GAMMA Investing LLC Raises Stock Holdings in DTE Energy (NYSE:DTE)

GAMMA Investing LLC raised its position in shares of DTE Energy (NYSE:DTE) by 25.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,917 shares of the utilities provider’s stock after acquiring an additional 1,216 shares during the period. GAMMA Investing LLC’s holdings in DTE Energy were worth $760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Grayhawk Investment Strategies Inc. purchased a new stake in shares of DTE Energy during the 4th quarter worth approximately $1,305,000. UniSuper Management Pty Ltd raised its holdings in DTE Energy by 407.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 10,715 shares of the utilities provider’s stock valued at $1,202,000 after buying an additional 8,603 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its holdings in DTE Energy by 9.9% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 124,264 shares of the utilities provider’s stock valued at $13,934,000 after buying an additional 11,218 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in DTE Energy by 6.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 229,495 shares of the utilities provider’s stock valued at $25,139,000 after buying an additional 14,022 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in DTE Energy by 12.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 381,985 shares of the utilities provider’s stock valued at $42,836,000 after buying an additional 42,635 shares during the period. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Price Performance

DTE opened at $125.48 on Wednesday. DTE Energy has a 12-month low of $92.58 and a 12-month high of $129.53. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. The business’s fifty day simple moving average is $124.04 and its 200-day simple moving average is $116.29. The company has a market capitalization of $25.97 billion, a price-to-earnings ratio of 20.54, 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 analysts’ consensus estimates of $1.21 by $0.22. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. The business had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter in the prior year, the company earned $0.99 EPS. On average, equities research analysts anticipate that DTE Energy will post 6.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DTE has been the topic of several recent research reports. Wells Fargo & Company increased their price target on DTE Energy from $125.00 to $133.00 and gave the company an “overweight” rating in a report on Friday, July 26th. LADENBURG THALM/SH SH initiated coverage on DTE Energy in a report on Wednesday, August 14th. They set a “buy” rating and a $131.00 price target on the stock. Scotiabank increased their price target on DTE Energy from $120.00 to $137.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. KeyCorp increased their price target on DTE Energy from $130.00 to $136.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, Morgan Stanley increased their price target on DTE Energy from $121.00 to $128.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Five investment 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $129.42.

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.