Peddock Capital Advisors LLC Buys 2,575 Shares of DTE Energy Company $DTE

Key Points

• Peddock Capital Advisors LLC raised its stake in DTE Energy by 30.8%, acquiring an additional 2,575 shares, bringing its total holdings to 10,943 shares worth approximately $1.45 million.
• DTE Energy reported a Q2 EPS of $1.36, slightly missing estimates, but achieved a revenue of $2.91 billion, exceeding the consensus of $2.67 billion.
• Institutional investors own 76.06% of DTE Energy's stock, highlighting strong interest from large investment firms.

Peddock Capital Advisors LLC increased its stake in DTE Energy Company (NYSE:DTE - Free Report) by 30.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,943 shares of the utilities provider's stock after purchasing an additional 2,575 shares during the period. Peddock Capital Advisors LLC's holdings in DTE Energy were worth $1,450,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Graypoint LLC raised its position in DTE Energy by 3.8% in the 1st quarter. Graypoint LLC now owns 2,021 shares of the utilities provider's stock worth $279,000 after purchasing an additional 74 shares during the last quarter. UMB Bank n.a. grew its holdings in DTE Energy by 0.9% during the 1st quarter. UMB Bank n.a. now owns 9,041 shares of the utilities provider's stock worth $1,250,000 after acquiring an additional 78 shares during the period. OneDigital Investment Advisors LLC grew its holdings in DTE Energy by 2.0% during the 1st quarter. OneDigital Investment Advisors LLC now owns 3,918 shares of the utilities provider's stock worth $542,000 after acquiring an additional 78 shares during the period. Stephens Inc. AR grew its holdings in DTE Energy by 1.8% during the 1st quarter. Stephens Inc. AR now owns 4,555 shares of the utilities provider's stock worth $630,000 after acquiring an additional 81 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in DTE Energy by 1.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 6,721 shares of the utilities provider's stock worth $929,000 after acquiring an additional 82 shares during the period. Institutional investors own 76.06% of the company's stock.

DTE Energy Trading Up 1.2%

DTE opened at $137.71 on Wednesday. The firm's fifty day simple moving average is $137.68 and its 200 day simple moving average is $135.36. 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 Company has a 12 month low of $115.59 and a 12 month high of $142.05. The stock has a market capitalization of $28.59 billion, a P/E ratio of 19.81, a P/E/G ratio of 2.70 and a beta of 0.42.

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

Wall Street Analyst Weigh In

A number of research firms have commented on DTE. 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. BMO Capital Markets boosted their price target on shares of DTE Energy from $140.00 to $144.00 and gave the company a "market perform" rating in a report on Monday, August 25th. Wall Street Zen lowered shares of DTE Energy from a "hold" rating to a "sell" rating in a report on Sunday, September 14th. Barclays boosted their price target on shares of DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. boosted their price target on shares of DTE Energy from $145.00 to $147.00 and gave the company 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $144.25.

Insider Buying and Selling

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $140.53, for a total transaction of $224,848.00. Following the sale, the vice president directly owned 4,153 shares of the company's stock, valued at $583,621.09. The trade was a 27.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.33% of the stock is owned by company insiders.

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.

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