Creative Planning Purchases 3,893 Shares of DTE Energy (NYSE:DTE)

Creative Planning boosted its position in shares of DTE Energy (NYSE:DTE) by 6.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 66,907 shares of the utilities provider’s stock after purchasing an additional 3,893 shares during the period. Creative Planning’s holdings in DTE Energy were worth $8,592,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Procyon Advisors LLC raised its stake in shares of DTE Energy by 4.8% in the third quarter. Procyon Advisors LLC now owns 10,884 shares of the utilities provider’s stock worth $1,398,000 after acquiring an additional 503 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in shares of DTE Energy by 41.7% in the third quarter. Exchange Traded Concepts LLC now owns 8,326 shares of the utilities provider’s stock worth $1,069,000 after acquiring an additional 2,449 shares during the last quarter. Carnegie Investment Counsel raised its stake in shares of DTE Energy by 6.4% in the third quarter. Carnegie Investment Counsel now owns 4,546 shares of the utilities provider’s stock worth $584,000 after acquiring an additional 274 shares during the last quarter. CWM LLC grew its position in shares of DTE Energy by 2.1% during the 3rd quarter. CWM LLC now owns 8,979 shares of the utilities provider’s stock worth $1,153,000 after buying an additional 186 shares during the period. Finally, Peddock Capital Advisors LLC grew its position in shares of DTE Energy by 4.4% during the 3rd quarter. Peddock Capital Advisors LLC now owns 8,295 shares of the utilities provider’s stock worth $1,065,000 after buying an additional 351 shares during the period. 76.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Barclays lifted their price target on shares of DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Jefferies Financial Group began coverage on shares of DTE Energy in a report on Monday. They set a “hold” rating and a $137.00 price objective for the company. KeyCorp boosted their price objective on shares of DTE Energy from $136.00 to $138.00 and gave the company an “overweight” rating in a report on Tuesday. Wells Fargo & Company increased their price objective on shares of DTE Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, August 11th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $130.54.

DTE Energy Stock Performance

Shares of DTE stock opened at $128.18 on Wednesday. The stock has a market cap of $26.53 billion, a P/E ratio of 20.98, a P/E/G ratio of 2.29 and a beta of 0.67. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.69 and a quick ratio of 0.52. The company has a fifty day moving average price of $125.36 and a two-hundred day moving average price of $117.58. DTE Energy has a one year low of $92.58 and a one year high of $129.53.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.22. The firm had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.65 billion. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. During the same quarter last year, the company posted $0.99 earnings per share. As a group, equities analysts predict that DTE Energy will post 6.7 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.