3,815 Shares in DTE Energy Company $DTE Acquired by 111 Capital

Key Points

• 111 Capital acquired 3,815 shares of DTE Energy worth approximately $505,000, indicating increased interest from institutional investors in the utilities sector.
• Several hedge funds, including Goldman Sachs and JPMorgan Chase, significantly increased their stakes in DTE Energy, showcasing strong institutional confidence in the company's performance.
• DTE Energy's consensus rating is a "Moderate Buy" with a target price of $144.00, following recent upgrades and changes in price targets from various analysts.

111 Capital purchased a new position in shares of DTE Energy Company (NYSE:DTE - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,815 shares of the utilities provider's stock, valued at approximately $505,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DTE. Goldman Sachs Group Inc. lifted its position in DTE Energy by 65.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,612,925 shares of the utilities provider's stock worth $223,019,000 after acquiring an additional 637,378 shares in the last quarter. JPMorgan Chase & Co. grew its stake in DTE Energy by 57.4% during the 1st quarter. JPMorgan Chase & Co. now owns 1,405,516 shares of the utilities provider's stock valued at $194,341,000 after purchasing an additional 512,567 shares in the last quarter. Nuveen LLC purchased a new stake in DTE Energy during the 1st quarter worth approximately $67,315,000. The Manufacturers Life Insurance Company raised its position in shares of DTE Energy by 44.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 721,209 shares of the utilities provider's stock valued at $99,722,000 after purchasing an additional 222,894 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of DTE Energy by 1,066.0% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 210,728 shares of the utilities provider's stock valued at $29,137,000 after buying an additional 192,656 shares during the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DTE has been the topic of several recent analyst reports. BMO Capital Markets upped their price target on shares of DTE Energy from $140.00 to $144.00 and gave the company a "market perform" rating in a report on Monday, August 25th. Wall Street Zen raised shares of DTE Energy from a "sell" rating to a "hold" rating in a report on Friday. Scotiabank restated a "sector perform" rating and issued a $147.00 target price on shares of DTE Energy in a research note on Friday. Morgan Stanley reduced their price target on shares of DTE Energy from $140.00 to $137.00 and set an "overweight" rating on the stock in a research report on Thursday, September 25th. Finally, JPMorgan Chase & Co. boosted their price objective on DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, DTE Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $144.00.

Insider Activity at DTE Energy

In other news, VP Lisa A. Muschong sold 1,600 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $140.53, for a total transaction of $224,848.00. Following the completion of the transaction, the vice president directly owned 4,153 shares of the company's stock, valued at approximately $583,621.09. This represents a 27.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.33% of the company's stock.

DTE Energy Trading Up 0.5%

Shares of NYSE DTE opened at $140.02 on Monday. The stock's 50 day moving average price is $138.02 and its two-hundred day moving average price is $135.68. DTE Energy Company has a 52-week low of $115.59 and a 52-week high of $142.05. The stock has a market capitalization of $29.07 billion, a P/E ratio of 20.15, a PEG ratio of 2.78 and a beta of 0.42. The company has a quick ratio of 0.57, a current ratio of 0.94 and a debt-to-equity ratio of 1.96.

DTE Energy (NYSE:DTE - Get Free Report) last posted its earnings results on Tuesday, July 29th. The utilities provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.01). The company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.67 billion. DTE Energy had a net margin of 10.16% and a return on equity of 12.72%. On average, analysts anticipate that DTE Energy Company will post 7.18 earnings per share for the current fiscal year.

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.

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