Beck Bode LLC Buys New Stake in DTE Energy (NYSE:DTE)

Beck Bode LLC purchased a new stake in DTE Energy (NYSE:DTE) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 120,304 shares of the utilities provider’s stock, valued at approximately $13,355,000. DTE Energy makes up about 2.7% of Beck Bode LLC’s investment portfolio, making the stock its 9th largest holding.

Several other hedge funds also recently added to or reduced their stakes in DTE. Aptus Capital Advisors LLC boosted its stake in shares of DTE Energy by 3.7% in the second quarter. Aptus Capital Advisors LLC now owns 2,632 shares of the utilities provider’s stock valued at $292,000 after purchasing an additional 94 shares during the period. TIAA Trust National Association lifted its holdings in DTE Energy by 2.9% in the 1st quarter. TIAA Trust National Association now owns 3,771 shares of the utilities provider’s stock worth $423,000 after buying an additional 106 shares in the last quarter. S.A. Mason LLC lifted its holdings in DTE Energy by 10.5% in the 2nd quarter. S.A. Mason LLC now owns 1,120 shares of the utilities provider’s stock worth $124,000 after buying an additional 106 shares in the last quarter. Texas Permanent School Fund Corp boosted its position in DTE Energy by 0.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 41,908 shares of the utilities provider’s stock valued at $4,700,000 after buying an additional 107 shares during the last quarter. Finally, Retirement Systems of Alabama grew its stake in shares of DTE Energy by 0.3% during the first quarter. Retirement Systems of Alabama now owns 45,568 shares of the utilities provider’s stock valued at $5,110,000 after acquiring an additional 127 shares in the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DTE. KeyCorp boosted their price target on DTE Energy from $126.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. LADENBURG THALM/SH SH initiated coverage on DTE Energy in a research note on Wednesday, August 14th. They set a “buy” rating and a $131.00 target price for the company. BMO Capital Markets lifted their price target 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. Wells Fargo & Company increased their price objective on shares of DTE Energy from $125.00 to $133.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, Morgan Stanley boosted their target price on shares of DTE Energy from $121.00 to $128.00 and gave the stock an “overweight” rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $128.17.

DTE Energy Trading Up 1.4 %

Shares of NYSE DTE opened at $127.38 on Friday. The company has a market cap of $26.36 billion, a price-to-earnings ratio of 20.88, a price-to-earnings-growth ratio of 2.32 and a beta of 0.67. The stock’s 50 day simple moving average is $122.64 and its 200 day simple moving average is $115.36. 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 has a 12-month low of $90.14 and a 12-month high of $127.89.

DTE Energy (NYSE:DTE) last posted its earnings results 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 return on equity of 12.18% and a net margin of 11.18%. The company had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same period last year, the business posted $0.99 earnings per share. Equities research analysts expect that DTE Energy will post 6.7 EPS for the current year.

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.