ExodusPoint Capital Management LP Lowers Stock Holdings in DTE Energy (NYSE:DTE)

ExodusPoint Capital Management LP reduced its stake in DTE Energy (NYSE:DTE) by 54.6% during the second quarter, HoldingsChannel.com reports. The firm owned 425,257 shares of the utilities provider’s stock after selling 512,428 shares during the quarter. DTE Energy makes up about 0.4% of ExodusPoint Capital Management LP’s portfolio, making the stock its 27th largest holding. ExodusPoint Capital Management LP’s holdings in DTE Energy were worth $46,787,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund raised its holdings in DTE Energy by 0.6% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 14,962 shares of the utilities provider’s stock worth $1,639,000 after acquiring an additional 89 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in DTE Energy by 0.3% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,844 shares of the utilities provider’s stock worth $3,598,000 after buying an additional 95 shares in the last quarter. Capital Advisors Ltd. LLC raised its position in DTE Energy by 2.2% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 4,459 shares of the utilities provider’s stock worth $491,000 after buying an additional 96 shares during the last quarter. Avitas Wealth Management LLC raised its position in DTE Energy by 0.4% in the 2nd quarter. Avitas Wealth Management LLC now owns 22,773 shares of the utilities provider’s stock worth $2,505,000 after buying an additional 100 shares during the last quarter. Finally, Caldwell Sutter Capital Inc. lifted its stake in DTE Energy by 60.6% during the 2nd quarter. Caldwell Sutter Capital Inc. now owns 265 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 74.72% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. StockNews.com cut shares of DTE Energy from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. Mizuho lowered their price target on DTE Energy from $121.00 to $106.00 and set a “buy” rating on the stock in a report on Friday, November 3rd. Morgan Stanley dropped their price target on DTE Energy from $118.00 to $111.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 25th. BMO Capital Markets lowered their target price on DTE Energy from $109.00 to $107.00 and set a “market perform” rating on the stock in a report on Friday, November 3rd. Finally, Barclays began coverage on shares of DTE Energy in a research report on Wednesday, August 23rd. They set an “overweight” rating and a $117.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, DTE Energy presently has an average rating of “Moderate Buy” and an average price target of $80.21.

DTE Energy Price Performance

NYSE:DTE traded down $0.62 on Monday, reaching $102.98. 330,775 shares of the company’s stock traded hands, compared to its average volume of 1,285,430. The stock has a 50-day simple moving average of $99.88 and a 200-day simple moving average of $106.13. DTE Energy has a 12 month low of $90.14 and a 12 month high of $122.40. The firm has a market cap of $21.24 billion, a PE ratio of 17.12, a P/E/G ratio of 2.95 and a beta of 0.64. The company has a quick ratio of 0.57, a current ratio of 0.85 and a debt-to-equity ratio of 1.71.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.23). DTE Energy had a return on equity of 9.85% and a net margin of 8.99%. The business had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same period in the prior year, the firm posted $1.60 earnings per share. Equities research analysts forecast that DTE Energy will post 5.77 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 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 solar assets.