Richardson Financial Services Inc. Sells 145 Shares of DTE Energy (NYSE:DTE)

Richardson Financial Services Inc. decreased its position in shares of DTE Energy (NYSE:DTE) by 8.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,635 shares of the utilities provider’s stock after selling 145 shares during the quarter. Richardson Financial Services Inc.’s holdings in DTE Energy were worth $182,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Seven Eight Capital LP bought a new stake in shares of DTE Energy in the 2nd quarter worth $427,000. Beck Bode LLC bought a new stake in DTE Energy in the 2nd quarter worth about $13,355,000. Vanguard Personalized Indexing Management LLC raised its position in DTE Energy by 15.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 18,338 shares of the utilities provider’s stock worth $1,999,000 after buying an additional 2,452 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in DTE Energy by 8.2% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,475 shares of the utilities provider’s stock valued at $941,000 after acquiring an additional 639 shares during the period. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in shares of DTE Energy by 1.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 35,468 shares of the utilities provider’s stock valued at $3,937,000 after acquiring an additional 590 shares during the last quarter. Institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Performance

DTE opened at $123.53 on Friday. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.69 and a quick ratio of 0.52. DTE Energy has a 1-year low of $90.14 and a 1-year high of $127.59. The company has a 50 day simple moving average of $121.60 and a two-hundred day simple moving average of $114.87. The firm has a market cap of $25.56 billion, a P/E ratio of 20.22, a PEG ratio of 2.28 and a beta of 0.67.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.22. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. The business had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same period last year, the firm earned $0.99 earnings per share. Equities analysts forecast that DTE Energy will post 6.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DTE has been the topic of a number of research analyst reports. Bank of America increased their price objective on shares of DTE Energy from $131.00 to $136.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Mizuho raised their price target on DTE Energy from $121.00 to $133.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Morgan Stanley upped their price objective on DTE Energy from $114.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Barclays raised their target price on DTE Energy from $123.00 to $128.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Scotiabank increased their price objective on shares of DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $127.58.

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.