Oppenheimer Asset Management Inc. Purchases 576 Shares of DTE Energy (NYSE:DTE)

Oppenheimer Asset Management Inc. grew its position in DTE Energy (NYSE:DTE) by 11.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,485 shares of the utilities provider’s stock after acquiring an additional 576 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in DTE Energy were worth $609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of DTE. Janus Henderson Group PLC raised its stake in DTE Energy by 6,964.9% during the first quarter. Janus Henderson Group PLC now owns 2,090,350 shares of the utilities provider’s stock valued at $234,410,000 after purchasing an additional 2,060,762 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of DTE Energy by 224.7% in the 1st quarter. Clearbridge Investments LLC now owns 2,538,106 shares of the utilities provider’s stock worth $284,623,000 after buying an additional 1,756,459 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of DTE Energy during the 4th quarter valued at about $74,478,000. Capital Research Global Investors raised its position in shares of DTE Energy by 1.9% during the 4th quarter. Capital Research Global Investors now owns 20,933,030 shares of the utilities provider’s stock valued at $2,308,076,000 after buying an additional 399,646 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in shares of DTE Energy by 109.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 555,072 shares of the utilities provider’s stock valued at $61,202,000 after acquiring an additional 289,663 shares during the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Morgan Stanley upped their price objective on DTE Energy from $114.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. 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. Wells Fargo & Company lifted their price objective on shares of DTE Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. KeyCorp boosted 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, September 16th. Finally, Barclays raised their target price on shares of DTE Energy from $123.00 to $128.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, DTE Energy currently has a consensus rating of “Moderate Buy” and an average target price of $127.58.

DTE Energy Trading Up 1.3 %

Shares of DTE opened at $125.09 on Friday. 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 $25.89 billion, a price-to-earnings ratio of 20.47, a PEG ratio of 2.28 and a beta of 0.67. The company has a 50-day moving average of $121.82 and a 200 day moving average of $114.98. DTE Energy has a 1-year low of $90.14 and a 1-year high of $127.59.

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

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.