XTX Topco Ltd Makes New $855,000 Investment in DTE Energy (NYSE:DTE)

XTX Topco Ltd purchased a new position in DTE Energy (NYSE:DTE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 7,698 shares of the utilities provider’s stock, valued at approximately $855,000.

Several other hedge funds and other institutional investors have also modified their holdings of DTE. Principal Securities Inc. bought a new position in DTE Energy in the fourth quarter worth about $54,000. Envestnet Portfolio Solutions Inc. raised its position in shares of DTE Energy by 5.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,003 shares of the utilities provider’s stock worth $331,000 after purchasing an additional 157 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of DTE Energy in the 4th quarter worth approximately $399,000. PNC Financial Services Group Inc. boosted its position in DTE Energy by 15.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 50,084 shares of the utilities provider’s stock valued at $5,522,000 after purchasing an additional 6,797 shares during the period. Finally, UBS Group AG increased its position in DTE Energy by 108.3% in the fourth quarter. UBS Group AG now owns 275,295 shares of the utilities provider’s stock worth $30,354,000 after buying an additional 143,112 shares during the period. 76.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on DTE Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Morgan Stanley raised their price target on DTE Energy from $114.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. LADENBURG THALM/SH SH began coverage on shares of DTE Energy in a report on Wednesday, August 14th. They issued a “buy” rating and a $131.00 price objective for the company. BMO Capital Markets raised their target price on shares of DTE Energy from $126.00 to $135.00 and gave the company a “market perform” rating in a research note on Friday, September 6th. Finally, Scotiabank upped their price target 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 research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, DTE Energy has an average rating of “Moderate Buy” and a consensus price target of $127.58.

DTE Energy Stock Performance

Shares of DTE opened at $125.09 on Friday. DTE Energy has a 12-month low of $90.14 and a 12-month high of $127.59. The stock has a market capitalization of $25.89 billion, a P/E ratio of 20.47, a P/E/G ratio of 2.28 and a beta of 0.67. The firm’s 50 day moving average is $121.82 and its 200-day moving average is $115.01. 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 (NYSE:DTE) last posted its quarterly earnings results 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. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same quarter in the previous year, the business posted $0.99 earnings per share. Equities research analysts anticipate that DTE Energy will post 6.7 EPS for the current fiscal 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.