TD Asset Management Inc Increases Stake in DTE Energy Company $DTE

Key Points

• TD Asset Management Inc increased its stake in DTE Energy Company by 12.1%, owning 233,917 shares worth $30.98 million as of the latest SEC filing.
• Research analysts have mixed views on DTE Energy, with Wall Street Zen downgrading the stock to a "sell," while UBS Group raised its price target to $158.00, maintaining a "buy" rating.
• DTE Energy's stock opened at $141.44, and the company reported quarterly earnings of $1.36 per share, missing the consensus estimate.

TD Asset Management Inc grew its position in shares of DTE Energy Company (NYSE:DTE - Free Report) by 12.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 233,917 shares of the utilities provider's stock after buying an additional 25,302 shares during the quarter. TD Asset Management Inc owned 0.11% of DTE Energy worth $30,985,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Cloud Capital Management LLC purchased a new position in DTE Energy during the first quarter worth about $25,000. Quintet Private Bank Europe S.A. purchased a new position in DTE Energy in the second quarter worth $25,000. Olde Wealth Management LLC purchased a new position in DTE Energy in the first quarter worth $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in DTE Energy in the first quarter worth $28,000. Finally, SouthState Corp purchased a new position in DTE Energy in the first quarter worth $29,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DTE has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of DTE Energy from a "hold" rating to a "sell" rating in a report on Saturday, October 11th. Scotiabank reaffirmed a "sector perform" rating and issued a $147.00 target price on shares of DTE Energy in a report on Friday, October 3rd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of DTE Energy in a research note on Wednesday, October 8th. Barclays raised their price objective on DTE Energy from $138.00 to $148.00 and gave the company an "equal weight" rating in a research note on Tuesday. Finally, UBS Group raised their price target on DTE Energy from $148.00 to $158.00 and gave the company a "buy" rating in a research report on Friday, October 10th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $146.08.

DTE Energy Stock Performance

DTE Energy stock opened at $141.44 on Friday. 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 stock has a fifty day moving average of $138.52 and a two-hundred day moving average of $136.01. The company has a market capitalization of $29.36 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 3.05 and a beta of 0.42. DTE Energy Company has a fifty-two week low of $115.59 and a fifty-two week high of $143.79.

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

Insider Activity at DTE Energy

In other news, VP Lisa A. Muschong sold 1,600 shares of DTE Energy 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 completion of the sale, the vice president directly owned 4,153 shares in the company, valued at $583,621.09. The trade was a 27.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.33% of the stock is currently owned by company insiders.

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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