DTE Energy Company $DTE Holdings Boosted by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in DTE Energy by 197.2%, owning 79,431 shares valued at approximately $10.48 million as of the latest SEC filing.
• VP Lisa A. Muschong sold 1,600 shares of DTE Energy at an average price of $140.53, marking a 27.81% decrease in her holdings.
• DTE Energy's stock has a target price increase from various analysts, with an average price target of $144.25 and a rating of "Moderate Buy".

Wealth Enhancement Advisory Services LLC boosted its position in shares of DTE Energy Company (NYSE:DTE - Free Report) by 197.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 79,431 shares of the utilities provider's stock after purchasing an additional 52,701 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in DTE Energy were worth $10,480,000 at the end of the most recent reporting period.

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

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 transaction of $224,848.00. Following the completion of the transaction, the vice president owned 4,153 shares of the company's stock, valued at $583,621.09. The trade was a 27.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is currently owned by corporate insiders.

DTE Energy Stock Up 0.4%

DTE stock opened at $136.15 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.57 and a debt-to-equity ratio of 1.96. DTE Energy Company has a 1 year low of $115.59 and a 1 year high of $142.05. The company has a fifty day simple moving average of $137.59 and a 200 day simple moving average of $135.35. The firm has a market cap of $28.26 billion, a PE ratio of 19.59, a PEG ratio of 2.69 and a beta of 0.42.

DTE Energy (NYSE:DTE - Get Free Report) last released its earnings results 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 for the quarter, compared to analyst estimates of $2.67 billion. DTE Energy had a return on equity of 12.72% and a net margin of 10.16%. Sell-side analysts anticipate that DTE Energy Company will post 7.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Morgan Stanley set a $140.00 target price on shares of DTE Energy and gave the company an "overweight" rating in a research note on Thursday, August 21st. BMO Capital Markets lifted their target price on shares of 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 lifted their target price on shares of DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Wall Street Zen lowered shares of DTE Energy from a "hold" rating to a "sell" rating in a research note on Sunday, September 14th. Finally, JPMorgan Chase & Co. lifted their target price on shares of DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $144.25.

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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