Richardson Financial Services Inc. Decreases Stock Position in DTE Energy (NYSE:DTE)

Richardson Financial Services Inc. decreased its position in shares of DTE Energy (NYSE:DTE) by 8.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,635 shares of the utilities provider’s stock after selling 145 shares during the period. Richardson Financial Services Inc.’s holdings in DTE Energy were worth $182,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. ESL Trust Services LLC bought a new position in DTE Energy during the first quarter valued at approximately $27,000. Rise Advisors LLC raised its holdings in shares of DTE Energy by 89.6% during the 1st quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 129 shares in the last quarter. Ridgewood Investments LLC bought a new position in shares of DTE Energy during the 2nd quarter valued at approximately $31,000. Denali Advisors LLC purchased a new position in shares of DTE Energy in the first quarter valued at $34,000. Finally, Salomon & Ludwin LLC increased its position in DTE Energy by 82.3% in the first quarter. Salomon & Ludwin LLC now owns 432 shares of the utilities provider’s stock worth $48,000 after purchasing an additional 195 shares during the last quarter. 76.06% of the stock is owned by institutional investors.

DTE Energy Stock Down 0.7 %

Shares of DTE opened at $123.53 on Friday. The firm has a fifty day moving average price of $121.60 and a 200-day moving average price of $114.87. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. The firm has a market capitalization of $25.56 billion, a P/E ratio of 20.22, a P/E/G ratio of 2.28 and a beta of 0.67. DTE Energy has a 12-month low of $90.14 and a 12-month high of $127.59.

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

Analyst Ratings Changes

Several equities analysts have commented on the stock. KeyCorp increased their price objective on shares of DTE Energy from $126.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday. Barclays lifted their price target on DTE Energy from $123.00 to $128.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. LADENBURG THALM/SH SH began coverage on DTE Energy in a research note on Wednesday, August 14th. They issued a “buy” rating and a $131.00 price objective for the company. BMO Capital Markets increased their price target on DTE Energy from $126.00 to $135.00 and gave the company a “market perform” rating in a report on Friday, September 6th. Finally, Mizuho lifted their price objective on shares of DTE Energy from $121.00 to $133.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $127.58.

DTE Energy Company 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.