abrdn plc Buys 20,524 Shares of DTE Energy (NYSE:DTE)

abrdn plc raised its stake in shares of DTE Energy (NYSE:DTE) by 36.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 76,361 shares of the utilities provider’s stock after purchasing an additional 20,524 shares during the period. abrdn plc’s holdings in DTE Energy were worth $9,777,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Research Global Investors grew its stake in shares of DTE Energy by 1.2% during the 1st quarter. Capital Research Global Investors now owns 21,194,653 shares of the utilities provider’s stock valued at $2,376,768,000 after acquiring an additional 261,623 shares during the period. Ameriprise Financial Inc. boosted its position in shares of DTE Energy by 1.6% in the second quarter. Ameriprise Financial Inc. now owns 5,557,309 shares of the utilities provider’s stock worth $616,938,000 after purchasing an additional 86,205 shares during the period. Clearbridge Investments LLC increased its stake in shares of DTE Energy by 224.7% in 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. Janus Henderson Group PLC raised its position in shares of DTE Energy by 6,964.9% during the 1st 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 during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of DTE Energy by 3.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,667,111 shares of the utilities provider’s stock valued at $185,066,000 after buying an additional 59,811 shares in the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on DTE shares. Wells Fargo & Company increased their price target on DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Scotiabank lifted their target price on DTE Energy from $120.00 to $137.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. StockNews.com downgraded DTE Energy from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Bank of America lifted their price objective on shares of DTE Energy from $131.00 to $136.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, BMO Capital Markets boosted their target price on shares of DTE Energy from $135.00 to $140.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $131.46.

DTE Energy Trading Down 2.4 %

Shares of NYSE DTE opened at $121.29 on Friday. The stock has a market capitalization of $25.12 billion, a P/E ratio of 16.43, a PEG ratio of 2.25 and a beta of 0.67. DTE Energy has a 1-year low of $96.45 and a 1-year high of $131.66. The business’s 50 day moving average is $125.84 and its two-hundred day moving average is $118.57. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62.

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.