DTE Energy (NYSE:DTE) Shares Bought by Spirit of America Management Corp NY

Spirit of America Management Corp NY increased its holdings in DTE Energy (NYSE:DTE) by 9.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,050 shares of the utilities provider’s stock after purchasing an additional 700 shares during the quarter. Spirit of America Management Corp NY’s holdings in DTE Energy were worth $1,034,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in DTE. UniSuper Management Pty Ltd boosted its stake in shares of DTE Energy by 407.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 10,715 shares of the utilities provider’s stock valued at $1,202,000 after buying an additional 8,603 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in DTE Energy by 9.9% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 124,264 shares of the utilities provider’s stock worth $13,934,000 after buying an additional 11,218 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in DTE Energy by 6.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 229,495 shares of the utilities provider’s stock valued at $25,139,000 after buying an additional 14,022 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of DTE Energy by 12.6% in the first quarter. Canada Pension Plan Investment Board now owns 381,985 shares of the utilities provider’s stock worth $42,836,000 after buying an additional 42,635 shares during the last quarter. Finally, Founders Financial Securities LLC bought a new stake in shares of DTE Energy during the 1st quarter worth about $802,000. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Trading Down 0.2 %

Shares of DTE Energy stock opened at $129.74 on Friday. DTE Energy has a 52-week low of $92.58 and a 52-week high of $131.66. The firm has a market capitalization of $26.85 billion, a PE ratio of 21.23, a price-to-earnings-growth ratio of 2.29 and a beta of 0.67. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.69 and a quick ratio of 0.52. The company’s fifty day moving average price is $125.52 and its two-hundred day moving average price is $117.67.

DTE Energy (NYSE:DTE) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.22. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. The company had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the previous year, the business earned $0.99 earnings per share. On average, analysts expect that DTE Energy will post 6.7 EPS for the current year.

Wall Street Analysts Forecast Growth

DTE has been the topic of a number of recent analyst reports. Jefferies Financial Group started coverage on DTE Energy in a research note on Monday. They issued a “hold” rating and a $137.00 price objective on the stock. Wells Fargo & Company increased their price target on DTE Energy from $125.00 to $133.00 and gave the company an “overweight” rating in a report on Friday, July 26th. BMO Capital Markets boosted their price objective on shares of DTE Energy from $135.00 to $140.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Barclays raised their target price on shares of DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Sunday, August 11th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $130.54.

DTE Energy Company 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.