Robeco Institutional Asset Management B.V. Buys 14,392 Shares of DTE Energy Company $DTE

Key Points

• Robeco Institutional Asset Management B.V. increased its stake in DTE Energy by 6.8% in Q2 2023, owning 225,120 shares worth approximately $29.8 million after acquiring an additional 14,392 shares.
• Several hedge funds, including Goldman Sachs and JPMorgan Chase, have significantly raised their positions in DTE Energy, indicating increased institutional interest in the company.
• DTE Energy reported a miss on EPS estimates for the last quarter, with $1.36 EPS against a consensus of $1.37, while revenue was above expectations at $2.91 billion.

Robeco Institutional Asset Management B.V. lifted its stake in DTE Energy Company (NYSE:DTE - Free Report) by 6.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 225,120 shares of the utilities provider's stock after buying an additional 14,392 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.11% of DTE Energy worth $29,819,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Northern Trust Corp raised its position in DTE Energy by 0.5% in the 1st quarter. Northern Trust Corp now owns 1,836,832 shares of the utilities provider's stock worth $253,979,000 after purchasing an additional 9,664 shares during the last quarter. Goldman Sachs Group Inc. raised its position in 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 worth $223,019,000 after purchasing an additional 637,378 shares during the last quarter. JPMorgan Chase & Co. raised its position in DTE Energy by 57.4% in the 1st quarter. JPMorgan Chase & Co. now owns 1,405,516 shares of the utilities provider's stock worth $194,341,000 after purchasing an additional 512,567 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in DTE Energy by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,316,107 shares of the utilities provider's stock worth $181,978,000 after purchasing an additional 9,443 shares during the last quarter. Finally, Royal Bank of Canada raised its position in DTE Energy by 1.2% in the 1st quarter. Royal Bank of Canada now owns 1,173,220 shares of the utilities provider's stock worth $162,221,000 after purchasing an additional 13,884 shares during the last quarter. Institutional investors own 76.06% of the company's stock.

DTE Energy Trading Up 0.5%

Shares of NYSE:DTE opened at $140.02 on Friday. The company's 50-day moving average price is $138.02 and its two-hundred day moving average price is $135.69. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.94 and a quick ratio of 0.57. DTE Energy Company has a one year low of $115.59 and a one year high of $142.05. The stock has a market capitalization of $29.07 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 2.77 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. On average, equities 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 a number of analyst reports. Barclays lifted 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. Scotiabank reaffirmed a "sector perform" rating and set a $147.00 target price on shares of DTE Energy in a report on Friday. Morgan Stanley lowered their target price on shares of DTE Energy from $140.00 to $137.00 and set an "overweight" rating for the company in a report on Thursday, September 25th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of DTE Energy in a report on Saturday, September 27th. Finally, BMO Capital Markets lifted 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. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, DTE Energy currently has a consensus rating of "Moderate Buy" and an average target price of $144.00.

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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