Eastern Bank Takes Position in DTE Energy (NYSE:DTE)

Eastern Bank acquired a new stake in DTE Energy (NYSE:DTE) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,360 shares of the utilities provider’s stock, valued at approximately $175,000.

Several other hedge funds also recently bought and sold shares of the company. ESL Trust Services LLC bought a new position in DTE Energy in the 1st quarter valued at $27,000. Ridgewood Investments LLC bought a new stake in DTE Energy during the second quarter valued at $31,000. Denali Advisors LLC bought a new stake in DTE Energy during the first quarter valued at $34,000. Salomon & Ludwin LLC grew its position in DTE Energy by 82.3% during the first quarter. Salomon & Ludwin LLC now owns 432 shares of the utilities provider’s stock worth $48,000 after buying an additional 195 shares in the last quarter. Finally, Fairscale Capital LLC bought a new position in DTE Energy in the 2nd quarter worth about $54,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Wall Street Analyst Weigh In

DTE has been the subject of a number of research analyst reports. KeyCorp lifted their price target on DTE Energy from $136.00 to $138.00 and gave the company an “overweight” rating in a research report on Tuesday. Morgan Stanley increased their price target on shares of DTE Energy from $121.00 to $128.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Bank of America lifted their price objective on shares of DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Barclays increased their target price on DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, Mizuho raised their price target on DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $130.54.

DTE Energy Trading Down 0.2 %

NYSE:DTE opened at $129.74 on Friday. The firm has a market capitalization of $26.85 billion, a P/E ratio of 21.23, a P/E/G ratio of 2.29 and a beta of 0.67. DTE Energy has a 52 week low of $92.58 and a 52 week high of $131.66. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 1.73. The company has a fifty day moving average of $125.52 and a 200 day moving average of $117.67.

DTE Energy (NYSE:DTE) last posted its earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.22. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. The company had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same period in the prior year, the business posted $0.99 earnings per share. On average, research analysts predict 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.