IFP Advisors Inc Sells 13,754 Shares of DTE Energy Company $DTE

Key Points

• IFP Advisors Inc has reduced its stake in DTE Energy Company by 80.7%, now holding only 3,292 shares after selling 13,754 shares in Q2.
• DTE Energy reported quarterly earnings of $1.36 per share, which missed the consensus estimate by $0.01, despite generating a revenue of $2.91 billion, exceeding expectations.
• Currently, DTE Energy has an average analyst rating of "Moderate Buy" with a consensus target price of $146.08.

IFP Advisors Inc lessened its stake in DTE Energy Company (NYSE:DTE - Free Report) by 80.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,292 shares of the utilities provider's stock after selling 13,754 shares during the period. IFP Advisors Inc's holdings in DTE Energy were worth $447,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cloud Capital Management LLC bought a new position in DTE Energy during the 1st quarter valued at approximately $25,000. Quintet Private Bank Europe S.A. bought a new position in DTE Energy during the 2nd quarter valued at approximately $25,000. Olde Wealth Management LLC bought a new position in DTE Energy during the 1st quarter valued at approximately $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in DTE Energy during the 1st quarter valued at approximately $28,000. Finally, SouthState Corp bought a new position in DTE Energy during the 1st quarter valued at approximately $29,000. Institutional investors own 76.06% of the company's stock.

DTE Energy Stock Performance

DTE Energy stock opened at $141.81 on Wednesday. The company has a quick ratio of 0.57, a current ratio of 0.94 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $29.44 billion, a P/E ratio of 20.40, a PEG ratio of 3.00 and a beta of 0.42. The stock's 50 day moving average is $138.42 and its 200 day moving average is $135.94. DTE Energy Company has a twelve month low of $115.59 and a twelve month high of $143.79.

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Scotiabank reaffirmed a "sector perform" rating and set a $147.00 price target on shares of DTE Energy in a research report on Friday, October 3rd. Morgan Stanley lowered their price target on DTE Energy from $140.00 to $137.00 and set an "overweight" rating for the company in a research report on Thursday, September 25th. Barclays upped their price target on DTE Energy from $138.00 to $148.00 and gave the company an "equal weight" rating in a research report on Tuesday. UBS Group increased their target price on DTE Energy from $148.00 to $158.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of DTE Energy in a research report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, DTE Energy presently has an average rating of "Moderate Buy" and a consensus target price of $146.08.

Insider Buying and Selling at DTE Energy

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

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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