Park Avenue Securities LLC Sells 302 Shares of DTE Energy Company $DTE

Park Avenue Securities LLC decreased its position in shares of DTE Energy Company (NYSE:DTE) by 3.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 9,626 shares of the utilities provider’s stock after selling 302 shares during the period. Park Avenue Securities LLC’s holdings in DTE Energy were worth $1,275,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cloud Capital Management LLC purchased a new stake in DTE Energy in the first quarter worth $25,000. Quintet Private Bank Europe S.A. purchased a new position in DTE Energy during the second quarter valued at $25,000. Olde Wealth Management LLC bought a new stake in shares of DTE Energy during the 1st quarter valued at $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of DTE Energy in the 1st quarter worth about $28,000. Finally, SouthState Corp bought a new position in shares of DTE Energy in the 1st quarter worth about $29,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Price Performance

NYSE DTE opened at $137.64 on Friday. DTE Energy Company has a one year low of $115.59 and a one year high of $142.05. The stock has a 50-day moving average of $137.83 and a 200 day moving average of $135.43. 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 company has a market capitalization of $28.57 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 2.76 and a beta of 0.42.

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

Insider Buying and Selling

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of the business’s stock in a transaction on 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. The trade was a 27.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

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