DTE Energy Company $DTE Shares Bought by Cranbrook Wealth Management LLC

Key Points

• Cranbrook Wealth Management LLC significantly increased its stake in DTE Energy by 322.5% during the 2nd quarter, owning 6,541 shares valued at $866,000.
• Several analysts have raised their target prices for DTE Energy, with BMO Capital Markets setting a new target of $144.00 while maintaining a "market perform" rating.
• DTE Energy reported $1.36 earnings per share for the last quarter, missing analyst expectations by $0.01, with revenues of $2.91 billion.

Cranbrook Wealth Management LLC lifted its position in shares of DTE Energy Company (NYSE:DTE - Free Report) by 322.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 6,541 shares of the utilities provider's stock after buying an additional 4,993 shares during the period. Cranbrook Wealth Management LLC's holdings in DTE Energy were worth $866,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DTE. CHICAGO TRUST Co NA purchased a new position in shares of DTE Energy during the 2nd quarter worth $773,000. Opal Wealth Advisors LLC purchased a new position in DTE Energy during the second quarter worth about $146,000. GAMMA Investing LLC boosted its stake in DTE Energy by 3.7% in the 2nd quarter. GAMMA Investing LLC now owns 8,878 shares of the utilities provider's stock worth $1,176,000 after buying an additional 318 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in DTE Energy by 40.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 6,008 shares of the utilities provider's stock valued at $796,000 after buying an additional 1,737 shares during the period. Finally, Adirondack Trust Co. increased its stake in shares of DTE Energy by 40.5% during the 2nd quarter. Adirondack Trust Co. now owns 1,200 shares of the utilities provider's stock valued at $159,000 after acquiring an additional 346 shares during the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DTE has been the topic of several research analyst reports. BMO Capital Markets raised their target price on shares of DTE Energy from $140.00 to $144.00 and gave the stock a "market perform" rating in a research report on Monday, August 25th. 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 research note on Tuesday, July 15th. Morgan Stanley set a $140.00 price objective on shares of DTE Energy and gave the company an "overweight" rating in a research note on Thursday, August 21st. JPMorgan Chase & Co. increased their target price on DTE Energy from $145.00 to $147.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Finally, Wall Street Zen downgraded DTE Energy from a "hold" rating to a "sell" rating in a research report on Sunday, September 14th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $144.25.

DTE Energy Price Performance

Shares of NYSE DTE opened at $137.71 on Wednesday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.94 and a quick ratio of 0.57. DTE Energy Company has a 1-year low of $115.59 and a 1-year high of $142.05. The company has a market capitalization of $28.59 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 2.70 and a beta of 0.42. The business has a 50-day moving average of $137.68 and a 200-day moving average of $135.36.

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

Insider Buying and Selling

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $140.53, for a total transaction of $224,848.00. Following the completion of the sale, the vice president owned 4,153 shares in the company, valued at $583,621.09. This trade represents a 27.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.33% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.