NorthCrest Asset Manangement LLC Invests $254,000 in DTE Energy Company $DTE

Key Points

• NorthCrest Asset Management LLC purchased 1,925 shares of DTE Energy Company valued at approximately $254,000 during the second quarter, adding to the significant institutional investment in the stock, which is currently 76.06% owned by institutional investors.
• Recent analyst ratings for DTE Energy include a target price increase from Barclays ($138) and BMO Capital Markets ($144), while Morgan Stanley set a higher target of $140 with an "overweight" rating, indicating positive market outlook.
• DTE Energy reported earnings of $1.36 per share, slightly missing the consensus estimate, yet achieved revenue of $2.91 billion, surpassing expectations of $2.67 billion for the quarter.

NorthCrest Asset Manangement LLC acquired a new position in DTE Energy Company (NYSE:DTE - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,925 shares of the utilities provider's stock, valued at approximately $254,000.

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

Insiders Place Their Bets

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 shares were sold at an average price of $140.53, for a total value of $224,848.00. Following the transaction, the vice president owned 4,153 shares of the company's stock, valued at $583,621.09. This trade represents a 27.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

DTE has been the topic of several recent research reports. Morgan Stanley set a $140.00 target price on shares of DTE Energy and gave the stock an "overweight" rating in a report on Thursday, August 21st. JPMorgan Chase & Co. raised their target price on shares of DTE Energy from $145.00 to $147.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. BMO Capital Markets lifted their price target on DTE Energy from $140.00 to $144.00 and gave the company 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 note on Sunday, September 14th. Finally, Barclays raised their target price on DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, DTE Energy has a consensus rating of "Moderate Buy" and an average target price of $144.25.

DTE Energy Price Performance

Shares of NYSE DTE traded up $0.48 during trading on Monday, reaching $136.15. The company had a trading volume of 898,938 shares, compared to its average volume of 986,740. The stock has a market capitalization of $28.26 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 2.69 and a beta of 0.42. The stock has a 50-day moving average price of $137.55 and a two-hundred day moving average price of $135.31. DTE Energy Company has a twelve month low of $115.59 and a twelve month high of $142.05. The company has a current ratio of 0.94, a quick ratio of 0.57 and a debt-to-equity ratio of 1.96.

DTE Energy (NYSE:DTE - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.67 billion. DTE Energy had a net margin of 10.16% and a return on equity of 12.72%. As a group, sell-side analysts predict that DTE Energy Company will post 7.18 earnings per share for the current year.

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.