Janney Montgomery Scott LLC Acquires 2,548 Shares of DTE Energy (NYSE:DTE)

Janney Montgomery Scott LLC grew its position in shares of DTE Energy (NYSE:DTE) by 6.2% in the third quarter, Holdings Channel reports. The fund owned 43,469 shares of the utilities provider’s stock after buying an additional 2,548 shares during the quarter. Janney Montgomery Scott LLC’s holdings in DTE Energy were worth $5,582,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in DTE. ESL Trust Services LLC bought a new position in shares of DTE Energy in the first quarter worth about $27,000. Ridgewood Investments LLC acquired a new position in DTE Energy in the 2nd quarter worth about $31,000. Fairscale Capital LLC acquired a new position in DTE Energy during the second quarter worth $54,000. Chilton Capital Management LLC purchased a new stake in DTE Energy during the 2nd quarter worth approximately $56,000. Finally, Crewe Advisors LLC purchased a new stake in shares of DTE Energy during the first quarter worth $57,000. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DTE has been the topic of a number of recent research reports. Jefferies Financial Group began coverage on DTE Energy in a research report on Monday, October 21st. They set a “hold” rating and a $137.00 price objective on the stock. LADENBURG THALM/SH SH began coverage on shares of DTE Energy in a research report on Wednesday, August 14th. They issued a “buy” rating and a $131.00 price objective on the stock. Bank of America boosted their price objective on shares of DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. BMO Capital Markets increased their price objective on DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Finally, Scotiabank upped 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. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $131.46.

DTE Energy Price Performance

Shares of DTE opened at $117.81 on Friday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.62 and a current ratio of 0.83. The firm has a market cap of $24.40 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 2.20 and a beta of 0.68. The business’s 50 day moving average price is $125.42 and its two-hundred day moving average price is $118.94. DTE Energy has a 52-week low of $97.43 and a 52-week high of $131.66.

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.