Van ECK Associates Corp Invests $268,000 in DTE Energy (NYSE:DTE)

Van ECK Associates Corp bought a new stake in DTE Energy (NYSE:DTE) during the third quarter, HoldingsChannel reports. The fund bought 2,062 shares of the utilities provider’s stock, valued at approximately $268,000.

A number of other large investors have also added to or reduced their stakes in the company. UniSuper Management Pty Ltd increased its position in shares of DTE Energy by 407.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 10,715 shares of the utilities provider’s stock valued at $1,202,000 after purchasing an additional 8,603 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of DTE Energy by 9.9% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 124,264 shares of the utilities provider’s stock worth $13,934,000 after acquiring an additional 11,218 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of DTE Energy by 6.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 229,495 shares of the utilities provider’s stock worth $25,139,000 after acquiring an additional 14,022 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of DTE Energy by 12.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 381,985 shares of the utilities provider’s stock valued at $42,836,000 after purchasing an additional 42,635 shares in the last quarter. Finally, Cetera Advisors LLC bought a new position in shares of DTE Energy during the 1st quarter valued at $708,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Bank of America boosted their target price on DTE Energy from $131.00 to $136.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Mizuho boosted their price objective on shares of DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Scotiabank raised 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 report on Tuesday, August 20th. Morgan Stanley boosted their price target on shares of DTE Energy from $121.00 to $128.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Finally, Barclays raised their price objective on shares of DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, DTE Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.46.

DTE Energy Price Performance

DTE opened at $120.08 on Wednesday. DTE Energy has a 1 year low of $97.43 and a 1 year high of $131.66. The stock has a 50-day moving average price of $125.31 and a 200-day moving average price of $119.11. The firm has a market cap of $24.87 billion, a PE ratio of 16.27, a P/E/G ratio of 2.13 and a beta of 0.68. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62.

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.