Mn Services Vermogensbeheer B.V. Boosts Stake in DTE Energy Company $DTE

Key Points

• Mn Services Vermogensbeheer B.V. increased its stake in DTE Energy by 3.9%, acquiring an additional 2,900 shares during the second quarter, bringing its total holdings to $10.27 million.
• Several institutional investors have also made moves with DTE Energy, with 76.06% of the company's stock now held by such entities, suggesting strong interest in the utilities provider.
• Wall Street analysts have a positive outlook on DTE Energy, with multiple firms issuing buy ratings and setting price targets as high as $151.00, indicating a generally optimistic future for the stock.

Mn Services Vermogensbeheer B.V. grew its holdings in shares of DTE Energy Company (NYSE:DTE - Free Report) by 3.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 77,547 shares of the utilities provider's stock after purchasing an additional 2,900 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in DTE Energy were worth $10,272,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DTE. Bessemer Group Inc. boosted its position in shares of DTE Energy by 5.1% during the 1st 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 last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in DTE Energy during the 1st quarter valued at $567,000. Goldman Sachs Group Inc. raised its holdings in DTE Energy by 65.3% during the 1st 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 during the period. Oppenheimer & Co. Inc. increased its stake in DTE Energy by 17.7% in the first quarter. Oppenheimer & Co. Inc. now owns 2,118 shares of the utilities provider's stock worth $293,000 after purchasing an additional 318 shares during the period. Finally, Focus Partners Wealth increased its stake in DTE Energy by 3.6% in the first quarter. Focus Partners Wealth now owns 181,905 shares of the utilities provider's stock worth $25,152,000 after purchasing an additional 6,375 shares during the period. 76.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on DTE shares. BMO Capital Markets increased their target price 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. Wall Street Zen downgraded DTE Energy from a "hold" rating to a "sell" rating in a research report on Sunday, September 14th. Barclays increased their price target on DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. JPMorgan Chase & Co. increased their price target 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, Morgan Stanley set a $140.00 price target on DTE Energy and gave the stock an "overweight" rating in a research report on Thursday, August 21st. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, DTE Energy has an average rating of "Moderate Buy" and an average price target of $144.25.

DTE Energy Stock Performance

DTE stock traded up $0.86 during trading on Monday, hitting $136.53. 339,526 shares of the company traded hands, compared to its average volume of 1,348,608. The stock's 50-day simple moving average is $137.55 and its 200 day simple moving average is $135.31. 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 cap of $28.34 billion, a PE ratio of 19.64, a P/E/G ratio of 2.69 and a beta of 0.42. DTE Energy Company has a 1 year low of $115.59 and a 1 year high of $142.05.

DTE Energy (NYSE:DTE - Get Free Report) last announced 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 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%. On average, equities analysts expect that DTE Energy Company will post 7.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP Lisa A. Muschong sold 1,600 shares of DTE Energy 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 directly owned 4,153 shares of the company's stock, valued at $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 is available at this link. 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.