Charles Schwab Investment Management Inc. Boosts Stake in DTE Energy (NYSE:DTE)

Charles Schwab Investment Management Inc. boosted its holdings in shares of DTE Energy (NYSE:DTE) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,274,837 shares of the utilities provider’s stock after acquiring an additional 14,937 shares during the period. Charles Schwab Investment Management Inc.’s holdings in DTE Energy were worth $163,702,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Cetera Advisors LLC acquired a new stake in shares of DTE Energy in the first quarter valued at approximately $708,000. Cetera Investment Advisers raised its holdings in shares of DTE Energy by 242.0% during the 1st quarter. Cetera Investment Advisers now owns 29,306 shares of the utilities provider’s stock worth $3,286,000 after acquiring an additional 20,737 shares during the period. Bank of Montreal Can boosted its position in shares of DTE Energy by 19.0% during the 2nd quarter. Bank of Montreal Can now owns 269,031 shares of the utilities provider’s stock valued at $30,220,000 after acquiring an additional 42,960 shares during the last quarter. Entropy Technologies LP grew its holdings in shares of DTE Energy by 10.9% in the third quarter. Entropy Technologies LP now owns 45,182 shares of the utilities provider’s stock valued at $5,802,000 after purchasing an additional 4,441 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC increased its position in DTE Energy by 319.6% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 10,121 shares of the utilities provider’s stock worth $1,124,000 after purchasing an additional 7,709 shares during the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DTE. Barclays increased their price target on shares of DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Wells Fargo & Company raised their target price on DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Bank of America upped their price target on DTE Energy from $131.00 to $136.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Morgan Stanley cut their price objective on DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday. Finally, KeyCorp upped their price objective on shares of DTE Energy from $136.00 to $138.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $131.46.

DTE Energy Price Performance

DTE Energy stock opened at $124.60 on Monday. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.76. DTE Energy has a 52-week low of $102.17 and a 52-week high of $131.66. The firm has a market cap of $25.80 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 2.29 and a beta of 0.68. The company’s 50 day moving average is $124.66 and its two-hundred day moving average is $119.70.

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.