Oliver Lagore Vanvalin Investment Group Takes $1.19 Million Position in DTE Energy Company $DTE

Key Points

• Oliver Lagore Vanvalin Investment Group acquired a new stake in DTE Energy, purchasing 8,617 shares valued at approximately $1.19 million during the 2nd quarter.
• DTE Energy reported earnings of $1.36 per share for the quarter, slightly missing analysts' estimates, but generated revenue of $2.91 billion, exceeding expectations.
• Institutional investors hold 76.06% of DTE Energy's stock, indicating strong interest from larger investment firms.

Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of DTE Energy Company (NYSE:DTE - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 8,617 shares of the utilities provider's stock, valued at approximately $1,191,000.

A number of other hedge funds have also made changes to their positions in DTE. GAMMA Investing LLC lifted its position in shares of DTE Energy by 14,878.4% in the first quarter. GAMMA Investing LLC now owns 1,183,591 shares of the utilities provider's stock worth $163,655,000 after purchasing an additional 1,175,689 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in DTE Energy by 65.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,612,925 shares of the utilities provider's stock worth $223,019,000 after buying an additional 637,378 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in DTE Energy by 57.4% in the first quarter. JPMorgan Chase & Co. now owns 1,405,516 shares of the utilities provider's stock worth $194,341,000 after buying an additional 512,567 shares during the last quarter. Nuveen LLC acquired a new position in DTE Energy in the first quarter worth approximately $67,315,000. Finally, The Manufacturers Life Insurance Company increased its holdings in DTE Energy by 44.7% in the first quarter. The Manufacturers Life Insurance Company now owns 721,209 shares of the utilities provider's stock worth $99,722,000 after buying an additional 222,894 shares during the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Stock Performance

DTE stock traded up $0.48 during midday trading on Monday, hitting $136.15. The stock had a trading volume of 898,311 shares, compared to its average volume of 1,348,956. The firm has a market capitalization of $28.26 billion, a price-to-earnings ratio of 19.59, a P/E/G ratio of 2.69 and a beta of 0.42. DTE Energy Company has a 52 week low of $115.59 and a 52 week high of $142.05. The stock has a 50-day simple moving average of $137.55 and a 200 day simple moving average of $135.31. 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 issued its earnings results on Tuesday, July 29th. The utilities provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.01). The firm had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.67 billion. DTE Energy had a return on equity of 12.72% and a net margin of 10.16%. As a group, equities research analysts anticipate that DTE Energy Company will post 7.18 earnings per share for the current year.

Wall Street Analyst Weigh In

DTE has been the topic of a number of research reports. Wall Street Zen downgraded DTE Energy from a "hold" rating to a "sell" rating in a report on Sunday, September 14th. Barclays increased their price objective on DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. increased their price target on DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. BMO Capital Markets increased their price target on DTE Energy from $140.00 to $144.00 and gave the company a "market perform" rating in a report on Monday, August 25th. Finally, Morgan Stanley set a $140.00 price target on DTE Energy and gave the company an "overweight" rating in a report on Thursday, August 21st. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, DTE Energy currently has an average rating of "Moderate Buy" and a consensus price target of $144.25.

Insider Buying and Selling at DTE Energy

In other news, VP Lisa A. Muschong sold 1,600 shares of the firm's stock in a transaction 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 completion of the sale, the vice president directly owned 4,153 shares in the company, valued at approximately $583,621.09. This trade represents a 27.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company 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.