Hartford Investment Management Co. Lowers Stock Position in DTE Energy (NYSE:DTE)

Hartford Investment Management Co. cut its position in shares of DTE Energy (NYSE:DTE) by 1.8% during the 3rd quarter, Holdings Channel reports. The firm owned 13,037 shares of the utilities provider’s stock after selling 242 shares during the quarter. Hartford Investment Management Co.’s holdings in DTE Energy were worth $1,674,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DTE. ESL Trust Services LLC purchased a new position in shares of DTE Energy in the 1st quarter worth approximately $27,000. Ridgewood Investments LLC bought a new stake in DTE Energy during the second quarter worth $31,000. Denali Advisors LLC purchased a new position in DTE Energy in the first quarter worth $34,000. Salomon & Ludwin LLC grew its stake in DTE Energy by 82.3% in the 1st quarter. Salomon & Ludwin LLC now owns 432 shares of the utilities provider’s stock valued at $48,000 after purchasing an additional 195 shares during the period. Finally, Fairscale Capital LLC purchased a new stake in shares of DTE Energy during the 2nd quarter valued at $54,000. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

DTE Energy Stock Down 0.2 %

Shares of NYSE DTE opened at $129.74 on Friday. The business has a 50-day simple moving average of $125.52 and a two-hundred day simple moving average of $117.67. DTE Energy has a 52 week low of $92.58 and a 52 week high of $131.66. The company has a market cap of $26.85 billion, a P/E ratio of 21.23, a P/E/G ratio of 2.29 and a beta of 0.67. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 1.73.

DTE Energy (NYSE:DTE) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.22. The company had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.65 billion. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. During the same period last year, the business earned $0.99 earnings per share. Research analysts anticipate that DTE Energy will post 6.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on DTE shares. Bank of America boosted their price target 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. Jefferies Financial Group started coverage on shares of DTE Energy in a research report on Monday. They set a “hold” rating and a $137.00 target price for the company. Mizuho lifted their price target on shares of DTE Energy from $121.00 to $133.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. LADENBURG THALM/SH SH initiated coverage on DTE Energy in a research note on Wednesday, August 14th. They issued a “buy” rating and a $131.00 price objective on the stock. Finally, KeyCorp raised their target price on DTE Energy from $136.00 to $138.00 and gave the stock an “overweight” rating in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $130.54.

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.