Crow Point Partners LLC increased its holdings in shares of DTE Energy Co (NYSE:DTE) by 60.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,000 shares of the utilities provider’s stock after acquiring an additional 15,000 shares during the period. Crow Point Partners LLC’s holdings in DTE Energy were worth $5,300,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kistler Tiffany Companies LLC bought a new stake in DTE Energy during the 2nd quarter worth approximately $26,000. Weaver Consulting Group bought a new stake in DTE Energy during the 1st quarter worth approximately $29,000. TCG Advisors LP bought a new stake in DTE Energy during the 1st quarter worth approximately $34,000. Mcmillion Capital Management Inc. bought a new stake in DTE Energy during the 2nd quarter worth approximately $34,000. Finally, AdvisorNet Financial Inc grew its position in DTE Energy by 85.3% during the 2nd quarter. AdvisorNet Financial Inc now owns 328 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 151 shares during the last quarter. Institutional investors and hedge funds own 70.97% of the company’s stock.
NYSE:DTE traded down $0.32 during trading hours on Wednesday, hitting $129.86. 1,186,700 shares of the stock were exchanged, compared to its average volume of 967,101. The company’s 50 day moving average is $130.67 and its two-hundred day moving average is $128.05. DTE Energy Co has a twelve month low of $107.22 and a twelve month high of $134.37. The company has a quick ratio of 0.54, a current ratio of 0.75 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $24.24 billion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 3.54 and a beta of 0.21.
DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Wednesday, July 24th. The utilities provider reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.10). DTE Energy had a return on equity of 10.33% and a net margin of 8.09%. The firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same period in the prior year, the company posted $1.36 EPS. On average, equities research analysts expect that DTE Energy Co will post 6.22 EPS for the current year.
A number of equities research analysts recently commented on DTE shares. Barclays reaffirmed a “hold” rating and set a $131.00 price objective on shares of DTE Energy in a report on Thursday, June 20th. Wells Fargo & Co raised DTE Energy from a “market perform” rating to an “outperform” rating and set a $145.00 price objective on the stock in a report on Monday, August 26th. Mizuho raised DTE Energy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $131.00 to $137.00 in a report on Monday. ValuEngine downgraded DTE Energy from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Finally, JPMorgan Chase & Co. started coverage on DTE Energy in a report on Tuesday. They set a “neutral” rating and a $144.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $130.42.
In other news, Chairman Gerard M. Anderson sold 11,500 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $128.02, for a total value of $1,472,230.00. Following the transaction, the chairman now owns 80,406 shares of the company’s stock, valued at approximately $10,293,576.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gary Torgow purchased 1,537 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was bought at an average cost of $129.95 per share, for a total transaction of $199,733.15. Following the purchase, the director now owns 2,537 shares in the company, valued at $329,683.15. The disclosure for this purchase can be found here. Corporate insiders own 0.55% of the company’s stock.
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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