Millennium Management LLC Boosts Stock Holdings in DTE Energy (NYSE:DTE)

Millennium Management LLC lifted its stake in shares of DTE Energy (NYSE:DTE) by 42.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 543,299 shares of the utilities provider’s stock after acquiring an additional 161,776 shares during the quarter. Millennium Management LLC owned 0.26% of DTE Energy worth $60,312,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. MBB Public Markets I LLC purchased a new stake in shares of DTE Energy during the second quarter worth $1,643,000. Decade Renewable Partners LP grew its stake in shares of DTE Energy by 63.8% during the second quarter. Decade Renewable Partners LP now owns 65,700 shares of the utilities provider’s stock worth $7,293,000 after purchasing an additional 25,600 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of 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 purchasing an additional 86,205 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of DTE Energy by 17.2% during the second quarter. AQR Capital Management LLC now owns 73,096 shares of the utilities provider’s stock worth $8,098,000 after purchasing an additional 10,726 shares in the last quarter. Finally, Armistice Capital LLC acquired a new position in shares of DTE Energy during the second quarter worth $223,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on DTE shares. LADENBURG THALM/SH SH started coverage on shares of DTE Energy in a research note on Wednesday, August 14th. They set a “buy” rating and a $131.00 target price for the company. BMO Capital Markets boosted their target price on shares of DTE Energy from $126.00 to $135.00 and gave the stock a “market perform” rating in a research note on Friday, September 6th. KeyCorp boosted their target price on shares of DTE Energy from $130.00 to $136.00 and gave the stock an “overweight” rating in a research note on Monday. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, August 11th. Finally, Scotiabank upped their price objective on shares of DTE Energy from $120.00 to $137.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, DTE Energy currently has a consensus rating of “Moderate Buy” and an average target price of $128.67.

DTE Energy Price Performance

Shares of NYSE:DTE opened at $128.41 on Tuesday. The company has a 50-day simple moving average of $123.09 and a 200-day simple moving average of $115.66. DTE Energy has a one year low of $90.14 and a one year high of $128.48. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.69. The stock has a market capitalization of $26.57 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 2.32 and a beta of 0.67.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.22. The firm had revenue of $2.88 billion during the quarter, compared to analysts’ expectations 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 posted $0.99 earnings per share. On average, analysts predict that DTE Energy will post 6.7 EPS for the current 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.