Columbia Asset Management Sells 515,303 Shares of DTE Energy Company $DTE

Key Points

• Columbia Asset Management significantly reduced its stake in DTE Energy by 97.9%, selling 515,303 shares and holding just 11,272 shares at the end of the second quarter.
• DTE Energy's shares are currently valued at approximately $141.37, with the company reporting a net margin of 10.16% and earnings of $1.36 per share, slightly below analysts' expectations.
• Various hedge funds have increased their holdings in DTE Energy, with Janney Montgomery Scott LLC increasing its stake by 9.9%, now owning 53,714 shares worth $7.1 million.

Columbia Asset Management reduced its holdings in DTE Energy Company (NYSE:DTE - Free Report) by 97.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,272 shares of the utilities provider's stock after selling 515,303 shares during the quarter. Columbia Asset Management's holdings in DTE Energy were worth $1,493,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Janney Montgomery Scott LLC increased its holdings in DTE Energy by 9.9% in the second quarter. Janney Montgomery Scott LLC now owns 53,714 shares of the utilities provider's stock worth $7,115,000 after purchasing an additional 4,838 shares in the last quarter. V Square Quantitative Management LLC increased its holdings in DTE Energy by 9.4% in the second quarter. V Square Quantitative Management LLC now owns 3,218 shares of the utilities provider's stock worth $426,000 after purchasing an additional 276 shares in the last quarter. City Holding Co. increased its holdings in DTE Energy by 3.3% in the second quarter. City Holding Co. now owns 8,327 shares of the utilities provider's stock worth $1,103,000 after purchasing an additional 263 shares in the last quarter. Patton Albertson Miller Group LLC increased its holdings in DTE Energy by 7.9% in the second quarter. Patton Albertson Miller Group LLC now owns 32,961 shares of the utilities provider's stock worth $4,366,000 after purchasing an additional 2,407 shares in the last quarter. Finally, First American Bank increased its holdings in DTE Energy by 5.2% in the second quarter. First American Bank now owns 12,938 shares of the utilities provider's stock worth $1,714,000 after purchasing an additional 634 shares in the last quarter. 76.06% of the stock is currently owned by institutional investors.

DTE Energy Stock Up 0.4%

Shares of NYSE:DTE opened at $141.37 on Wednesday. The stock has a market cap of $29.35 billion, a price-to-earnings ratio of 20.34, a PEG ratio of 2.80 and a beta of 0.42. 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 12-month low of $115.59 and a 12-month high of $142.05. The business's 50 day moving average is $137.97 and its 200 day moving average is $135.60.

DTE Energy (NYSE:DTE - Get Free Report) last announced its 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 company had revenue of $2.91 billion for 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%. On average, sell-side analysts forecast that DTE Energy Company will post 7.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of the business'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 of the company's stock, valued at approximately $583,621.09. The trade was a 27.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.33% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on DTE Energy from $145.00 to $147.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. Wall Street Zen cut DTE Energy from a "hold" rating to a "sell" rating in a research note on Sunday, September 14th. 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. Barclays raised their price objective on DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Finally, Morgan Stanley reduced their price objective on DTE Energy from $140.00 to $137.00 and set an "overweight" rating for the company in a research note on Thursday, September 25th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $144.00.

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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