Thrivent Financial for Lutherans Sells 3,360 Shares of DTE Energy (NYSE:DTE)

Thrivent Financial for Lutherans cut its holdings in shares of DTE Energy (NYSE:DTE) by 3.7% during the second quarter, Holdings Channel.com reports. The fund owned 86,674 shares of the utilities provider’s stock after selling 3,360 shares during the period. Thrivent Financial for Lutherans’ holdings in DTE Energy were worth $9,622,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Sei Investments Co. lifted its holdings in DTE Energy by 3.6% in the 2nd quarter. Sei Investments Co. now owns 62,448 shares of the utilities provider’s stock worth $6,933,000 after purchasing an additional 2,147 shares in the last quarter. ASB Consultores LLC raised its position in shares of DTE Energy by 4.9% during the second quarter. ASB Consultores LLC now owns 2,179 shares of the utilities provider’s stock valued at $242,000 after buying an additional 101 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of DTE Energy by 17.8% in the second quarter. Canada Pension Plan Investment Board now owns 449,985 shares of the utilities provider’s stock worth $49,953,000 after buying an additional 68,000 shares in the last quarter. XTX Topco Ltd bought a new position in shares of DTE Energy during the second quarter worth $855,000. Finally, Seven Eight Capital LP purchased a new position in DTE Energy during the second quarter valued at $427,000. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Scotiabank boosted their price target on shares of DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Morgan Stanley increased their price target on DTE Energy from $121.00 to $128.00 and gave the company an “overweight” rating in a research note on Wednesday. BMO Capital Markets lifted their price objective on DTE Energy from $126.00 to $135.00 and gave the stock a “market perform” rating in a research note on Friday, September 6th. Bank of America increased their target price on DTE Energy from $131.00 to $136.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, August 11th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $128.17.

DTE Energy Price Performance

DTE stock opened at $125.56 on Thursday. The stock has a market cap of $25.98 billion, a PE ratio of 20.55, a P/E/G ratio of 2.32 and a beta of 0.67. DTE Energy has a 12 month low of $90.14 and a 12 month high of $127.59. The company has a 50-day moving average price of $122.29 and a 200 day moving average price of $115.22. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73.

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

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.