626 Financial LLC Acquires New Stake in DTE Energy Company $DTE

626 Financial LLC bought a new position in shares of DTE Energy Company (NYSE:DTE) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 1,820 shares of the utilities provider’s stock, valued at approximately $241,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Northern Trust Corp increased its stake in DTE Energy by 0.5% during the first quarter. Northern Trust Corp now owns 1,836,832 shares of the utilities provider’s stock worth $253,979,000 after purchasing an additional 9,664 shares during the period. Goldman Sachs Group Inc. boosted its stake 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 valued at $223,019,000 after purchasing an additional 637,378 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of DTE Energy by 57.4% in the first quarter. JPMorgan Chase & Co. now owns 1,405,516 shares of the utilities provider’s stock valued at $194,341,000 after purchasing an additional 512,567 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in DTE Energy by 0.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,316,107 shares of the utilities provider’s stock worth $181,978,000 after buying an additional 9,443 shares during the period. Finally, Royal Bank of Canada lifted its holdings in DTE Energy by 1.2% during the 1st quarter. Royal Bank of Canada now owns 1,173,220 shares of the utilities provider’s stock worth $162,221,000 after buying an additional 13,884 shares in the last quarter. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of the firm’s stock in a transaction that occurred 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.33% of the company’s stock.

DTE Energy Stock Up 1.3%

DTE Energy stock opened at $141.84 on Tuesday. The stock’s fifty day moving average is $138.11 and its two-hundred day moving average is $135.71. The stock has a market cap of $29.44 billion, a PE ratio of 20.41, a P/E/G ratio of 2.78 and a beta of 0.42. DTE Energy Company has a 1-year low of $115.59 and a 1-year high of $142.41. 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 released 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 business had revenue of $2.91 billion during 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%. On average, sell-side analysts expect that DTE Energy Company will post 7.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on DTE. Barclays boosted their price target on shares of DTE Energy from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of DTE Energy in a report on Saturday, September 27th. JPMorgan Chase & Co. upped their price target on DTE Energy from $145.00 to $147.00 and gave the stock a “neutral” rating in a report on Tuesday, July 15th. Morgan Stanley reduced their price target on DTE Energy from $140.00 to $137.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. Finally, Scotiabank reissued a “sector perform” rating and set a $147.00 price objective on shares of DTE Energy in a research report on Friday. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, DTE Energy currently has an average rating of “Moderate Buy” and a consensus target price of $144.00.

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.