3,843 Shares in DTE Energy (NYSE:DTE) Purchased by Seven Eight Capital LP

Seven Eight Capital LP purchased a new stake in DTE Energy (NYSE:DTE) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 3,843 shares of the utilities provider’s stock, valued at approximately $427,000.

Other hedge funds have also recently bought and sold shares of the company. Janus Henderson Group PLC lifted its holdings in DTE Energy by 6,964.9% during the 1st quarter. Janus Henderson Group PLC now owns 2,090,350 shares of the utilities provider’s stock worth $234,410,000 after purchasing an additional 2,060,762 shares during the last quarter. Clearbridge Investments LLC boosted its position in shares of DTE Energy by 224.7% in the first quarter. Clearbridge Investments LLC now owns 2,538,106 shares of the utilities provider’s stock valued at $284,623,000 after acquiring an additional 1,756,459 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of DTE Energy in the fourth quarter valued at about $74,478,000. Capital Research Global Investors increased its position in DTE Energy by 1.9% during the fourth quarter. Capital Research Global Investors now owns 20,933,030 shares of the utilities provider’s stock worth $2,308,076,000 after acquiring an additional 399,646 shares during the period. Finally, Balyasny Asset Management L.P. raised its stake in DTE Energy by 109.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 555,072 shares of the utilities provider’s stock worth $61,202,000 after purchasing an additional 289,663 shares in the last quarter. 76.06% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Trading Up 1.3 %

DTE opened at $125.09 on Monday. The company’s 50 day moving average is $121.82 and its 200-day moving average is $115.04. The company has a market cap 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 has a 1-year low of $90.14 and a 1-year high of $127.59. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73.

DTE Energy (NYSE:DTE) last posted its 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. 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 analysts’ expectations of $2.65 billion. During the same quarter in the previous year, the firm posted $0.99 earnings per share. Equities research analysts predict that DTE Energy will post 6.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

DTE has been the topic of a number of analyst reports. Scotiabank increased their target price on shares of DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, August 11th. Bank of America upped their target price on DTE Energy from $131.00 to $136.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Morgan Stanley increased their target price on DTE Energy from $114.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Finally, LADENBURG THALM/SH SH initiated coverage on DTE Energy in a research note on Wednesday, August 14th. They issued a “buy” rating and a $131.00 price target for the company. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.