DTE Energy Company $DTE Shares Bought by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC increased its stake in DTE Energy by 9.9% in Q2, owning 53,714 shares valued at approximately $7.1 million.
• DTE Energy reported a Q2 EPS of $1.36, slightly missing estimates, but exceeded revenue expectations with $2.91 billion for the quarter.
• Analysts maintain a consensus rating of "Moderate Buy" for DTE Energy, with an average price target of $144.00.

Janney Montgomery Scott LLC raised its holdings in DTE Energy Company (NYSE:DTE - Free Report) by 9.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 53,714 shares of the utilities provider's stock after acquiring an additional 4,838 shares during the quarter. Janney Montgomery Scott LLC's holdings in DTE Energy were worth $7,115,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. lifted its holdings in DTE Energy by 5.1% in the first quarter. Bessemer Group Inc. now owns 2,192 shares of the utilities provider's stock valued at $303,000 after acquiring an additional 107 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in DTE Energy in the first quarter valued at $567,000. Goldman Sachs Group Inc. lifted its holdings in DTE Energy by 65.3% in 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 acquiring an additional 637,378 shares during the period. Focus Partners Wealth raised its stake in shares of DTE Energy by 3.6% during the 1st quarter. Focus Partners Wealth now owns 181,905 shares of the utilities provider's stock worth $25,152,000 after buying an additional 6,375 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in shares of DTE Energy by 17.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 2,118 shares of the utilities provider's stock worth $293,000 after buying an additional 318 shares during the last quarter. Institutional investors and hedge funds own 76.06% of the company's stock.

DTE Energy Stock Up 0.5%

DTE opened at $140.02 on Monday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.94 and a quick ratio of 0.57. The stock has a market capitalization of $29.07 billion, a price-to-earnings ratio of 20.15, a price-to-earnings-growth ratio of 2.78 and a beta of 0.42. The business has a 50-day moving average of $138.02 and a two-hundred day moving average of $135.68. DTE Energy Company has a 12 month low of $115.59 and a 12 month high of $142.05.

DTE Energy (NYSE:DTE - Get Free Report) last posted its quarterly 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 business had revenue of $2.91 billion during 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, research analysts expect that DTE Energy Company will post 7.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DTE. Scotiabank reaffirmed a "sector perform" rating and set a $147.00 price target on shares of DTE Energy in a research note on Friday. Wall Street Zen raised DTE Energy from a "sell" rating to a "hold" rating in a research note on Friday. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of DTE Energy in a research note on Saturday, September 27th. Morgan Stanley cut their price target 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. Finally, BMO Capital Markets lifted their price target on DTE Energy from $140.00 to $144.00 and gave the stock a "market perform" rating in a research note on Monday, August 25th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $144.00.

Insider Buying and Selling

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of DTE Energy stock in a transaction dated 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 sale, the vice president owned 4,153 shares in the company, valued at $583,621.09. The trade was a 27.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is owned by company insiders.

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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