Citigroup Inc. Cuts Stock Position in DTE Energy (NYSE:DTE)

Citigroup Inc. reduced its position in DTE Energy (NYSE:DTE) by 14.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 180,750 shares of the utilities provider’s stock after selling 31,054 shares during the quarter. Citigroup Inc. owned 0.09% of DTE Energy worth $23,210,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Advisors Asset Management Inc. lifted its holdings in shares of DTE Energy by 70.9% in the 1st quarter. Advisors Asset Management Inc. now owns 6,753 shares of the utilities provider’s stock worth $757,000 after acquiring an additional 2,801 shares during the last quarter. Lazard Asset Management LLC raised its position in DTE Energy by 37,250.0% in the 1st quarter. Lazard Asset Management LLC now owns 2,988 shares of the utilities provider’s stock worth $334,000 after purchasing an additional 2,980 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in DTE Energy by 1.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 293,958 shares of the utilities provider’s stock worth $32,966,000 after purchasing an additional 3,672 shares during the last quarter. Tidal Investments LLC boosted its position in DTE Energy by 9.2% during the first quarter. Tidal Investments LLC now owns 4,807 shares of the utilities provider’s stock valued at $539,000 after buying an additional 405 shares during the period. Finally, Coppell Advisory Solutions Corp. bought a new position in shares of DTE Energy during the first quarter valued at about $233,000. 76.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on DTE shares. LADENBURG THALM/SH SH initiated coverage on DTE Energy in a research report on Wednesday, August 14th. They set a “buy” rating and a $131.00 price target on the stock. Wells Fargo & Company lifted their target price on shares of DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. BMO Capital Markets increased their price target on shares of DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. KeyCorp upped their price objective on shares of DTE Energy from $136.00 to $138.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Finally, Bank of America increased their target price on shares of DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $131.46.

DTE Energy Stock Performance

Shares of DTE Energy stock opened at $125.44 on Wednesday. The business has a fifty day simple moving average of $124.63 and a two-hundred day simple moving average of $119.83. The firm has a market capitalization of $25.98 billion, a P/E ratio of 17.00, a P/E/G ratio of 2.30 and a beta of 0.68. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 1.76. DTE Energy has a 12 month low of $102.17 and a 12 month high of $131.66.

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.