DTE Energy Company $DTE Shares Acquired by Nordea Investment Management AB

Key Points

• Nordea Investment Management AB increased its stake in DTE Energy by 5.3% in Q2, acquiring an additional 10,586 shares, bringing its total to 208,818 shares worth $27.47 million.
• Multiple institutional investors, including Goldman Sachs and JPMorgan Chase, significantly raised their holdings in DTE Energy during Q1, contributing to over 76% of the company's stock being owned by institutional investors and hedge funds.
• Analyst ratings on DTE Energy show a mix of upgrades and price target changes, with the consensus target price now at $146.08 and an average rating of "Moderate Buy" from research analysts.

Nordea Investment Management AB increased its holdings in DTE Energy Company (NYSE:DTE - Free Report) by 5.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 208,818 shares of the utilities provider's stock after acquiring an additional 10,586 shares during the quarter. Nordea Investment Management AB owned approximately 0.10% of DTE Energy worth $27,470,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Northern Trust Corp lifted its stake in shares of DTE Energy by 0.5% in the first quarter. Northern Trust Corp now owns 1,836,832 shares of the utilities provider's stock worth $253,979,000 after acquiring an additional 9,664 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in DTE Energy by 65.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,612,925 shares of the utilities provider's stock valued at $223,019,000 after buying an additional 637,378 shares in the last quarter. JPMorgan Chase & Co. raised its stake in DTE Energy by 57.4% during the first quarter. JPMorgan Chase & Co. now owns 1,405,516 shares of the utilities provider's stock valued at $194,341,000 after buying an additional 512,567 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in DTE Energy by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,316,107 shares of the utilities provider's stock valued at $181,978,000 after buying an additional 9,443 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in DTE Energy by 1.2% during the first quarter. Royal Bank of Canada now owns 1,173,220 shares of the utilities provider's stock valued at $162,221,000 after buying an additional 13,884 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company's stock.

Insider Transactions at DTE Energy

In related news, VP Lisa A. Muschong sold 1,600 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president directly owned 4,153 shares of the company's stock, valued at $583,621.09. This represents a 27.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.33% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on DTE. Morgan Stanley cut their price objective on DTE Energy from $140.00 to $137.00 and set an "overweight" rating on the stock in a research note on Thursday, September 25th. BMO Capital Markets upped 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 upped their price objective on DTE Energy from $138.00 to $148.00 and gave the company an "equal weight" rating in a research note on Tuesday. Wall Street Zen upgraded DTE Energy from a "sell" rating to a "hold" rating in a research note on Sunday. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of DTE Energy in a research note on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $146.08.

DTE Energy Stock Up 0.3%

NYSE:DTE opened at $141.99 on Friday. The firm has a market capitalization of $29.48 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 3.04 and a beta of 0.42. The stock has a 50 day moving average of $138.55 and a 200-day moving average of $136.02. DTE Energy Company has a 52 week low of $115.59 and a 52 week high of $143.79. 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 (NYSE:DTE - Get Free Report) last posted its earnings results on Tuesday, July 29th. The utilities provider reported $1.36 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 the consensus estimate of $2.67 billion. DTE Energy had a net margin of 10.16% and a return on equity of 12.72%. Analysts predict that DTE Energy Company will post 7.18 EPS for the current year.

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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