Allspring Global Investments Holdings LLC Lowers Holdings in DTE Energy (NYSE:DTE)

Allspring Global Investments Holdings LLC reduced its position in shares of DTE Energy (NYSE:DTE) by 0.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 156,121 shares of the utilities provider’s stock after selling 849 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.08% of DTE Energy worth $20,047,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Research Global Investors lifted its position in shares of DTE Energy by 1.2% in the 1st quarter. Capital Research Global Investors now owns 21,194,653 shares of the utilities provider’s stock worth $2,376,768,000 after purchasing an additional 261,623 shares during the period. Ameriprise Financial Inc. lifted its holdings in DTE Energy by 1.6% during the second quarter. Ameriprise Financial Inc. now owns 5,557,309 shares of the utilities provider’s stock worth $616,938,000 after buying an additional 86,205 shares during the period. Clearbridge Investments LLC boosted its position in DTE Energy by 224.7% during the 1st 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 in the last quarter. Janus Henderson Group PLC increased its holdings in shares of DTE Energy by 6,964.9% in the 1st quarter. Janus Henderson Group PLC now owns 2,090,350 shares of the utilities provider’s stock valued at $234,410,000 after acquiring an additional 2,060,762 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in shares of DTE Energy by 3.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,667,111 shares of the utilities provider’s stock worth $185,066,000 after acquiring an additional 59,811 shares in the last quarter. 76.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on DTE shares. 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 research report on Friday, July 26th. KeyCorp lifted their price objective on shares of DTE Energy from $136.00 to $138.00 and gave the stock an “overweight” rating in a research report on Tuesday. Morgan Stanley increased their target price on shares of DTE Energy from $121.00 to $128.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Mizuho upped their price target on DTE Energy from $121.00 to $133.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Finally, Bank of America increased their price objective on DTE Energy from $131.00 to $136.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, DTE Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.54.

DTE Energy Stock Performance

Shares of NYSE DTE opened at $129.74 on Friday. The company has a 50 day simple moving average of $125.52 and a two-hundred day simple moving average of $117.67. The stock has a market cap of $26.85 billion, a price-to-earnings ratio of 21.23, a PEG ratio of 2.29 and a beta of 0.67. 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 has a 12 month low of $92.58 and a 12 month high of $131.66.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.21 by $0.22. The company 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 prior year, the company earned $0.99 earnings per share. As a group, analysts predict that DTE Energy will post 6.7 earnings per share for the current year.

DTE Energy 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.