Mutual of America Capital Management LLC Sells 973 Shares of DTE Energy (NYSE:DTE)

Mutual of America Capital Management LLC lowered its stake in DTE Energy (NYSE:DTE) by 2.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 32,079 shares of the utilities provider’s stock after selling 973 shares during the quarter. Mutual of America Capital Management LLC’s holdings in DTE Energy were worth $3,561,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ESL Trust Services LLC bought a new stake in DTE Energy in the 1st quarter valued at $27,000. Rise Advisors LLC boosted its position 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 buying an additional 129 shares during the period. Ridgewood Investments LLC bought a new position in shares of DTE Energy during the second quarter worth about $31,000. Denali Advisors LLC acquired a new stake in DTE Energy in the 1st quarter valued at approximately $34,000. Finally, Salomon & Ludwin LLC raised its position 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 buying an additional 195 shares during the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in 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. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, August 11th. 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 raised their price objective on DTE Energy from $125.00 to $133.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, LADENBURG THALM/SH SH started coverage on DTE Energy in a report on Wednesday, August 14th. They set a “buy” rating and a $131.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, DTE Energy has a consensus rating of “Moderate Buy” and an average price target of $127.58.

DTE Energy Price Performance

NYSE:DTE opened at $125.09 on Monday. DTE Energy has a 12-month low of $90.14 and a 12-month high of $127.59. The firm has a market capitalization of $25.89 billion, a price-to-earnings ratio of 20.47, a P/E/G ratio of 2.28 and a beta of 0.67. The stock’s 50 day moving average price is $121.82 and its two-hundred day moving average price is $115.04. 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 (NYSE:DTE) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter last year, the firm posted $0.99 EPS. On average, analysts anticipate that DTE Energy will post 6.7 earnings per share for the current year.

About DTE Energy

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.