USA Financial Formulas Purchases New Holdings in DTE Energy Company $DTE

Key Points

• USA Financial Formulas has acquired a new stake in DTE Energy, purchasing 6,888 shares valued at approximately $912,000 during the second quarter, according to a recent 13F filing.
• Institutional investors currently own 76.06% of DTE Energy's stock, indicating significant interest from large financial entities in the utilities provider.
• DTE Energy's shares have recently seen a 0.9% decline, and the company reported a missed EPS estimate of $1.36 for the quarter, falling short of the consensus estimate of $1.37.

USA Financial Formulas purchased a new stake in shares of DTE Energy Company (NYSE:DTE - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,888 shares of the utilities provider's stock, valued at approximately $912,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DTE. Fifth Third Wealth Advisors LLC increased its stake in DTE Energy by 12.6% during the first quarter. Fifth Third Wealth Advisors LLC now owns 2,449 shares of the utilities provider's stock valued at $339,000 after acquiring an additional 275 shares during the period. Rhumbline Advisers grew its stake in shares of DTE Energy by 11.9% in the 1st quarter. Rhumbline Advisers now owns 376,235 shares of the utilities provider's stock valued at $52,022,000 after purchasing an additional 40,100 shares during the period. NBC Securities Inc. bought a new stake in shares of DTE Energy in the 1st quarter valued at approximately $122,000. Merit Financial Group LLC grew its stake in shares of DTE Energy by 28.9% in the 1st quarter. Merit Financial Group LLC now owns 6,629 shares of the utilities provider's stock valued at $917,000 after purchasing an additional 1,486 shares during the period. Finally, Hennion & Walsh Asset Management Inc. grew its stake in shares of DTE Energy by 15.7% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 15,537 shares of the utilities provider's stock valued at $2,148,000 after purchasing an additional 2,113 shares during the period. 76.06% of the stock is currently owned by institutional investors.

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 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 approximately $583,621.09. This represents a 27.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company's stock.

DTE Energy Stock Down 0.9%

Shares of DTE opened at $140.20 on Thursday. The company has a market capitalization of $29.10 billion, a P/E ratio of 20.17, a PEG ratio of 2.81 and a beta of 0.42. 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 business's 50 day simple moving average is $138.01 and its 200-day simple moving average is $135.64.

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 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 during the quarter, compared to analyst estimates of $2.67 billion. As a group, sell-side analysts predict that DTE Energy Company will post 7.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on DTE shares. Barclays upped their price objective on DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. BMO Capital Markets upped their price objective on DTE Energy from $140.00 to $144.00 and gave the company a "market perform" rating in a research note on Monday, August 25th. JPMorgan Chase & Co. upped their price objective on DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Morgan Stanley lowered their price objective on DTE Energy from $140.00 to $137.00 and set an "overweight" rating on the stock in a research note on Thursday, September 25th. Finally, Wall Street Zen lowered DTE Energy from a "hold" rating to a "sell" rating in a research note on Sunday, September 14th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $144.00.

DTE Energy Company 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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