Callan Family Office LLC Grows Stock Holdings in DTE Energy Company $DTE

Key Points

• Callan Family Office LLC increased its stake in DTE Energy Company by 198.0% in Q2, now owning 5,256 shares worth $696,000.
• DTE Energy reported earnings of $1.36 per share, slightly below analysts' expectations, but exceeded revenue expectations with $2.91 billion for the quarter.
• Seven analysts rate DTE Energy as a "Buy", with an average price target of $145.25, indicating positive sentiment in the market.

Callan Family Office LLC lifted its stake in DTE Energy Company (NYSE:DTE - Free Report) by 198.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,256 shares of the utilities provider's stock after purchasing an additional 3,492 shares during the quarter. Callan Family Office LLC's holdings in DTE Energy were worth $696,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of DTE. Cloud Capital Management LLC purchased a new position in shares of DTE Energy in the 1st quarter valued at approximately $25,000. Quintet Private Bank Europe S.A. purchased a new position in shares of DTE Energy in the 2nd quarter valued at approximately $25,000. Olde Wealth Management LLC purchased a new position in shares of DTE Energy in the 1st quarter valued at approximately $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of DTE Energy in the 1st quarter valued at approximately $28,000. Finally, SouthState Corp purchased a new position in shares of DTE Energy in the 1st quarter valued at approximately $29,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Trading Down 0.2%

Shares of DTE stock opened at $140.12 on Tuesday. The stock's fifty day moving average is $138.38 and its two-hundred day moving average is $135.90. 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 $29.09 billion, a P/E ratio of 20.16, a PEG ratio of 3.01 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 $143.79.

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

Analyst Ratings Changes

DTE has been the subject of several research analyst reports. UBS Group increased their price objective on shares of DTE Energy from $148.00 to $158.00 and gave the company a "buy" rating in a research report on Friday. Scotiabank reiterated a "sector perform" rating and issued a $147.00 price target on shares of DTE Energy in a report on Friday, October 3rd. Wall Street Zen downgraded shares of DTE Energy from a "hold" rating to a "sell" rating in a report on Saturday. Barclays increased their price target on shares of DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. increased their price target on shares of DTE Energy from $145.00 to $147.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $145.25.

Insiders Place Their Bets

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 stock was sold at an average price of $140.53, for a total value of $224,848.00. Following the transaction, the vice president owned 4,153 shares in the company, valued at approximately $583,621.09. This trade represents a 27.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.33% of the company's stock.

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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