SS&H Financial Advisors Inc. Decreases Stock Holdings in DTE Energy (NYSE:DTE)

SS&H Financial Advisors Inc. lessened its stake in DTE Energy (NYSE:DTE) by 7.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,900 shares of the utilities provider’s stock after selling 500 shares during the quarter. SS&H Financial Advisors Inc.’s holdings in DTE Energy were worth $654,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. ESL Trust Services LLC acquired a new stake in shares of DTE Energy in the 1st quarter worth $27,000. Rise Advisors LLC increased its position in DTE Energy by 89.6% during the first quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 129 shares during the last quarter. Ridgewood Investments LLC acquired a new stake in DTE Energy during the second quarter worth about $31,000. Denali Advisors LLC purchased a new position in DTE Energy during the first quarter worth about $34,000. Finally, Salomon & Ludwin LLC boosted its holdings in DTE Energy by 82.3% in the 1st quarter. Salomon & Ludwin LLC now owns 432 shares of the utilities provider’s stock valued at $48,000 after purchasing an additional 195 shares during the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Price Performance

DTE stock opened at $128.70 on Wednesday. The business’s 50-day moving average is $123.34 and its two-hundred day moving average is $115.80. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.69 and a quick ratio of 0.52. The firm has a market capitalization of $26.63 billion, a P/E ratio of 21.06, a P/E/G ratio of 2.32 and a beta of 0.67. DTE Energy has a 1 year low of $90.14 and a 1 year high of $129.53.

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DTE. BMO Capital Markets increased their price objective on DTE Energy from $126.00 to $135.00 and gave the stock a “market perform” rating in a research report on Friday, September 6th. 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. KeyCorp boosted their price objective on shares of DTE Energy from $130.00 to $136.00 and gave the company an “overweight” rating in a report on Monday. Scotiabank increased their target price 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. Finally, StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, August 11th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, DTE Energy has an average rating of “Moderate Buy” and a consensus target price of $128.67.

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.