First Trust Direct Indexing L.P. Increases Position in DTE Energy (NYSE:DTE)

First Trust Direct Indexing L.P. boosted its holdings in DTE Energy (NYSE:DTE) by 6.0% during the third quarter, Holdings Channel.com reports. The firm owned 8,960 shares of the utilities provider’s stock after acquiring an additional 509 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in DTE Energy were worth $1,151,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. UniSuper Management Pty Ltd grew its holdings in DTE Energy by 407.3% in the first quarter. UniSuper Management Pty Ltd now owns 10,715 shares of the utilities provider’s stock worth $1,202,000 after purchasing an additional 8,603 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its holdings in DTE Energy by 9.9% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 124,264 shares of the utilities provider’s stock worth $13,934,000 after purchasing an additional 11,218 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in DTE Energy by 6.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 229,495 shares of the utilities provider’s stock worth $25,139,000 after purchasing an additional 14,022 shares during the period. Canada Pension Plan Investment Board grew its holdings in DTE Energy by 12.6% in the first quarter. Canada Pension Plan Investment Board now owns 381,985 shares of the utilities provider’s stock worth $42,836,000 after purchasing an additional 42,635 shares during the period. Finally, Cetera Advisors LLC purchased a new stake in DTE Energy in the first quarter worth about $708,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group began coverage on shares of DTE Energy in a report on Monday, October 21st. They issued a “hold” rating and a $137.00 price objective on the stock. KeyCorp upped their target price on shares of DTE Energy from $136.00 to $138.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Barclays upped their target price on shares of DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Bank of America upped their target price on shares of DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, Wells Fargo & Company upped their target price on shares of DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, DTE Energy currently has an average rating of “Moderate Buy” and a consensus target price of $131.46.

DTE Energy Stock Performance

DTE opened at $124.21 on Friday. The stock has a market capitalization of $25.72 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 2.29 and a beta of 0.67. The company has a fifty day moving average of $125.89 and a 200 day moving average of $118.36. DTE Energy has a fifty-two week low of $92.58 and a fifty-two week high of $131.66. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.69.

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.