Wealthcare Advisory Partners LLC Buys 2,370 Shares of DTE Energy Company $DTE

Key Points

• Wealthcare Advisory Partners LLC significantly increased its investment in DTE Energy, acquiring an additional 2,370 shares and raising its stake by 93.8%, bringing the total value of its holdings to approximately $649,000.
• Recent analyst ratings reflect mixed sentiment, with Morgan Stanley lowering its target price to $137, while JPMorgan increased it to $147; the stock maintains a consensus rating of "Moderate Buy".
• DTE Energy reported $1.36 earnings per share, just missing expectations, yet demonstrated significant revenue of $2.91 billion in the last quarter, surpassing analyst forecasts.

Wealthcare Advisory Partners LLC boosted its stake in DTE Energy Company (NYSE:DTE - Free Report) by 93.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,898 shares of the utilities provider's stock after acquiring an additional 2,370 shares during the period. Wealthcare Advisory Partners LLC's holdings in DTE Energy were worth $649,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. 111 Capital bought a new stake in DTE Energy in the second quarter valued at $505,000. Hennessy Advisors Inc. boosted its holdings in DTE Energy by 1.0% in the second quarter. Hennessy Advisors Inc. now owns 51,304 shares of the utilities provider's stock valued at $6,796,000 after acquiring an additional 500 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in DTE Energy by 33.7% in the second quarter. QRG Capital Management Inc. now owns 46,651 shares of the utilities provider's stock valued at $6,179,000 after acquiring an additional 11,754 shares in the last quarter. Segment Wealth Management LLC bought a new stake in shares of DTE Energy during the 2nd quarter valued at $205,000. Finally, Ascent Group LLC boosted its holdings in shares of DTE Energy by 0.8% during the 2nd quarter. Ascent Group LLC now owns 13,677 shares of the utilities provider's stock valued at $1,812,000 after buying an additional 103 shares in the last quarter. Institutional investors own 76.06% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DTE. Morgan Stanley dropped their target price on shares of DTE Energy from $140.00 to $137.00 and set an "overweight" rating on the stock in a report on Thursday, September 25th. Wall Street Zen upgraded shares of DTE Energy from a "sell" rating to a "hold" rating in a report on Friday, October 3rd. Barclays boosted their target price 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. JPMorgan Chase & Co. boosted their target price 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. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of DTE Energy in a report on Wednesday. Seven 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.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $144.00.

Insider Transactions at DTE Energy

In related news, VP Lisa A. Muschong sold 1,600 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $140.53, for a total value of $224,848.00. Following the completion of the sale, the vice president directly 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 legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.33% of the company's stock.

DTE Energy Price Performance

NYSE DTE opened at $141.58 on Thursday. DTE Energy Company has a 52 week low of $115.59 and a 52 week high of $143.79. The firm has a market capitalization of $29.39 billion, a P/E ratio of 20.37, a PEG ratio of 2.83 and a beta of 0.42. The company has a quick ratio of 0.57, a current ratio of 0.94 and a debt-to-equity ratio of 1.96. The company has a 50-day moving average price of $138.32 and a 200-day moving average price of $135.80.

DTE Energy (NYSE:DTE - Get Free Report) last released its earnings results on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.01). The firm had revenue of $2.91 billion during 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%. Equities research analysts anticipate that DTE Energy Company will post 7.18 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.