Triton Wealth Management PLLC Purchases Shares of 1,858 DTE Energy Company $DTE

Triton Wealth Management PLLC purchased a new stake in shares of DTE Energy Company (NYSE:DTE) during the 2nd quarter, HoldingsChannel reports. The fund purchased 1,858 shares of the utilities provider’s stock, valued at approximately $258,000.

Several other institutional investors have also modified their holdings of the company. Harbour Investments Inc. boosted its stake in DTE Energy by 4.1% during the second quarter. Harbour Investments Inc. now owns 4,017 shares of the utilities provider’s stock valued at $532,000 after buying an additional 157 shares in the last quarter. Bayforest Capital Ltd acquired a new stake in DTE Energy in the 2nd quarter valued at about $579,000. Sagespring Wealth Partners LLC boosted its position in shares of DTE Energy by 48.2% during the 2nd quarter. Sagespring Wealth Partners LLC now owns 4,903 shares of the utilities provider’s stock valued at $649,000 after purchasing an additional 1,594 shares in the last quarter. TD Asset Management Inc boosted its position in shares of DTE Energy by 12.1% during the 2nd quarter. TD Asset Management Inc now owns 233,917 shares of the utilities provider’s stock valued at $30,985,000 after purchasing an additional 25,302 shares in the last quarter. Finally, NorthRock Partners LLC grew its stake in shares of DTE Energy by 41.6% in the 2nd quarter. NorthRock Partners LLC now owns 3,681 shares of the utilities provider’s stock worth $491,000 after purchasing an additional 1,082 shares during the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

Insiders Place Their Bets

In other news, VP Lisa A. Muschong sold 1,600 shares of the company’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $140.53, for a total value of $224,848.00. Following the transaction, the vice president owned 4,153 shares in the company, valued at $583,621.09. This represents a 27.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on DTE shares. Scotiabank reissued a “sector perform” rating and set a $147.00 target price on shares of DTE Energy in a research note on Friday, October 3rd. UBS Group increased their price objective on DTE Energy from $148.00 to $158.00 and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. raised their price objective on DTE Energy from $145.00 to $147.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 15th. Wall Street Zen lowered DTE Energy from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of DTE Energy in a report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, DTE Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.08.

DTE Energy Price Performance

Shares of NYSE:DTE opened at $141.81 on Wednesday. The company’s fifty day moving average is $138.42 and its two-hundred day moving average is $135.94. The company has a market cap of $29.44 billion, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. DTE Energy Company has a 12-month low of $115.59 and a 12-month high of $143.79. The company has a quick ratio of 0.57, a current ratio of 0.94 and a debt-to-equity ratio of 1.96.

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). The business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.67 billion. DTE Energy had a return on equity of 12.72% and a net margin of 10.16%. Equities analysts expect that DTE Energy Company will post 7.18 earnings per share for the current fiscal year.

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.