Clearbridge Investments LLC Lowers Stake in DTE Energy (NYSE:DTE)

Clearbridge Investments LLC lessened its stake in DTE Energy (NYSE:DTE) by 10.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,273,883 shares of the utilities provider’s stock after selling 264,223 shares during the period. Clearbridge Investments LLC owned 1.10% of DTE Energy worth $252,423,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DTE. Aptus Capital Advisors LLC lifted its holdings in shares of DTE Energy by 3.7% in the 2nd quarter. Aptus Capital Advisors LLC now owns 2,632 shares of the utilities provider’s stock worth $292,000 after buying an additional 94 shares during the period. ASB Consultores LLC grew its holdings in DTE Energy by 4.9% during the 2nd quarter. ASB Consultores LLC now owns 2,179 shares of the utilities provider’s stock worth $242,000 after acquiring an additional 101 shares in the last quarter. TIAA Trust National Association grew its holdings in DTE Energy by 2.9% during the 1st quarter. TIAA Trust National Association now owns 3,771 shares of the utilities provider’s stock worth $423,000 after acquiring an additional 106 shares in the last quarter. S.A. Mason LLC raised its holdings in shares of DTE Energy by 10.5% in the 2nd quarter. S.A. Mason LLC now owns 1,120 shares of the utilities provider’s stock valued at $124,000 after purchasing an additional 106 shares in the last quarter. Finally, Texas Permanent School Fund Corp lifted its position in shares of DTE Energy by 0.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 41,908 shares of the utilities provider’s stock worth $4,700,000 after purchasing an additional 107 shares during the period. Institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Up 0.2 %

DTE stock opened at $128.70 on Wednesday. The stock has a market capitalization of $26.63 billion, a PE ratio of 21.06, a price-to-earnings-growth ratio of 2.32 and a beta of 0.67. DTE Energy has a 52 week low of $90.14 and a 52 week high of $129.53. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 1.73. The firm has a 50 day moving average of $123.34 and a 200 day moving average of $115.80.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.22. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.65 billion. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. During the same period in the previous year, the company earned $0.99 earnings per share. Sell-side analysts forecast that DTE Energy will post 6.7 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on DTE shares. KeyCorp lifted their price objective on shares of DTE Energy from $130.00 to $136.00 and gave the company an “overweight” rating in a report on Monday. Bank of America lifted their price target on DTE Energy from $131.00 to $136.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Scotiabank upped their price objective on DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. BMO Capital Markets lifted their target price on 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, Morgan Stanley boosted their target price on shares of DTE Energy from $121.00 to $128.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $128.67.

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.