DTE Energy Company $DTE Stock Holdings Reduced by Park Avenue Securities LLC

Park Avenue Securities LLC cut its holdings in shares of DTE Energy Company (NYSE:DTE) by 34.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 20,748 shares of the utilities provider’s stock after selling 10,775 shares during the quarter. Park Avenue Securities LLC’s holdings in DTE Energy were worth $2,527,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. First Bancorp Inc ME purchased a new stake in shares of DTE Energy in the 2nd quarter valued at $29,000. Community Bank N.A. bought a new position in shares of DTE Energy during the 2nd quarter valued at $31,000. Elevation Wealth Partners LLC raised its position in DTE Energy by 682.4% in the 3rd quarter. Elevation Wealth Partners LLC now owns 266 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 232 shares during the period. N.E.W. Advisory Services LLC purchased a new position in DTE Energy in the 2nd quarter worth $35,000. Finally, Optiver Holding B.V. purchased a new position in DTE Energy in the 1st quarter worth $36,000. 76.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. BMO Capital Markets boosted their price target on shares of DTE Energy from $134.00 to $139.00 and gave the stock a “market perform” rating in a research note on Friday, October 16th. Weiss Ratings cut DTE Energy from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, September 25th. Mizuho decreased their price objective on DTE Energy from $152.00 to $136.00 and set an “outperform” rating on the stock in a report on Monday, September 28th. HSBC assumed coverage on DTE Energy in a research note on Thursday, October 22nd. They issued a “hold” rating and a $135.00 target price for the company. Finally, Wall Street Zen lowered DTE Energy from a “hold” rating to a “sell” rating in a research note on Monday, October 19th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $149.31.

Key Headlines Impacting DTE Energy

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

DTE Energy Stock Performance

NYSE:DTE opened at $135.49 on Friday. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.53 and a current ratio of 0.80. DTE Energy Company has a fifty-two week low of $119.68 and a fifty-two week high of $155.74. The firm has a market cap of $28.19 billion, a PE ratio of 21.44, a price-to-earnings-growth ratio of 2.76 and a beta of 0.36. The business has a 50 day moving average price of $130.23 and a 200-day moving average price of $140.82.

DTE Energy (NYSE:DTE) last issued its earnings results on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $3.36 billion. During the same period in the previous year, the firm earned $1.36 earnings per share. Equities research analysts predict that DTE Energy Company will post 7.70 earnings per share for the current year.

Insiders Place Their Bets

In other DTE Energy news, Vice Chairman Trevor Lauer sold 5,000 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $135.71, for a total transaction of $678,550.00. Following the completion of the sale, the insider owned 73,122 shares of the company’s stock, valued at $9,923,386.62. This represents a 6.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.60% of the stock is owned by 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.