Ashton Thomas Securities LLC Takes $427,000 Position in DTE Energy Company $DTE

Key Points

• Ashton Thomas Securities LLC has purchased a new position in DTE Energy Company worth approximately $427,000, acquiring 3,220 shares during the second quarter.
• Several institutional investors have also recently increased their stakes in DTE, indicating strong institutional interest, with 76.06% of the company's stock now owned by institutional investors.
• DTE Energy's stock is currently rated as a "Moderate Buy"** by analysts, with a consensus price target of $144.00.

Ashton Thomas Securities LLC purchased a new position in DTE Energy Company (NYSE:DTE - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,220 shares of the utilities provider's stock, valued at approximately $427,000.

Several other institutional investors and hedge funds have also bought and sold shares of DTE. Cloud Capital Management LLC bought a new position in DTE Energy in the 1st quarter valued at about $25,000. Quintet Private Bank Europe S.A. acquired a new stake in shares of DTE Energy during the 2nd quarter worth approximately $25,000. Olde Wealth Management LLC bought a new position in DTE Energy in the first quarter valued at approximately $27,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in DTE Energy during the first quarter valued at approximately $28,000. Finally, SouthState Corp bought a new stake in DTE Energy during the first quarter worth $29,000. Institutional investors own 76.06% of the company's stock.

Analyst Upgrades and Downgrades

DTE has been the topic of a number of research analyst reports. Barclays raised 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. BMO Capital Markets raised their price objective on DTE Energy from $140.00 to $144.00 and gave the company a "market perform" rating in a research note on Monday, August 25th. Wall Street Zen raised DTE Energy from a "sell" rating to a "hold" rating in a research note on Friday. Morgan Stanley dropped their target price on shares of DTE Energy from $140.00 to $137.00 and set an "overweight" rating for the company in a report on Thursday, September 25th. Finally, JPMorgan Chase & Co. lifted their price target 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. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $144.00.

DTE Energy Stock Up 0.5%

Shares of DTE Energy stock opened at $140.02 on Friday. The stock's 50-day moving average is $138.02 and its 200 day moving average is $135.69. DTE Energy Company has a one year low of $115.59 and a one year high of $142.05. The firm has a market cap of $29.07 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 2.77 and a beta of 0.42. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.94 and a quick ratio of 0.57.

DTE Energy (NYSE:DTE - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share (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%. Equities research analysts anticipate that DTE Energy Company will post 7.18 EPS for the current year.

Insider Transactions at DTE Energy

In other DTE Energy 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 sale, the vice president directly owned 4,153 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by corporate 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.

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