R Squared Ltd Lowers Position in DTE Energy Company $DTE

R Squared Ltd lowered its stake in shares of DTE Energy Company (NYSE:DTE) by 29.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,105 shares of the utilities provider’s stock after selling 885 shares during the quarter. R Squared Ltd’s holdings in DTE Energy were worth $279,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Northern Trust Corp increased its holdings in shares of DTE Energy by 0.5% during the first quarter. Northern Trust Corp now owns 1,836,832 shares of the utilities provider’s stock valued at $253,979,000 after acquiring an additional 9,664 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of DTE Energy by 65.3% during 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 in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of DTE Energy by 57.4% during the first 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 in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of DTE Energy by 0.7% during the first 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 in the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of DTE Energy by 1.2% during the first 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 in the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

Insider Transactions at DTE Energy

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 sale, the vice president owned 4,153 shares of the company’s stock, valued at approximately $583,621.09. This trade represents a 27.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

DTE has been the topic of several recent analyst reports. UBS Group upped their price objective on shares of DTE Energy from $148.00 to $158.00 and gave the company a “buy” rating in a report on Friday, October 10th. JPMorgan Chase & Co. increased their price target on shares of DTE Energy from $145.00 to $147.00 and gave the stock a “neutral” rating in a report on Tuesday, July 15th. BMO Capital Markets increased their price target on shares of DTE Energy from $140.00 to $144.00 and gave the stock a “market perform” rating in a report on Monday, August 25th. Scotiabank reiterated a “sector perform” rating and issued a $147.00 price target on shares of DTE Energy in a report on Friday, October 3rd. Finally, Morgan Stanley increased their price target on shares of DTE Energy from $137.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, DTE Energy has an average rating of “Moderate Buy” and a consensus price target of $148.60.

DTE Energy Price Performance

Shares of NYSE DTE opened at $141.77 on Friday. The stock has a market capitalization of $29.43 billion, a price-to-earnings ratio of 20.40, a PEG 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. The firm’s 50 day simple moving average is $138.78 and its 200-day simple moving average is $136.42. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.94 and a quick ratio of 0.57.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $1.36 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 analyst estimates of $2.67 billion. DTE Energy had a return on equity of 12.72% and a net margin of 10.16%. Analysts expect 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.