New York State Teachers Retirement System Purchases 16,579 Shares of DTE Energy Company $DTE

Key Points

• The New York State Teachers Retirement System increased its holdings in DTE Energy by 9.2%, now owning approximately 0.09% of the company valued at about $25.9 million.
• Goldman Sachs Group Inc. significantly boosted its stake in DTE Energy by 65.3%, reflecting a growing interest among institutional investors, which now own 76.06% of the stock.
• Analysts have mixed ratings for DTE Energy, with seven rating it as a Buy and an average price target of $146.08 per share.

New York State Teachers Retirement System grew its position in DTE Energy Company (NYSE:DTE - Free Report) by 9.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 195,858 shares of the utilities provider's stock after purchasing an additional 16,579 shares during the quarter. New York State Teachers Retirement System owned approximately 0.09% of DTE Energy worth $25,943,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Northern Trust Corp boosted its stake in shares of DTE Energy by 0.5% in the 1st quarter. Northern Trust Corp now owns 1,836,832 shares of the utilities provider's stock valued at $253,979,000 after purchasing an additional 9,664 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of DTE Energy by 65.3% in 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 purchasing an additional 637,378 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of DTE Energy by 57.4% in the 1st quarter. JPMorgan Chase & Co. now owns 1,405,516 shares of the utilities provider's stock valued at $194,341,000 after purchasing an additional 512,567 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of DTE Energy by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,316,107 shares of the utilities provider's stock valued at $181,978,000 after purchasing an additional 9,443 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of DTE Energy by 1.2% in the 1st quarter. Royal Bank of Canada now owns 1,173,220 shares of the utilities provider's stock valued at $162,221,000 after purchasing an additional 13,884 shares during the last quarter. 76.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Scotiabank reissued a "sector perform" rating and set a $147.00 target price on shares of DTE Energy in a research note on Friday, October 3rd. Weiss Ratings reissued a "buy (b-)" rating on shares of DTE Energy in a research note on Wednesday, October 8th. UBS Group increased their target price on shares of DTE Energy from $148.00 to $158.00 and gave the stock a "buy" rating in a research note on Friday, October 10th. Morgan Stanley cut their target price on shares of DTE Energy from $140.00 to $137.00 and set an "overweight" rating on the stock in a research note on Thursday, September 25th. Finally, BMO Capital Markets increased 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 note on Monday, August 25th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $146.08.

DTE Energy Stock Performance

DTE opened at $141.99 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.57 and a debt-to-equity ratio of 1.96. The company's fifty day moving average price is $138.55 and its two-hundred day moving average price is $136.03. DTE Energy Company has a 1-year low of $115.59 and a 1-year high of $143.79. The company has a market cap of $29.48 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 3.03 and a beta of 0.42.

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 the consensus estimate of $1.37 by ($0.01). DTE Energy had a return on equity of 12.72% and a net margin of 10.16%.The business had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.67 billion. On average, analysts expect that DTE Energy Company will post 7.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP Lisa A. Muschong sold 1,600 shares of the stock in a transaction dated Thursday, August 14th. The shares were 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. This represents a 27.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.

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