State of Alaska Department of Revenue Grows Stock Position in DTE Energy (NYSE:DTE)

State of Alaska Department of Revenue increased its holdings in DTE Energy (NYSE:DTEGet Rating) by 14.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 31,270 shares of the utilities provider’s stock after purchasing an additional 4,010 shares during the quarter. State of Alaska Department of Revenue’s holdings in DTE Energy were worth $3,963,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Private Advisor Group LLC lifted its holdings in shares of DTE Energy by 4.2% in the 4th quarter. Private Advisor Group LLC now owns 8,034 shares of the utilities provider’s stock worth $960,000 after acquiring an additional 322 shares during the last quarter. Equitable Holdings Inc. purchased a new position in shares of DTE Energy during the fourth quarter worth $202,000. Gabelli Funds LLC grew its stake in shares of DTE Energy by 2.9% in the fourth quarter. Gabelli Funds LLC now owns 35,100 shares of the utilities provider’s stock valued at $4,196,000 after buying an additional 1,000 shares in the last quarter. Invesco Ltd. raised its holdings in shares of DTE Energy by 12.3% in the 4th quarter. Invesco Ltd. now owns 1,925,229 shares of the utilities provider’s stock valued at $230,142,000 after buying an additional 210,638 shares during the period. Finally, Fiduciary Trust Co. lifted its stake in DTE Energy by 3.3% during the 4th quarter. Fiduciary Trust Co. now owns 7,410 shares of the utilities provider’s stock worth $886,000 after acquiring an additional 240 shares in the last quarter. 73.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at DTE Energy

In other news, COO Joi M. Harris sold 1,800 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $130.13, for a total transaction of $234,234.00. Following the sale, the chief operating officer now owns 8,011 shares of the company’s stock, valued at approximately $1,042,471.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other DTE Energy news, COO Joi M. Harris sold 1,800 shares of DTE Energy stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $130.13, for a total transaction of $234,234.00. Following the transaction, the chief operating officer now owns 8,011 shares of the company’s stock, valued at $1,042,471.43. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Joann Chavez sold 1,000 shares of DTE Energy stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $135.62, for a total value of $135,620.00. Following the completion of the transaction, the senior vice president now owns 9,657 shares in the company, valued at $1,309,682.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,700 shares of company stock valued at $747,753. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on DTE shares. Credit Suisse Group boosted their price target on shares of DTE Energy to $140.00 in a research note on Tuesday, August 9th. Mizuho cut their target price on shares of DTE Energy from $137.00 to $130.00 and set a “buy” rating on the stock in a research note on Monday, July 11th. Barclays decreased their price target on shares of DTE Energy from $141.00 to $131.00 and set an “equal weight” rating for the company in a research report on Monday, July 18th. Finally, Morgan Stanley increased their price objective on DTE Energy from $131.00 to $141.00 and gave the company an “overweight” rating in a research note on Tuesday, August 23rd. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, DTE Energy has an average rating of “Moderate Buy” and a consensus target price of $132.90.

DTE Energy Trading Down 1.6 %

NYSE:DTE opened at $126.59 on Thursday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.47 and a current ratio of 0.59. DTE Energy has a 1 year low of $108.22 and a 1 year high of $140.23. The stock has a market cap of $24.53 billion, a P/E ratio of 32.29, a P/E/G ratio of 3.62 and a beta of 0.60. The stock has a 50-day simple moving average of $130.79 and a 200-day simple moving average of $129.89.

DTE Energy (NYSE:DTEGet Rating) last issued its earnings results on Thursday, July 28th. The utilities provider reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.14). DTE Energy had a return on equity of 13.31% and a net margin of 4.27%. During the same period last year, the business posted $1.70 EPS. As a group, analysts anticipate that DTE Energy will post 6.02 earnings per share for the current fiscal year.

About DTE Energy

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DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.3 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.

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Institutional Ownership by Quarter for DTE Energy (NYSE:DTE)

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