Lake Street Advisors Group LLC Invests $200,000 in DTE Energy (NYSE:DTE)

Lake Street Advisors Group LLC acquired a new position in shares of DTE Energy (NYSE:DTE) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,548 shares of the utilities provider’s stock, valued at approximately $200,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DTE. Wealthcare Advisory Partners LLC bought a new position in DTE Energy during the 1st quarter valued at about $225,000. Wealth Enhancement Advisory Services LLC lifted its holdings in DTE Energy by 15.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,990 shares of the utilities provider’s stock valued at $1,569,000 after purchasing an additional 1,911 shares during the last quarter. Founders Financial Securities LLC bought a new position in DTE Energy during the 1st quarter valued at about $802,000. Denali Advisors LLC bought a new position in DTE Energy during the 1st quarter valued at about $34,000. Finally, First Trust Direct Indexing L.P. lifted its holdings in DTE Energy by 8.2% during the 1st quarter. First Trust Direct Indexing L.P. now owns 6,949 shares of the utilities provider’s stock valued at $779,000 after purchasing an additional 529 shares during the last quarter. 76.06% of the stock is owned by institutional investors.

DTE Energy Stock Down 2.5 %

Shares of NYSE DTE opened at $126.57 on Monday. The stock has a market cap of $26.19 billion, a P/E ratio of 20.72, a P/E/G ratio of 2.29 and a beta of 0.67. The firm has a 50 day moving average price of $125.77 and a 200 day moving average price of $118.01. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.69. DTE Energy has a 52-week low of $92.58 and a 52-week high of $131.66.

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of DTE Energy in a research note on Monday, October 21st. They issued a “hold” rating and a $137.00 target price for the company. Bank of America boosted their target price on shares of DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, August 11th. Mizuho boosted their target price on shares of DTE Energy from $121.00 to $133.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Finally, Barclays boosted their target price on shares of DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $131.46.

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.