Ascent Group LLC Grows Holdings in DTE Energy Company $DTE

Ascent Group LLC grew its stake in DTE Energy Company (NYSE:DTE) by 0.8% in the second quarter, Holdings Channel.com reports. The institutional investor owned 13,677 shares of the utilities provider’s stock after buying an additional 103 shares during the quarter. Ascent Group LLC’s holdings in DTE Energy were worth $1,812,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cloud Capital Management LLC purchased a new position in DTE Energy in the 1st quarter worth approximately $25,000. Quintet Private Bank Europe S.A. purchased a new position in DTE Energy in the 2nd quarter worth approximately $25,000. Olde Wealth Management LLC purchased a new position in DTE Energy in the 1st quarter worth approximately $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in DTE Energy in the 1st quarter worth approximately $28,000. Finally, SouthState Corp purchased a new stake in shares of DTE Energy in the 1st quarter valued at $29,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Insiders Place Their Bets

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of the 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 owned 4,153 shares of the company’s stock, valued at $583,621.09. This represents a 27.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.33% of the stock is owned by insiders.

DTE Energy Trading Up 0.5%

Shares of DTE opened at $140.02 on Friday. The stock has a market capitalization of $29.07 billion, a P/E ratio of 20.15, a PEG ratio of 2.78 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 firm has a fifty day simple moving average of $138.02 and a two-hundred day simple moving average of $135.69. DTE Energy Company has a twelve month low of $115.59 and a twelve month high of $142.05.

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DTE. Wall Street Zen raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday. Morgan Stanley cut their price objective on shares of DTE Energy from $140.00 to $137.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of DTE Energy in a research note on Saturday, September 27th. Barclays upped their price objective on shares of DTE Energy from $136.00 to $138.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. Finally, BMO Capital Markets upped their price objective on shares of DTE Energy from $140.00 to $144.00 and gave the company a “market perform” rating in a research note on Monday, August 25th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.