State of Alaska Department of Revenue Sells 6,055 Shares of DTE Energy (NYSE:DTE)

State of Alaska Department of Revenue lowered its stake in DTE Energy (NYSE:DTE) by 16.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,667 shares of the utilities provider’s stock after selling 6,055 shares during the period. State of Alaska Department of Revenue’s holdings in DTE Energy were worth $3,937,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. ESL Trust Services LLC bought a new stake in shares of DTE Energy during the 1st quarter valued at $27,000. Ridgewood Investments LLC bought a new stake in shares of DTE Energy during the 2nd quarter valued at $31,000. Denali Advisors LLC bought a new stake in shares of DTE Energy during the 1st quarter valued at $34,000. Salomon & Ludwin LLC boosted its holdings in shares of DTE Energy by 82.3% during the 1st quarter. Salomon & Ludwin LLC now owns 432 shares of the utilities provider’s stock valued at $48,000 after buying an additional 195 shares in the last quarter. Finally, Fairscale Capital LLC bought a new stake in shares of DTE Energy during the 2nd quarter valued at $54,000. Institutional investors own 76.06% of the company’s stock.

DTE Energy Price Performance

Shares of NYSE:DTE opened at $124.14 on Thursday. DTE Energy has a fifty-two week low of $92.58 and a fifty-two week high of $131.66. The business has a 50-day simple moving average of $125.87 and a two-hundred day simple moving average of $118.31. 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 market cap of $25.69 billion, a price-to-earnings ratio of 20.32, a price-to-earnings-growth ratio of 2.29 and a beta of 0.67.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on DTE shares. Mizuho boosted their target price on shares of DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Wells Fargo & Company boosted their target price on shares of DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a report on Friday, October 25th. StockNews.com cut shares of DTE Energy from a “hold” rating to a “sell” rating in a research note on Monday. BMO Capital Markets upped their price target on shares of DTE Energy from $135.00 to $140.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Finally, Bank of America upped their price target on shares of DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $131.46.

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.