Nykredit A S Purchases Shares of 41,970 DTE Energy Company $DTE

Key Points

• Nykredit A/S initiated a position in DTE Energy during the second quarter, purchasing 41,970 shares valued at approximately $6.4 million. Institutional investors collectively own 76.06% of the company.
• Analysts maintain a generally positive view, with DTE holding a consensus “Moderate Buy” rating and an average price target of $156.46, despite several recent target-price reductions.
• DTE Energy exceeded quarterly earnings expectations, reporting adjusted EPS of $1.32 versus the $1.14 consensus estimate. The stock recently opened at $126.05, near its 52-week low of $125.76.

Nykredit A S bought a new position in shares of DTE Energy Company (NYSE:DTE - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 41,970 shares of the utilities provider's stock, valued at approximately $6,395,000.

Several other large investors also recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund raised its stake in DTE Energy by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 23,807 shares of the utilities provider's stock worth $3,481,000 after acquiring an additional 71 shares in the last quarter. Whittier Trust Co. boosted its stake in DTE Energy by 3.5% in the first quarter. Whittier Trust Co. now owns 2,220 shares of the utilities provider's stock valued at $328,000 after acquiring an additional 75 shares in the last quarter. Prosperity Consulting Group LLC grew its holdings in shares of DTE Energy by 1.2% during the first quarter. Prosperity Consulting Group LLC now owns 6,342 shares of the utilities provider's stock worth $927,000 after purchasing an additional 76 shares during the last quarter. MeadowBrook Investment Advisors LLC grew its holdings in shares of DTE Energy by 3.6% during the first quarter. MeadowBrook Investment Advisors LLC now owns 2,504 shares of the utilities provider's stock worth $366,000 after purchasing an additional 88 shares during the last quarter. Finally, Glenview Trust Co increased its position in shares of DTE Energy by 2.9% during the fourth quarter. Glenview Trust Co now owns 3,316 shares of the utilities provider's stock worth $428,000 after purchasing an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 76.06% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group set a $172.00 target price on shares of DTE Energy in a research report on Thursday, July 9th. Mizuho decreased their price target on shares of DTE Energy from $164.00 to $152.00 and set an "outperform" rating for the company in a research note on Thursday, August 27th. BMO Capital Markets lowered their price objective on shares of DTE Energy from $150.00 to $143.00 and set a "market perform" rating on the stock in a research report on Friday, August 28th. Morgan Stanley reduced their target price on shares of DTE Energy from $148.00 to $141.00 and set an "overweight" rating for the company in a report on Friday. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $165.00 target price on shares of DTE Energy in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $156.46.

DTE Energy Price Performance

DTE Energy stock opened at $126.05 on Tuesday. The firm has a market capitalization of $26.23 billion, a PE ratio of 19.94, a P/E/G ratio of 2.79 and a beta of 0.37. DTE Energy Company has a 52 week low of $125.76 and a 52 week high of $155.74. The firm's 50-day simple moving average is $139.10 and its 200 day simple moving average is $144.10. The company has a quick ratio of 0.53, a current ratio of 0.80 and a debt-to-equity ratio of 2.13.

DTE Energy (NYSE:DTE - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.18. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. The company had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $3.36 billion. During the same quarter in the prior year, the firm earned $1.36 earnings per share. On average, equities research analysts predict that DTE Energy Company will post 7.71 EPS for the current fiscal year.

Insider Activity

In related news, Vice Chairman Trevor Lauer sold 5,000 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $135.71, for a total transaction of $678,550.00. Following the transaction, the insider directly owned 73,122 shares in the company, valued at approximately $9,923,386.62. This represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is owned by company insiders.

DTE Energy Profile

DTE Energy Company is a diversified energy holding company headquartered in Detroit, Michigan. Its principal businesses are DTE Electric, which generates, transmits and distributes electricity, and DTE Gas, which stores, transports and distributes natural gas. Through these utilities, the company serves residential, commercial and industrial customers primarily throughout southeastern Michigan.

DTE Energy also operates businesses involved in energy marketing and trading, renewable and conventional power generation, and other energy-related services.

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