Renaissance Technologies LLC Sells 120,900 Shares of DTE Energy (NYSE:DTE)

Renaissance Technologies LLC reduced its position in shares of DTE Energy (NYSE:DTE) by 52.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 108,500 shares of the utilities provider’s stock after selling 120,900 shares during the quarter. Renaissance Technologies LLC owned about 0.05% of DTE Energy worth $12,045,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. ESL Trust Services LLC bought a new stake in shares of DTE Energy during the first quarter worth approximately $27,000. Rise Advisors LLC grew its holdings in DTE Energy by 89.6% during the 1st quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 129 shares during the period. Ridgewood Investments LLC bought a new stake in shares of DTE Energy during the 2nd quarter valued at $31,000. Denali Advisors LLC bought a new stake in shares of DTE Energy during the 1st quarter valued at $34,000. Finally, Salomon & Ludwin LLC lifted its stake in shares of 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 period. 76.06% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Price Performance

DTE stock opened at $125.09 on Monday. The stock has a market cap of $25.89 billion, a PE ratio of 20.47, a price-to-earnings-growth ratio of 2.28 and a beta of 0.67. The stock has a 50-day moving average price of $121.82 and a two-hundred day moving average price of $115.04. 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 quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.43 earnings per share (EPS) 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 the consensus estimate 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 last year, the company earned $0.99 earnings per share. Equities analysts forecast that DTE Energy will post 6.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

DTE has been the subject of a number of recent analyst reports. Morgan Stanley upped their price objective on DTE Energy from $114.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Bank of America upped their price target on DTE Energy from $131.00 to $136.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. LADENBURG THALM/SH SH initiated coverage on shares of DTE Energy in a research note on Wednesday, August 14th. They set a “buy” rating and a $131.00 price objective on the stock. Wells Fargo & Company increased their target price on shares of DTE Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, KeyCorp boosted their price target on shares of DTE Energy from $126.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $127.58.

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.