Hsbc Holdings PLC Cuts Stock Position in DTE Energy (NYSE:DTE)

Hsbc Holdings PLC decreased its holdings in shares of DTE Energy (NYSE:DTE) by 17.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 262,489 shares of the utilities provider’s stock after selling 54,810 shares during the period. Hsbc Holdings PLC owned about 0.13% of DTE Energy worth $29,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in DTE. Principal Securities Inc. acquired a new stake in shares of DTE Energy in the fourth quarter valued at about $54,000. Envestnet Portfolio Solutions Inc. boosted its holdings in DTE Energy by 5.5% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,003 shares of the utilities provider’s stock worth $331,000 after buying an additional 157 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in DTE Energy during the 4th quarter worth approximately $399,000. PNC Financial Services Group Inc. raised its holdings in shares of DTE Energy by 15.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 50,084 shares of the utilities provider’s stock valued at $5,522,000 after acquiring an additional 6,797 shares during the last quarter. Finally, UBS Group AG lifted its position in shares of DTE Energy by 108.3% in the fourth quarter. UBS Group AG now owns 275,295 shares of the utilities provider’s stock valued at $30,354,000 after acquiring an additional 143,112 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Trading Up 1.3 %

Shares of DTE Energy stock opened at $125.09 on Friday. The stock has a 50 day moving average of $121.82 and a 200 day moving average of $115.01. 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 firm has a market capitalization of $25.89 billion, a price-to-earnings ratio of 20.47, a PEG ratio of 2.28 and a beta of 0.67. DTE Energy has a fifty-two week low of $90.14 and a fifty-two week high of $127.59.

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

Wall Street Analyst Weigh In

Several analysts recently commented on DTE shares. Barclays boosted their price target on DTE Energy from $123.00 to $128.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Mizuho increased their target price on shares of DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Morgan Stanley boosted their price target on shares of DTE Energy from $114.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Wells Fargo & Company increased their price objective on shares of DTE Energy from $125.00 to $133.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, Bank of America boosted their target price on DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, DTE Energy currently has an average rating of “Moderate Buy” and a consensus price target of $127.58.

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.