Apollon Wealth Management LLC Grows Stake in DTE Energy Company $DTE

Apollon Wealth Management LLC grew its position in shares of DTE Energy Company (NYSE:DTE) by 11.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,682 shares of the utilities provider’s stock after purchasing an additional 267 shares during the period. Apollon Wealth Management LLC’s holdings in DTE Energy were worth $355,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Northern Trust Corp raised its holdings in shares of DTE Energy by 0.5% in the 1st quarter. Northern Trust Corp now owns 1,836,832 shares of the utilities provider’s stock valued at $253,979,000 after acquiring an additional 9,664 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of DTE Energy by 65.3% in the first 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. increased its position in shares of DTE Energy by 57.4% in the first 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. grew its stake 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 buying an additional 9,443 shares in the last quarter. Finally, Royal Bank of Canada grew its stake 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 buying an additional 13,884 shares in the last quarter. Institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Performance

Shares of DTE stock opened at $141.99 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. DTE Energy Company has a fifty-two week low of $115.59 and a fifty-two week high of $143.79. The stock has a 50 day moving average price of $138.55 and a two-hundred day moving average price of $136.03. The company has a market capitalization of $29.48 billion, a P/E ratio of 20.43, a PEG ratio of 3.03 and a beta of 0.42.

DTE Energy (NYSE:DTE) last issued 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 firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Analysts expect that DTE Energy Company will post 7.18 earnings per share for the current year.

Insider Buying and Selling at DTE Energy

In other news, VP Lisa A. Muschong sold 1,600 shares of the 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 approximately $583,621.09. This represents a 27.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Scotiabank reaffirmed a “sector perform” rating and set a $147.00 price objective on shares of DTE Energy in a report on Friday, October 3rd. Barclays raised their price target on DTE Energy from $138.00 to $148.00 and gave the company an “equal weight” rating in a research report on Tuesday. 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. JPMorgan Chase & Co. increased their price objective on DTE Energy from $145.00 to $147.00 and gave the company a “neutral” rating in a research report on Tuesday, July 15th. Finally, Morgan Stanley reduced their price objective on DTE Energy from $140.00 to $137.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $146.08.

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.