Ameritas Advisory Services LLC Cuts Position in DTE Energy Company $DTE

Key Points

• Ameritas Advisory Services LLC significantly reduced its stake in DTE Energy by 97.2% during the 2nd quarter, now holding only 312 shares valued at $41,000.
• DTE Energy's stock recently opened at $140.12, with a 52-week low of $115.59 and a high of $143.79; the company has a market capitalization of $29.09 billion.
• Despite reporting Q2 earnings of $1.36 EPS, DTE Energy missed the consensus estimate by $0.01, although revenue did exceed expectations at $2.91 billion.

Ameritas Advisory Services LLC lessened its stake in DTE Energy Company (NYSE:DTE - Free Report) by 97.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 312 shares of the utilities provider's stock after selling 10,651 shares during the period. Ameritas Advisory Services LLC's holdings in DTE Energy were worth $41,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DTE. Northern Trust Corp grew its position in shares of DTE Energy by 0.5% in the 1st quarter. Northern Trust Corp now owns 1,836,832 shares of the utilities provider's stock worth $253,979,000 after buying an additional 9,664 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings 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 worth $223,019,000 after purchasing an additional 637,378 shares during the last quarter. JPMorgan Chase & Co. grew its holdings 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 worth $194,341,000 after purchasing an additional 512,567 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings 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 worth $181,978,000 after purchasing an additional 9,443 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in DTE Energy by 1.2% during the 1st quarter. Royal Bank of Canada now owns 1,173,220 shares of the utilities provider's stock worth $162,221,000 after buying an additional 13,884 shares during the last quarter. Hedge funds and other institutional investors own 76.06% of the company's stock.

DTE Energy Stock Down 0.2%

Shares of DTE opened at $140.12 on Tuesday. 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 Company has a 52 week low of $115.59 and a 52 week high of $143.79. The stock's 50-day moving average price is $138.38 and its 200-day moving average price is $135.90. The company has a market capitalization of $29.09 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 3.01 and a beta of 0.42.

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

Insider Transactions at DTE Energy

In other news, VP Lisa A. Muschong sold 1,600 shares of the 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 sale, the vice president directly owned 4,153 shares of the company's stock, valued at $583,621.09. This represents a 27.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on DTE shares. BMO Capital Markets boosted their target price on DTE Energy from $140.00 to $144.00 and gave the stock a "market perform" rating in a research note on Monday, August 25th. Barclays boosted their price target on DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. JPMorgan Chase & Co. boosted their target price on shares of DTE Energy from $145.00 to $147.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Weiss Ratings reissued a "buy (b-)" rating on shares of DTE Energy in a research report on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of DTE Energy from a "hold" rating to a "sell" rating in a research report on Saturday. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $145.25.

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.

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