DTE Energy (NYSE:DTE) Shares Purchased by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. boosted its position in DTE Energy (NYSE:DTE) by 8.2% in the 2nd quarter, Holdings Channel reports. The firm owned 8,475 shares of the utilities provider’s stock after acquiring an additional 639 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in DTE Energy were worth $941,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of DTE. Principal Securities Inc. acquired a new stake in shares of DTE Energy in the 4th quarter worth $54,000. Envestnet Portfolio Solutions Inc. increased its stake in shares of DTE Energy by 5.5% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,003 shares of the utilities provider’s stock worth $331,000 after acquiring an additional 157 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of DTE Energy in the 4th quarter worth $399,000. BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of DTE Energy by 2.1% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 7,176 shares of the utilities provider’s stock worth $791,000 after acquiring an additional 147 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of DTE Energy by 15.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 50,084 shares of the utilities provider’s stock worth $5,522,000 after acquiring an additional 6,797 shares during the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Stock Performance

Shares of DTE opened at $123.53 on Friday. The stock has a 50-day simple moving average of $121.60 and a 200-day simple moving average of $114.87. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.69. The stock has a market capitalization of $25.56 billion, a PE ratio of 20.22, a PEG ratio of 2.28 and a beta of 0.67. DTE Energy has a 1 year low of $90.14 and a 1 year high of $127.59.

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

Analyst Ratings Changes

A number of research firms have recently weighed in on DTE. Bank of America increased their price target on DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Scotiabank increased their price target on DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. KeyCorp increased their price target on DTE Energy from $126.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday. Morgan Stanley increased their price target on DTE Energy from $114.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Finally, Barclays increased their price target on DTE Energy from $123.00 to $128.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $127.58.

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.