Chevy Chase Trust Holdings LLC lifted its position in DTE Energy Company (NYSE:DTE – Free Report) by 0.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 109,699 shares of the utilities provider’s stock after buying an additional 919 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in DTE Energy were worth $14,531,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Nordea Investment Management AB raised its holdings in shares of DTE Energy by 5.3% in the second quarter. Nordea Investment Management AB now owns 208,818 shares of the utilities provider’s stock valued at $27,470,000 after acquiring an additional 10,586 shares in the last quarter. New York State Teachers Retirement System raised its holdings in shares of DTE Energy by 9.2% in the second quarter. New York State Teachers Retirement System now owns 195,858 shares of the utilities provider’s stock valued at $25,943,000 after acquiring an additional 16,579 shares in the last quarter. Triton Wealth Management PLLC bought a new stake in shares of DTE Energy in the second quarter valued at about $258,000. Harbour Investments Inc. raised its holdings in shares of DTE Energy by 4.1% in the second quarter. Harbour Investments Inc. now owns 4,017 shares of the utilities provider’s stock valued at $532,000 after acquiring an additional 157 shares in the last quarter. Finally, Bayforest Capital Ltd bought a new stake in shares of DTE Energy in the second quarter valued at about $579,000. 76.06% of the stock is currently owned by institutional investors.
Insider Activity
In other news, VP Lisa A. Muschong sold 1,600 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $140.53, for a total transaction of $224,848.00. Following the transaction, the vice president owned 4,153 shares in the company, valued at $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 SEC, which is available through this hyperlink. 0.33% of the stock is currently owned by company insiders.
DTE Energy Stock Performance
DTE Energy (NYSE:DTE – Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.01). DTE Energy had a net margin of 10.16% and a return on equity of 12.72%. The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.67 billion. As a group, equities analysts anticipate that DTE Energy Company will post 7.18 EPS for the current fiscal year.
Analysts Set New Price Targets
Several analysts recently weighed in on DTE shares. JPMorgan Chase & Co. lifted their price objective on DTE Energy from $145.00 to $147.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. Wall Street Zen upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Sunday. Weiss Ratings reiterated a “buy (b-)” rating on shares of DTE Energy in a report on Wednesday, October 8th. Scotiabank reiterated a “sector perform” rating and issued a $147.00 target price on shares of DTE Energy in a report on Friday, October 3rd. Finally, Morgan Stanley reduced their target price on shares of DTE Energy from $140.00 to $137.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $146.08.
Check Out Our Latest Stock Analysis on DTE
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.
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