DTE Energy (NYSE:DTE) Shares Bought by NewEdge Advisors LLC

NewEdge Advisors LLC grew its stake in DTE Energy (NYSE:DTE) by 15.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 293,962 shares of the utilities provider’s stock after purchasing an additional 38,849 shares during the quarter. NewEdge Advisors LLC’s holdings in DTE Energy were worth $32,632,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of DTE. Janus Henderson Group PLC raised its holdings in shares of 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 acquiring an additional 2,060,762 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of DTE Energy by 224.7% during the first quarter. Clearbridge Investments LLC now owns 2,538,106 shares of the utilities provider’s stock worth $284,623,000 after purchasing an additional 1,756,459 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in DTE Energy in the 4th quarter valued at $74,478,000. Capital Research Global Investors lifted its holdings in DTE Energy by 1.9% in 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 purchasing an additional 399,646 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in 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 purchasing an additional 289,663 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Stock Performance

Shares of DTE Energy stock opened at $127.38 on Friday. The firm has a market cap of $26.36 billion, a PE ratio of 20.85, a price-to-earnings-growth ratio of 2.32 and a beta of 0.67. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 1.73. DTE Energy has a 52 week low of $90.14 and a 52 week high of $127.89. The business’s fifty day simple moving average is $122.86 and its 200-day simple moving average is $115.50.

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Barclays increased their target price on shares of DTE Energy from $123.00 to $128.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. 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 report on Monday, September 16th. Morgan Stanley boosted their target price on DTE Energy from $121.00 to $128.00 and gave the stock an “overweight” rating in a report on Wednesday. Wells Fargo & Company upped their price target on DTE Energy from $125.00 to $133.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, Bank of America lifted their price objective on DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $128.17.

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.