FCG Investment Co Buys Shares of 8,747 DTE Energy Company $DTE

Key Points

• FCG Investment Co has acquired a new stake of 8,747 shares in DTE Energy, totaling approximately $1,159,000, as reported in their Form 13F filing.
• DTE Energy reported $1.36 earnings per share for the last quarter, slightly missing analysts’ expectations, while revenues reached $2.91 billion.
• Analysts have adjusted their price targets for DTE Energy, with Morgan Stanley reducing it to $137.00, while JPMorgan Chase & Co. raised theirs to $147.00.

FCG Investment Co purchased a new stake in shares of DTE Energy Company (NYSE:DTE - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,747 shares of the utilities provider's stock, valued at approximately $1,159,000.

A number of other institutional investors have also modified their holdings of DTE. Cloud Capital Management LLC bought a new position in shares of DTE Energy during the 1st quarter worth approximately $25,000. Quintet Private Bank Europe S.A. purchased a new position in DTE Energy in the second quarter worth $25,000. Olde Wealth Management LLC acquired a new position in shares of DTE Energy during the first quarter worth $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of DTE Energy during the 1st quarter valued at $28,000. Finally, SouthState Corp acquired a new stake in shares of DTE Energy in the 1st quarter worth $29,000. 76.06% of the stock is currently owned by institutional investors.

DTE Energy Trading Down 0.8%

NYSE DTE opened at $137.64 on Friday. DTE Energy Company has a 1 year low of $115.59 and a 1 year high of $142.05. 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 company has a market capitalization of $28.57 billion, a PE ratio of 19.80, a P/E/G ratio of 2.76 and a beta of 0.42. The company has a fifty day moving average of $137.83 and a 200 day moving average of $135.43.

DTE Energy (NYSE:DTE - Get Free Report) last released its quarterly earnings data 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 company had revenue of $2.91 billion for 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%. Research analysts forecast that DTE Energy Company will post 7.18 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on DTE. Morgan Stanley reduced their target price on DTE Energy from $140.00 to $137.00 and set an "overweight" rating on the stock in a research report on Thursday. Wall Street Zen downgraded shares of DTE Energy from a "hold" rating to a "sell" rating in a report on Sunday, September 14th. JPMorgan Chase & Co. increased their price objective on shares of DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Barclays lifted their target price 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. Finally, BMO Capital Markets upped their price target 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. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $144.00.

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 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 approximately $583,621.09. The trade was a 27.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.33% of the company's stock.

About DTE Energy

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.