Achmea Investment Management B.V. cut its position in DTE Energy Company (NYSE:DTE) by 7.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 53,644 shares of the utilities provider’s stock after selling 4,221 shares during the period. Achmea Investment Management B.V.’s holdings in DTE Energy were worth $5,674,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in DTE. Virginia Retirement Systems ET AL grew its holdings in DTE Energy by 171.2% in the second quarter. Virginia Retirement Systems ET AL now owns 17,900 shares of the utilities provider’s stock valued at $1,894,000 after purchasing an additional 11,300 shares during the period. Swiss National Bank grew its holdings in DTE Energy by 9.9% in the second quarter. Swiss National Bank now owns 698,625 shares of the utilities provider’s stock valued at $73,908,000 after purchasing an additional 62,900 shares during the period. GAM Holding AG grew its holdings in DTE Energy by 27.0% in the second quarter. GAM Holding AG now owns 24,877 shares of the utilities provider’s stock valued at $2,632,000 after purchasing an additional 5,291 shares during the period. Shell Asset Management Co. grew its holdings in DTE Energy by 1.9% in the second quarter. Shell Asset Management Co. now owns 16,404 shares of the utilities provider’s stock valued at $1,735,000 after purchasing an additional 300 shares during the period. Finally, Neuberger Berman Group LLC grew its holdings in DTE Energy by 0.4% in the second quarter. Neuberger Berman Group LLC now owns 775,387 shares of the utilities provider’s stock valued at $82,028,000 after purchasing an additional 2,997 shares during the period. 68.56% of the stock is currently owned by institutional investors and hedge funds.
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Shares of DTE Energy Company (DTE) traded up 0.64% during midday trading on Friday, hitting $110.83. The stock had a trading volume of 872,029 shares. DTE Energy Company has a 12-month low of $89.66 and a 12-month high of $113.71. The stock has a market cap of $19.88 billion, a P/E ratio of 19.08 and a beta of 0.20. The stock has a 50-day moving average price of $109.96 and a 200-day moving average price of $108.12.
DTE Energy (NYSE:DTE) last announced its earnings results on Wednesday, October 25th. The utilities provider reported $1.48 EPS for the quarter, missing the Zacks’ consensus estimate of $1.53 by ($0.05). DTE Energy had a net margin of 8.01% and a return on equity of 9.56%. The business had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter last year, the firm posted $1.96 EPS. The business’s quarterly revenue was up 10.8% on a year-over-year basis. Equities analysts forecast that DTE Energy Company will post $5.49 earnings per share for the current year.
Several brokerages have commented on DTE. Credit Suisse Group dropped their price objective on DTE Energy from $113.00 to $112.00 and set a “neutral” rating on the stock in a report on Thursday. Bank of America Corporation began coverage on DTE Energy in a research report on Tuesday. They issued an “underperform” rating and a $112.00 target price on the stock. Zacks Investment Research downgraded DTE Energy from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. BMO Capital Markets restated a “hold” rating and issued a $111.00 target price on shares of DTE Energy in a research report on Friday, July 28th. Finally, BidaskClub downgraded DTE Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $111.50.
In related news, insider Larry E. Steward sold 9,999 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $107.52, for a total value of $1,075,092.48. Following the transaction, the insider now owns 39,698 shares in the company, valued at approximately $4,268,328.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark W. Stiers sold 3,632 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $110.03, for a total transaction of $399,628.96. Following the completion of the transaction, the insider now owns 25,257 shares in the company, valued at approximately $2,779,027.71. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.
DTE Energy Company Profile
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