Perella Weinberg Partners Capital Management LP bought a new position in shares of DTE Energy Co (NYSE:DTE) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,769 shares of the utilities provider’s stock, valued at approximately $1,175,000.
Other hedge funds have also recently bought and sold shares of the company. Cornerstone Wealth Management LLC purchased a new stake in shares of DTE Energy in the 3rd quarter worth approximately $1,501,000. Canada Pension Plan Investment Board grew its stake in shares of DTE Energy by 203.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 213,110 shares of the utilities provider’s stock worth $22,085,000 after buying an additional 142,800 shares during the last quarter. Legal & General Group Plc grew its stake in shares of DTE Energy by 8.7% in the 2nd quarter. Legal & General Group Plc now owns 1,744,677 shares of the utilities provider’s stock worth $180,833,000 after buying an additional 139,879 shares during the last quarter. Bank of Montreal Can grew its stake in shares of DTE Energy by 41.3% in the 3rd quarter. Bank of Montreal Can now owns 301,926 shares of the utilities provider’s stock worth $32,950,000 after buying an additional 88,258 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of DTE Energy by 4.2% in the 2nd quarter. Northern Trust Corp now owns 2,205,903 shares of the utilities provider’s stock worth $228,598,000 after buying an additional 88,227 shares during the last quarter. Hedge funds and other institutional investors own 71.13% of the company’s stock.
Several research firms recently weighed in on DTE. Citigroup upped their price target on DTE Energy from $103.00 to $110.00 and gave the stock a “hold” rating in a research note on Monday, September 10th. KeyCorp upped their price target on DTE Energy from $115.00 to $118.00 and gave the stock an “overweight” rating in a research note on Friday, July 27th. Guggenheim restated a “buy” rating and issued a $114.00 price target on shares of DTE Energy in a research note on Monday, July 23rd. Zacks Investment Research upgraded DTE Energy from a “sell” rating to a “hold” rating in a research note on Thursday, July 12th. Finally, Howard Weil began coverage on DTE Energy in a research note on Tuesday, July 24th. They issued a “sector outperform” rating and a $115.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. DTE Energy has a consensus rating of “Hold” and an average price target of $114.36.
DTE stock opened at $111.38 on Monday. The company has a market capitalization of $20.26 billion, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 2.95 and a beta of 0.04. DTE Energy Co has a 12-month low of $94.25 and a 12-month high of $118.22. The company has a current ratio of 1.47, a quick ratio of 1.10 and a debt-to-equity ratio of 1.27.
DTE Energy (NYSE:DTE) last released its quarterly earnings data on Wednesday, October 24th. The utilities provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.39. The business had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.29 billion. DTE Energy had a return on equity of 11.61% and a net margin of 8.85%. During the same period in the prior year, the firm posted $1.48 EPS. As a group, analysts forecast that DTE Energy Co will post 6.3 EPS for the current year.
In other news, Chairman Gerard M. Anderson sold 10,000 shares of the stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $110.18, for a total transaction of $1,101,800.00. Following the transaction, the chairman now directly owns 84,858 shares of the company’s stock, valued at approximately $9,349,654.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.59% of the stock is owned by corporate insiders.
DTE Energy Company Profile
DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.2 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.
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