Park Avenue Securities LLC lessened its position in shares of DTE Energy Company (NYSE:DTE – Free Report) by 34.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,748 shares of the utilities provider’s stock after selling 10,775 shares during the period. Park Avenue Securities LLC’s holdings in DTE Energy were worth $2,527,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. First Bancorp Inc ME bought a new position in DTE Energy in the 2nd quarter valued at $29,000. Community Bank N.A. purchased a new position in shares of DTE Energy during the 2nd quarter valued at $31,000. Elevation Wealth Partners LLC grew its position in shares of DTE Energy by 682.4% during the 3rd quarter. Elevation Wealth Partners LLC now owns 266 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 232 shares in the last quarter. N.E.W. Advisory Services LLC bought a new position in shares of DTE Energy in the second quarter worth $35,000. Finally, Optiver Holding B.V. bought a new position in shares of DTE Energy in the first quarter worth $36,000. Institutional investors own 76.06% of the company’s stock.
DTE Energy Price Performance
Shares of NYSE:DTE opened at $135.49 on Friday. The company’s fifty day moving average price is $130.23 and its 200-day moving average price is $140.82. The firm has a market capitalization of $28.19 billion, a price-to-earnings ratio of 21.44, a PEG ratio of 2.76 and a beta of 0.36. DTE Energy Company has a one year low of $119.68 and a one year high of $155.74. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.53.
DTE Energy (NYSE:DTE – Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.18. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. The company had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $3.36 billion. During the same period in the previous year, the firm posted $1.36 EPS. On average, equities research analysts anticipate that DTE Energy Company will post 7.70 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on the company. Weiss Ratings lowered DTE Energy from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, September 25th. Truist Financial set a $139.00 target price on DTE Energy in a research report on Friday, October 16th. Morgan Stanley decreased their target price on DTE Energy from $141.00 to $139.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 21st. Jefferies Financial Group set a $152.00 price target on DTE Energy in a report on Friday, October 23rd. Finally, Mizuho dropped their price target on DTE Energy from $152.00 to $136.00 and set an “outperform” rating for the company in a research report on Monday, September 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $149.31.
Check Out Our Latest Stock Report on DTE
Key DTE Energy News
Here are the key news stories impacting DTE Energy this week:
- Positive Sentiment: Renewable capacity expansion: DTE began commercial operations at the 132-megawatt Fish Creek Solar Park near Sheridan, Michigan. The project expands DTE’s renewable-generation portfolio and was funded through a utility customer program, potentially supporting the company’s clean-energy targets without placing the entire investment burden on shareholders. DTE Energy starts commercial operations at 132MW Fish Creek Solar Park in Michigan
- Positive Sentiment: Grid modernization and battery storage: DTE and sonnen launched Michigan’s first residential battery virtual power plant pilot. The program will aggregate home batteries to help manage peak demand and explore ways to reduce energy costs, potentially improving grid flexibility and creating longer-term opportunities in distributed energy services. DTE Energy and sonnen launch Michigan’s first residential battery virtual power plant pilot
- Neutral Sentiment: Community and sustainability initiative: The DTE Energy Foundation, Michigan’s Department of Natural Resources and ReLeaf Michigan awarded grants to 27 communities to expand tree coverage. The initiative supports DTE’s environmental profile but is unlikely to materially affect near-term earnings. DNR, DTE Energy Foundation, ReLeaf Michigan Award Grant Funding
- Negative Sentiment: Pre-earnings uncertainty: Zacks expects DTE to report a year-over-year earnings decline and says the company lacks the combination of factors associated with a likely earnings beat. Investors may therefore focus on operating results, guidance and the impact of utility costs when DTE reports. Analysts Estimate DTE Energy to Report a Decline in Earnings
Insider Buying and Selling
In other DTE Energy news, Vice Chairman Trevor Lauer sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $135.71, for a total transaction of $678,550.00. Following the sale, the insider owned 73,122 shares in the company, valued at $9,923,386.62. This trade represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.60% of the stock is currently owned by corporate insiders.
DTE Energy Company Profile
DTE Energy Co is a Detroit-based energy holding company that operates through regulated utility businesses and other energy-related activities. Its principal subsidiaries are DTE Electric and DTE Gas, which provide electricity and natural gas to residential, commercial and industrial customers across southeastern Michigan.
DTE Electric generates, transmits and distributes electricity, while DTE Gas transports and distributes natural gas through an extensive pipeline network. The company is also involved in renewable energy, energy services, natural gas storage and pipeline operations, and other nonutility activities designed to support the broader energy system.
DTE Energy traces its roots to the Detroit Edison Company, which was established in 1903 to serve the Detroit area.
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