Concurrent Investment Advisors LLC Acquires New Shares in DTE Energy Company $DTE

Key Points

• Concurrent Investment Advisors LLC has acquired a new stake in DTE Energy Company, purchasing 5,376 shares valued at approximately $712,000 in the second quarter.
• Following recent trading activity, DTE Energy's stock is up 0.3%, with shares opening at $141.99 and a market cap of $29.48 billion.
• Several analysts have varied ratings on DTE Energy, with a current average rating of "Moderate Buy" and an average price target of $146.08.

Concurrent Investment Advisors LLC acquired a new stake in DTE Energy Company (NYSE:DTE - Free Report) in the second quarter, according to its most recent filing with the SEC. The fund acquired 5,376 shares of the utilities provider's stock, valued at approximately $712,000.

A number of other hedge funds have also bought and sold shares of DTE. Bessemer Group Inc. boosted its holdings in DTE Energy by 5.1% in the 1st quarter. Bessemer Group Inc. now owns 2,192 shares of the utilities provider's stock valued at $303,000 after purchasing an additional 107 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in DTE Energy in the 1st quarter valued at $567,000. Goldman Sachs Group Inc. boosted its holdings in DTE Energy by 65.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,612,925 shares of the utilities provider's stock valued at $223,019,000 after purchasing an additional 637,378 shares during the period. Focus Partners Wealth boosted its holdings in DTE Energy by 3.6% in the 1st quarter. Focus Partners Wealth now owns 181,905 shares of the utilities provider's stock valued at $25,152,000 after purchasing an additional 6,375 shares during the period. Finally, Janney Montgomery Scott LLC boosted its holdings in DTE Energy by 9.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 53,714 shares of the utilities provider's stock valued at $7,115,000 after purchasing an additional 4,838 shares during the period. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

DTE Energy Trading Up 0.3%

Shares of DTE stock opened at $141.99 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.94 and a debt-to-equity ratio of 1.96. The business has a 50-day moving average price of $138.55 and a two-hundred day moving average price of $136.03. DTE Energy Company has a 12-month low of $115.59 and a 12-month high of $143.79. The firm has a market cap of $29.48 billion, a P/E ratio of 20.43, a price-to-earnings-growth ratio of 3.03 and a beta of 0.42.

DTE Energy (NYSE:DTE - Get Free Report) last posted its quarterly 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). The business had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.67 billion. DTE Energy had a return on equity of 12.72% and a net margin of 10.16%. Equities analysts anticipate that DTE Energy Company will post 7.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on DTE. Scotiabank reissued a "sector perform" rating and issued a $147.00 price target on shares of DTE Energy in a report on Friday, October 3rd. Morgan Stanley cut their price target 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. Wall Street Zen downgraded shares of DTE Energy from a "hold" rating to a "sell" rating in a report on Saturday, October 11th. Weiss Ratings reissued a "buy (b-)" rating on shares of DTE Energy in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their price target on DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a research 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. According to data from MarketBeat, DTE Energy presently has an average rating of "Moderate Buy" and an average price target of $146.08.

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 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 of the company's stock, valued at $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 SEC, which is available at the SEC website. 0.33% of the stock is 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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