DTE Energy (NYSE:DTE) Stake Lifted by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of DTE Energy (NYSE:DTE) by 60.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,629 shares of the utilities provider’s stock after buying an additional 15,003 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in DTE Energy were worth $4,399,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors boosted its position in DTE Energy by 1.2% during the 1st quarter. Capital Research Global Investors now owns 21,194,653 shares of the utilities provider’s stock worth $2,376,768,000 after acquiring an additional 261,623 shares during the period. Clearbridge Investments LLC boosted its position 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 worth $284,623,000 after acquiring an additional 1,756,459 shares during the period. Janus Henderson Group PLC boosted its position in DTE Energy by 6,964.9% during the 1st quarter. Janus Henderson Group PLC now owns 2,090,350 shares of the utilities provider’s stock worth $234,410,000 after acquiring an additional 2,060,762 shares during the period. Massachusetts Financial Services Co. MA boosted its position in DTE Energy by 3.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,667,111 shares of the utilities provider’s stock worth $185,066,000 after acquiring an additional 59,811 shares during the period. Finally, First Trust Advisors LP boosted its position in DTE Energy by 2.2% during the 4th quarter. First Trust Advisors LP now owns 781,181 shares of the utilities provider’s stock worth $86,133,000 after acquiring an additional 16,712 shares during the period. 76.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DTE. Morgan Stanley boosted their price target on DTE Energy from $121.00 to $128.00 and gave the stock an “overweight” rating in a research report on Wednesday. Mizuho upped their price objective on DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Scotiabank upped their price objective on DTE Energy from $120.00 to $137.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a report on Sunday, August 11th. Finally, Barclays upped their price objective on DTE Energy from $123.00 to $128.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Five 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $128.17.

DTE Energy Stock Up 1.4 %

Shares of DTE Energy stock opened at $127.38 on Friday. The stock’s fifty day moving average is $122.64 and its 200-day moving average is $115.36. The firm has a market capitalization of $26.36 billion, a PE ratio of 20.85, a price-to-earnings-growth ratio of 2.32 and a beta of 0.67. The company has a quick ratio of 0.52, a current ratio of 0.69 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 announced its earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.22. The company had revenue of $2.88 billion for the quarter, compared to analyst estimates 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 in the previous year, the firm earned $0.99 earnings per share. Equities analysts anticipate that DTE Energy will post 6.7 earnings per share for the current year.

About DTE Energy

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.