AE Wealth Management LLC Grows Stock Position in DTE Energy (NYSE:DTE)

AE Wealth Management LLC grew its position in shares of DTE Energy (NYSE:DTE) by 0.2% during the second quarter, HoldingsChannel reports. The firm owned 102,305 shares of the utilities provider’s stock after buying an additional 225 shares during the period. AE Wealth Management LLC’s holdings in DTE Energy were worth $11,357,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. ESL Trust Services LLC acquired a new stake in DTE Energy during the 1st quarter valued at $27,000. Rise Advisors LLC boosted its position in DTE Energy by 89.6% in the 1st quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock valued at $31,000 after buying an additional 129 shares during the last quarter. Ridgewood Investments LLC acquired a new stake in shares of DTE Energy during the second quarter valued at about $31,000. Denali Advisors LLC purchased a new stake in shares of DTE Energy during the first quarter worth about $34,000. Finally, Salomon & Ludwin LLC lifted its stake in shares of 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 acquiring an additional 195 shares in the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DTE. BMO Capital Markets raised their price objective on DTE Energy from $126.00 to $135.00 and gave the company a “market perform” rating in a research note on Friday, September 6th. LADENBURG THALM/SH SH initiated coverage on shares of DTE Energy in a research note on Wednesday, August 14th. They issued a “buy” rating and a $131.00 price target for the company. KeyCorp upped their price target on shares of DTE Energy from $126.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Scotiabank raised their price objective on shares of DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Finally, Morgan Stanley upped their target price on shares of DTE Energy from $114.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $127.58.

DTE Energy Price Performance

DTE opened at $125.09 on Friday. 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’s 50-day moving average price is $121.82 and its 200 day moving average price is $114.98. DTE Energy has a fifty-two week low of $90.14 and a fifty-two week high of $127.59. The firm has a market cap of $25.89 billion, a price-to-earnings ratio of 20.47, a price-to-earnings-growth ratio of 2.28 and a beta of 0.67.

DTE Energy (NYSE:DTE) last announced its quarterly 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 return on equity of 12.18% and a net margin of 11.18%. The business had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the prior year, the firm earned $0.99 EPS. As a group, sell-side analysts expect 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.