DTE Energy (NYSE:DTE) Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC raised its stake in shares of DTE Energy (NYSE:DTE) by 21.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 15,719 shares of the utilities provider’s stock after purchasing an additional 2,726 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in DTE Energy were worth $2,018,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Calton & Associates Inc. acquired a new stake in shares of DTE Energy during the 3rd quarter worth $215,000. Roof Eidam Maycock Peralta LLC purchased a new stake in DTE Energy during the third quarter valued at about $229,000. Retirement Guys Formula LLC increased its stake in DTE Energy by 4.5% during the third quarter. Retirement Guys Formula LLC now owns 8,798 shares of the utilities provider’s stock worth $1,130,000 after acquiring an additional 376 shares during the last quarter. Cyndeo Wealth Partners LLC raised its holdings in shares of DTE Energy by 1.0% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 51,968 shares of the utilities provider’s stock worth $6,673,000 after purchasing an additional 523 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of DTE Energy by 52.5% in the 3rd quarter. Blue Trust Inc. now owns 3,042 shares of the utilities provider’s stock valued at $391,000 after purchasing an additional 1,047 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on DTE. Mizuho increased their target price on shares of DTE Energy from $121.00 to $133.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Bank of America raised their target price on shares of DTE Energy from $131.00 to $136.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, August 11th. BMO Capital Markets raised their price objective on DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Finally, Jefferies Financial Group began coverage on DTE Energy in a research note on Monday. They set a “hold” rating and a $137.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $130.54.

DTE Energy Price Performance

Shares of NYSE DTE opened at $129.74 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 1.73. DTE Energy has a fifty-two week low of $92.58 and a fifty-two week high of $131.66. The business has a 50 day moving average price of $125.52 and a two-hundred day moving average price of $117.67. The firm has a market cap of $26.85 billion, a PE ratio of 21.23, a price-to-earnings-growth ratio of 2.29 and a beta of 0.67.

DTE Energy (NYSE:DTE) last released its quarterly 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. The business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.65 billion. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. During the same quarter last year, the company earned $0.99 earnings per share. Sell-side analysts expect that DTE Energy will post 6.7 earnings per share 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.