QRG Capital Management Inc. Boosts Stock Position in DTE Energy Company $DTE

Key Points

• QRG Capital Management Inc. increased its stake in DTE Energy Company by 33.7% during the second quarter, acquiring an additional 11,754 shares, bringing their total holdings to 46,651 shares valued at approximately $6.18 million.
• DTE Energy's latest earnings report indicated an EPS of $1.36, missing analyst expectations, but revenue of $2.91 billion surpassed estimates of $2.67 billion.
• In recent analyst reports, DTE Energy's price targets have varied, with Barclays raising their target to $138 and BMO Capital Markets increasing theirs to $144, amid a consensus rating of "Moderate Buy."

QRG Capital Management Inc. raised its stake in shares of DTE Energy Company (NYSE:DTE - Free Report) by 33.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 46,651 shares of the utilities provider's stock after acquiring an additional 11,754 shares during the period. QRG Capital Management Inc.'s holdings in DTE Energy were worth $6,179,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its stake in DTE Energy by 5.1% during the 1st quarter. Bessemer Group Inc. now owns 2,192 shares of the utilities provider's stock valued at $303,000 after acquiring an additional 107 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in DTE Energy during the 1st quarter valued at approximately $567,000. Goldman Sachs Group Inc. increased its position in DTE Energy by 65.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,612,925 shares of the utilities provider's stock worth $223,019,000 after purchasing an additional 637,378 shares during the period. Focus Partners Wealth raised its stake in shares of DTE Energy by 3.6% during the 1st quarter. Focus Partners Wealth now owns 181,905 shares of the utilities provider's stock worth $25,152,000 after buying an additional 6,375 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its holdings in shares of DTE Energy by 17.7% in the 1st quarter. Oppenheimer & Co. Inc. now owns 2,118 shares of the utilities provider's stock valued at $293,000 after buying an additional 318 shares during the period. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Price Performance

Shares of NYSE:DTE opened at $140.02 on Monday. The business's fifty day moving average price is $138.02 and its two-hundred day moving average price is $135.68. The stock has a market cap of $29.07 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 2.78 and a beta of 0.42. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.57 and a current ratio of 0.94. DTE Energy Company has a one year low of $115.59 and a one year high of $142.05.

DTE Energy (NYSE:DTE - Get Free Report) last announced its earnings results on Tuesday, July 29th. The utilities provider reported $1.36 EPS for the quarter, missing analysts' consensus estimates of $1.37 by ($0.01). DTE Energy had a net margin of 10.16% and a return on equity of 12.72%. The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.67 billion. On average, analysts forecast that DTE Energy Company will post 7.18 EPS for the current fiscal year.

Analysts Set New Price Targets

DTE has been the subject of several research analyst reports. Morgan Stanley cut their price objective on DTE Energy from $140.00 to $137.00 and set an "overweight" rating for the company in a research report on Thursday, September 25th. Barclays increased 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. BMO Capital Markets boosted their price objective 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. Wall Street Zen upgraded shares of DTE Energy from a "sell" rating to a "hold" rating in a research report on Friday. Finally, Scotiabank reissued a "sector perform" rating and set a $147.00 price target on shares of DTE Energy in a research note on Friday. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $144.00.

Insider Buying and Selling at DTE Energy

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $140.53, for a total transaction of $224,848.00. Following the transaction, the vice president 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 document filed with the SEC, which is available through this link. 0.33% of the stock is currently owned by corporate 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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