AE Wealth Management LLC Boosts Holdings in DTE Energy (NYSE:DTE)

AE Wealth Management LLC raised its holdings in DTE Energy (NYSE:DTE) by 0.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 102,305 shares of the utilities provider’s stock after purchasing an additional 225 shares during the period. AE Wealth Management LLC’s holdings in DTE Energy were worth $11,357,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. ESL Trust Services LLC purchased a new stake in DTE Energy in the 1st quarter valued at approximately $27,000. Rise Advisors LLC lifted its position in shares of DTE Energy by 89.6% in the first quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 129 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in shares of DTE Energy during the second quarter valued at $31,000. Denali Advisors LLC purchased a new stake in DTE Energy during the 1st quarter worth about $34,000. Finally, Salomon & Ludwin LLC raised its stake in DTE Energy by 82.3% in the 1st quarter. Salomon & Ludwin LLC now owns 432 shares of the utilities provider’s stock valued at $48,000 after purchasing an additional 195 shares during the last quarter. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Bank of America raised their price target on shares of DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. 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 target price on the stock. Wells Fargo & Company boosted their price target on DTE Energy from $125.00 to $133.00 and gave the company an “overweight” rating in a report on Friday, July 26th. BMO Capital Markets raised their price objective on DTE Energy from $126.00 to $135.00 and gave the stock a “market perform” rating in a report on Friday, September 6th. Finally, Morgan Stanley upped their target price on DTE Energy from $114.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $127.58.

DTE Energy Stock Up 1.3 %

Shares of NYSE:DTE opened at $125.09 on Friday. DTE Energy has a 1 year low of $90.14 and a 1 year high of $127.59. The stock has a 50-day simple moving average of $121.82 and a 200-day simple moving average of $114.98. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.69. The stock has a market capitalization of $25.89 billion, a P/E ratio of 20.47, a PEG ratio of 2.28 and a beta of 0.67.

DTE Energy (NYSE:DTE) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.22. The company had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.65 billion. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. During the same quarter in the prior year, the business earned $0.99 earnings per share. Equities analysts forecast that DTE Energy will post 6.7 earnings per share for the current year.

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.