Patton Albertson Miller Group LLC Has $4.37 Million Stake in DTE Energy Company $DTE

Key Points

• Patton Albertson Miller Group LLC increased its stake in DTE Energy by 7.9% during the 2nd quarter, ultimately owning 32,961 shares worth approximately $4.37 million.
• Institutional investors hold a significant majority of DTE Energy's stock, with 76.06% ownership by various hedge funds, indicating strong institutional interest in the company.
• Following recent earnings reports, several analysts have adjusted their price targets on DTE Energy, with the current consensus rating being "Moderate Buy" and an average price target of $144.00.

Patton Albertson Miller Group LLC boosted its position in DTE Energy Company (NYSE:DTE - Free Report) by 7.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,961 shares of the utilities provider's stock after buying an additional 2,407 shares during the period. Patton Albertson Miller Group LLC's holdings in DTE Energy were worth $4,366,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of DTE. GAMMA Investing LLC raised its holdings in shares of DTE Energy by 14,878.4% during the first quarter. GAMMA Investing LLC now owns 1,183,591 shares of the utilities provider's stock valued at $163,655,000 after purchasing an additional 1,175,689 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of DTE Energy by 65.3% during the first 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. raised its holdings in shares of DTE Energy by 57.4% during the first 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 during the first quarter valued at about $67,315,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of DTE Energy by 44.7% during the first 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. Institutional investors and hedge funds own 76.06% of the company's stock.

Insider Transactions at DTE Energy

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of the company's 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 directly owned 4,153 shares of the company's stock, valued at approximately $583,621.09. This represents a 27.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on DTE. Morgan Stanley dropped their price objective on shares of DTE Energy from $140.00 to $137.00 and set an "overweight" rating on the stock in a report on Thursday. Barclays upped their target price on shares of DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Wall Street Zen lowered shares of DTE Energy from a "hold" rating to a "sell" rating in a report on Sunday, September 14th. BMO Capital Markets upped their target price on shares of DTE Energy from $140.00 to $144.00 and gave the stock a "market perform" rating in a report on Monday, August 25th. Finally, JPMorgan Chase & Co. upped 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. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $144.00.

DTE Energy Trading Up 1.2%

Shares of DTE stock opened at $139.36 on Friday. DTE Energy Company has a 52-week low of $115.59 and a 52-week high of $142.05. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.57 and a current ratio of 0.94. The company has a 50-day simple moving average of $137.87 and a two-hundred day simple moving average of $135.51. The company has a market capitalization of $28.93 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 2.77 and a beta of 0.42.

DTE Energy (NYSE:DTE - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.37 by ($0.01). DTE Energy had a return on equity of 12.72% and a net margin of 10.16%.The firm had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.67 billion. Research analysts anticipate that DTE Energy Company will post 7.18 EPS for the current fiscal 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.

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