnet Asset Management Inc. now owns 173,867 shares of the utilities provider’s stock valued at $23,030,000 after purchasing an additional 11,114 shares during the last quarter. Wealthfront Advisers LLC raised its holdings in shares of DTE Energy by 11.8% during the second quarter. Wealthfront Advisers LLC now owns 23,340 shares of the utilities provider’s stock valued at $3,092,000 after purchasing an additional 2,472 shares during the last quarter. Finally, Carrera Capital Advisors raised its holdings in shares of DTE Energy by 53.3% during the second quarter. Carrera Capital Advisors now owns 3,342 shares of the utilities provider’s stock valued at $446,000 after purchasing an additional 1,162 shares during the last quarter. Institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Performance

Shares of NYSE DTE opened at $139.68 on Wednesday. The firm has a fifty day moving average price of $138.86 and a 200-day moving average price of $136.62. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.94 and a quick ratio of 0.57. The stock has a market cap of $29.00 billion, a PE ratio of 20.10, a price-to-earnings-growth ratio of 3.03 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.

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

Insider Buying and Selling at DTE Energy

In related news, VP Lisa A. Muschong sold 1,600 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $140.53, for a total transaction of $224,848.00. Following the completion of the transaction, the vice president owned 4,153 shares in the company, valued at approximately $583,621.09. This represents a 27.81% decrease in their ownership of the stock. The sale 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.

Wall Street Analyst Weigh In

DTE has been the subject of a number of research reports. JPMorgan Chase & Co. upped their target price 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. Barclays upped their target price on shares of DTE Energy from $138.00 to $148.00 and gave the company an “equal weight” rating in a report on Tuesday, October 14th. BMO Capital Markets upped their target price on shares of DTE Energy from $140.00 to $144.00 and gave the company a “market perform” rating in a report on Monday, August 25th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of DTE Energy in a report on Wednesday, October 8th. Finally, Morgan Stanley upped their target price on shares of DTE Energy from $137.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, DTE Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.90.

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.