626 Financial LLC Buys Shares of 1,820 DTE Energy Company $DTE

Key Points

• 626 Financial LLC has acquired 1,820 shares of DTE Energy, valued at approximately $241,000, marking a new investment during the 2nd quarter.
• Several large investors, including Goldman Sachs and JPMorgan Chase, have significantly increased their stakes in DTE Energy recently, reflecting growing institutional interest.
• DTE Energy's latest earnings report revealed a net margin of 10.16% and a miss on EPS expectations, indicating some challenges amid robust revenue figures of $2.91 billion.

626 Financial LLC bought a new stake in DTE Energy Company (NYSE:DTE - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,820 shares of the utilities provider's stock, valued at approximately $241,000.

Several other large investors have also recently made changes to their positions in the company. Northern Trust Corp raised its stake in DTE Energy by 0.5% in the 1st quarter. Northern Trust Corp now owns 1,836,832 shares of the utilities provider's stock valued at $253,979,000 after purchasing an additional 9,664 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of DTE Energy by 65.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,612,925 shares of the utilities provider's stock valued at $223,019,000 after buying an additional 637,378 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of DTE Energy by 57.4% in the first quarter. JPMorgan Chase & Co. now owns 1,405,516 shares of the utilities provider's stock worth $194,341,000 after buying an additional 512,567 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of DTE Energy by 0.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,316,107 shares of the utilities provider's stock worth $181,978,000 after buying an additional 9,443 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in DTE Energy by 1.2% during the first quarter. Royal Bank of Canada now owns 1,173,220 shares of the utilities provider's stock worth $162,221,000 after acquiring an additional 13,884 shares during the last quarter. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

DTE Energy Trading Up 1.3%

Shares of DTE Energy stock opened at $141.84 on Tuesday. The stock has a 50 day moving average of $138.11 and a 200 day moving average of $135.71. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.57 and a current ratio of 0.94. The firm has a market capitalization of $29.44 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 2.78 and a beta of 0.42. DTE Energy Company has a fifty-two week low of $115.59 and a fifty-two week high of $142.41.

DTE Energy (NYSE:DTE - Get Free Report) last announced its quarterly 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 business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.67 billion. DTE Energy had a net margin of 10.16% and a return on equity of 12.72%. As a group, research analysts predict that DTE Energy Company will post 7.18 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on DTE shares. JPMorgan Chase & Co. increased their price objective on shares of DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. Wall Street Zen raised DTE Energy from a "sell" rating to a "hold" rating in a report on Friday. Scotiabank reissued a "sector perform" rating and set a $147.00 price objective on shares of DTE Energy in a research note on Friday. Barclays upped their target price on DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Finally, Morgan Stanley reduced their price target on DTE Energy from $140.00 to $137.00 and set an "overweight" rating on the stock in a report on Thursday, September 25th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $144.00.

Insiders Place Their Bets

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of DTE Energy stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $140.53, for a total transaction of $224,848.00. Following the completion of the sale, the vice president directly owned 4,153 shares in the company, valued at $583,621.09. This trade represents a 27.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.