Bar Harbor Wealth Management Grows Stake in DTE Energy Company $DTE

Bar Harbor Wealth Management raised its stake in DTE Energy Company (NYSE:DTE) by 28.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,516 shares of the utilities provider’s stock after acquiring an additional 557 shares during the period. Bar Harbor Wealth Management’s holdings in DTE Energy were worth $333,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Northern Trust Corp grew its stake in shares of DTE Energy by 0.5% in the first quarter. Northern Trust Corp now owns 1,836,832 shares of the utilities provider’s stock worth $253,979,000 after acquiring an additional 9,664 shares during the last quarter. Goldman Sachs Group Inc. grew 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 worth $223,019,000 after acquiring an additional 637,378 shares during the last quarter. JPMorgan Chase & Co. grew its stake 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 worth $194,341,000 after acquiring an additional 512,567 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of DTE Energy by 0.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,316,107 shares of the utilities provider’s stock worth $181,978,000 after acquiring an additional 9,443 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in shares of DTE Energy by 1.2% in the first quarter. Royal Bank of Canada now owns 1,173,220 shares of the utilities provider’s stock worth $162,221,000 after acquiring an additional 13,884 shares during the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Stock Down 1.1%

DTE stock opened at $140.05 on Friday. DTE Energy Company has a fifty-two week low of $115.59 and a fifty-two week high of $143.79. The business’s 50-day moving average is $138.36 and its two-hundred day moving average is $135.83. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.57 and a current ratio of 0.94. The company has a market cap of $29.07 billion, a price-to-earnings ratio of 20.15, a P/E/G ratio of 2.81 and a beta of 0.42.

DTE Energy (NYSE:DTE) last posted 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 net margin of 10.16% and a return on equity of 12.72%. The firm had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.67 billion. As a group, analysts forecast that DTE Energy Company will post 7.18 earnings per share for the current year.

Insiders Place Their Bets

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $140.53, for a total value of $224,848.00. Following the transaction, the vice president owned 4,153 shares of the company’s stock, valued at approximately $583,621.09. This represents a 27.81% decrease in their ownership of the stock. 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 Analysts Forecast Growth

A number of equities research analysts have recently commented on DTE shares. Scotiabank reissued a “sector perform” rating and issued a $147.00 target price on shares of DTE Energy in a research note on Friday, October 3rd. BMO Capital Markets increased their price objective on DTE Energy from $140.00 to $144.00 and gave the company a “market perform” rating in a research report on Monday, August 25th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of DTE Energy in a research report on Wednesday. Wall Street Zen raised DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, October 3rd. Finally, Barclays increased their price objective on DTE Energy from $136.00 to $138.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $144.00.

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.