Optas LLC Purchases New Shares in DTE Energy Company $DTE

Key Points

• Optas LLC acquired 2,696 shares of DTE Energy Company, valued at approximately $357,000, reflecting a growing interest in the utilities sector by institutional investors.
• DTE Energy's stock recently opened at $140.05, with a current market cap of $29.07 billion, and a recent quarterly earnings report showed lower than expected earnings per share.
• Multiple analysts have revised their price targets for DTE Energy, with an average target price now standing at $144.00 and a consensus rating of "Moderate Buy" among investment analysts.

Optas LLC acquired a new position in DTE Energy Company (NYSE:DTE - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,696 shares of the utilities provider's stock, valued at approximately $357,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its position 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 period. JPMorgan Chase & Co. grew its position 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 period. Nuveen LLC acquired a new position in shares of DTE Energy in the 1st quarter valued at approximately $67,315,000. The Manufacturers Life Insurance Company grew its position in shares of DTE Energy by 44.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 721,209 shares of the utilities provider's stock valued at $99,722,000 after purchasing an additional 222,894 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of DTE Energy by 1,066.0% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 210,728 shares of the utilities provider's stock valued at $29,137,000 after purchasing an additional 192,656 shares during the period. 76.06% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Stock Down 1.1%

DTE stock opened at $140.05 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 firm has a market capitalization of $29.07 billion, a PE ratio of 20.15, a PEG ratio of 2.81 and a beta of 0.42. DTE Energy Company has a 1-year low of $115.59 and a 1-year high of $143.79. The business's 50 day simple moving average is $138.36 and its 200 day simple moving average is $135.83.

DTE Energy (NYSE:DTE - Get Free Report) last posted its 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 business had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.67 billion. DTE Energy had a return on equity of 12.72% and a net margin of 10.16%. As a group, research analysts anticipate that DTE Energy Company will post 7.18 EPS for the current year.

Insider Buying and Selling

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of the company'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 transaction, the vice president directly owned 4,153 shares of the company's stock, valued at $583,621.09. This represents a 27.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. BMO Capital Markets boosted their target price 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. Weiss Ratings restated a "buy (b-)" rating on shares of DTE Energy in a research note on Wednesday. Barclays boosted their target price on DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Finally, Scotiabank reiterated a "sector perform" rating and set a $147.00 price objective on shares of DTE Energy in a research note on Friday, October 3rd. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, DTE Energy currently has a consensus rating of "Moderate Buy" and an average target price of $144.00.

DTE Energy Company 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.

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