Allianz Asset Management GmbH Sells 21,486 Shares of DTE Energy Company $DTE

Key Points

• Allianz Asset Management GmbH sold 21,486 shares of DTE Energy, reducing its stake by 36.4%, leaving it with a total of 37,509 shares valued at approximately $4.97 million.
• Several other institutional investors have increased their stakes in DTE Energy, including Goldman Sachs, which raised its ownership by 65.3% in the first quarter.
• DTE Energy's stock has a consensus rating of "Moderate Buy" from analysts, with an average target price of $148.60, reflecting optimistic outlooks despite a recent earnings miss.

Allianz Asset Management GmbH lowered its stake in DTE Energy Company (NYSE:DTE - Free Report) by 36.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 37,509 shares of the utilities provider's stock after selling 21,486 shares during the quarter. Allianz Asset Management GmbH's holdings in DTE Energy were worth $4,968,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Northern Trust Corp lifted its stake in DTE Energy by 0.5% in the first quarter. Northern Trust Corp now owns 1,836,832 shares of the utilities provider's stock valued at $253,979,000 after buying an additional 9,664 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in 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 in the last quarter. JPMorgan Chase & Co. lifted its stake in DTE Energy by 57.4% in the first quarter. JPMorgan Chase & Co. now owns 1,405,516 shares of the utilities provider's stock valued at $194,341,000 after buying an additional 512,567 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in 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 valued at $181,978,000 after buying an additional 9,443 shares in the last quarter. Finally, Royal Bank of Canada lifted its stake in DTE Energy by 1.2% in the first quarter. Royal Bank of Canada now owns 1,173,220 shares of the utilities provider's stock valued at $162,221,000 after buying an additional 13,884 shares in the last quarter. Institutional investors own 76.06% of the company's stock.

Insider Buying and Selling at DTE Energy

In related news, VP Lisa A. Muschong sold 1,600 shares of the firm's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $140.53, for a total value 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 trade represents a 27.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company's stock.

DTE Energy Price Performance

NYSE:DTE opened at $141.61 on Friday. DTE Energy Company has a 1-year low of $115.59 and a 1-year high of $143.79. The company has a current ratio of 0.94, a quick ratio of 0.57 and a debt-to-equity ratio of 1.96. The firm has a fifty day simple moving average of $138.72 and a 200 day simple moving average of $136.26. The stock has a market capitalization of $29.40 billion, a PE ratio of 20.38, a P/E/G ratio of 3.06 and a beta of 0.42.

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

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wall Street Zen raised shares of DTE Energy from a "sell" rating to a "hold" rating in a research note on Sunday, October 19th. Scotiabank reiterated a "sector perform" rating and issued a $147.00 price objective on shares of DTE Energy in a report on Friday, October 3rd. Weiss Ratings reiterated a "buy (b-)" rating on shares of DTE Energy in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted 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. Finally, Morgan Stanley lifted their price objective on shares of DTE Energy from $137.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, DTE Energy currently has a consensus rating of "Moderate Buy" and an average target price of $148.60.

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.

Want to see what other hedge funds are holding DTE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DTE Energy Company (NYSE:DTE - Free Report).

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.