DTE Energy (NYSE:DTE) Shares Purchased by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. raised its stake in DTE Energy (NYSE:DTE) by 935.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,092 shares of the utilities provider’s stock after acquiring an additional 1,890 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in DTE Energy were worth $232,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. ESL Trust Services LLC acquired a new stake in DTE Energy during the first quarter worth approximately $27,000. Rise Advisors LLC boosted its holdings in shares of DTE Energy by 89.6% during the first quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 129 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in shares of DTE Energy in the second quarter valued at $31,000. Denali Advisors LLC acquired a new position in DTE Energy in the first quarter valued at $34,000. Finally, Salomon & Ludwin LLC lifted its position in DTE Energy by 82.3% during the first quarter. Salomon & Ludwin LLC now owns 432 shares of the utilities provider’s stock worth $48,000 after buying an additional 195 shares during the period. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on DTE shares. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, August 11th. LADENBURG THALM/SH SH started coverage on shares of DTE Energy in a research report on Wednesday, August 14th. They set a “buy” rating and a $131.00 price target for the company. Mizuho lifted their price target on shares of DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Wells Fargo & Company boosted their price objective on shares of DTE Energy from $125.00 to $133.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, Morgan Stanley increased their target price on DTE Energy from $114.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $127.58.

DTE Energy Stock Down 1.0 %

NYSE DTE opened at $124.42 on Thursday. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 1.73. DTE Energy has a fifty-two week low of $90.14 and a fifty-two week high of $127.59. The business has a 50 day moving average price of $121.40 and a two-hundred day moving average price of $114.81. The stock has a market cap of $25.75 billion, a PE ratio of 20.36, a P/E/G ratio of 2.28 and a beta of 0.67.

DTE Energy (NYSE:DTE) last announced its earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.22. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. The business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the prior year, the firm earned $0.99 earnings per share. As a group, sell-side analysts predict that DTE Energy will post 6.7 EPS for the current fiscal year.

DTE Energy 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.