APG Asset Management N.V. Reduces Stock Position in DTE Energy (NYSE:DTE)

APG Asset Management N.V. trimmed its holdings in shares of DTE Energy (NYSE:DTE) by 6.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 492,325 shares of the utilities provider’s stock after selling 32,637 shares during the quarter. APG Asset Management N.V.’s holdings in DTE Energy were worth $50,994,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in DTE. Janus Henderson Group PLC raised its position in DTE Energy by 6,964.9% during the first quarter. Janus Henderson Group PLC now owns 2,090,350 shares of the utilities provider’s stock valued at $234,410,000 after purchasing an additional 2,060,762 shares during the period. Clearbridge Investments LLC raised its holdings in DTE Energy by 224.7% during the 1st quarter. Clearbridge Investments LLC now owns 2,538,106 shares of the utilities provider’s stock valued at $284,623,000 after buying an additional 1,756,459 shares during the period. Point72 Asset Management L.P. bought a new stake in DTE Energy in the fourth quarter worth $74,478,000. Capital Research Global Investors boosted its stake in DTE Energy by 1.9% during the fourth quarter. Capital Research Global Investors now owns 20,933,030 shares of the utilities provider’s stock worth $2,308,076,000 after buying an additional 399,646 shares during the period. Finally, Balyasny Asset Management L.P. boosted its stake in DTE Energy by 109.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 555,072 shares of the utilities provider’s stock worth $61,202,000 after buying an additional 289,663 shares during the period. Institutional investors own 76.06% of the company’s stock.

Wall Street Analyst Weigh In

DTE has been the topic of several recent analyst reports. Morgan Stanley increased their target price on shares of DTE Energy from $121.00 to $128.00 and gave the company an “overweight” rating in a research note on Wednesday. BMO Capital Markets raised their price objective on shares of DTE Energy from $126.00 to $135.00 and gave the stock a “market perform” rating in a research note on Friday, September 6th. KeyCorp upped their target price on DTE Energy from $126.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. 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. Finally, LADENBURG THALM/SH SH started coverage on DTE Energy in a research report on Wednesday, August 14th. They issued a “buy” rating and a $131.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, DTE Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.17.

DTE Energy Stock Performance

NYSE:DTE opened at $125.54 on Friday. 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 firm has a 50-day simple moving average of $122.46 and a 200-day simple moving average of $115.29. DTE Energy has a one year low of $90.14 and a one year high of $127.59. The firm has a market cap of $25.98 billion, a P/E ratio of 20.55, a P/E/G ratio of 2.32 and a beta of 0.67.

DTE Energy (NYSE:DTE) last released its quarterly 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. The company 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 period last year, the business posted $0.99 earnings per share. Equities analysts anticipate that DTE Energy will post 6.7 EPS for the current fiscal 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.