Citigroup Inc. Sells 31,054 Shares of DTE Energy (NYSE:DTE)

Citigroup Inc. trimmed its stake in DTE Energy (NYSE:DTE) by 14.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 180,750 shares of the utilities provider’s stock after selling 31,054 shares during the quarter. Citigroup Inc.’s holdings in DTE Energy were worth $23,210,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Mizuho Securities USA LLC boosted its stake in DTE Energy by 44,009.5% in the 3rd quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock worth $903,878,000 after purchasing an additional 7,023,042 shares in the last quarter. Ameriprise Financial Inc. grew its holdings 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 valued at $616,938,000 after buying an additional 86,205 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of DTE Energy by 3.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,667,111 shares of the utilities provider’s stock valued at $185,066,000 after buying an additional 59,811 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of DTE Energy by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,274,837 shares of the utilities provider’s stock valued at $163,702,000 after acquiring an additional 14,937 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in DTE Energy by 10.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 730,283 shares of the utilities provider’s stock worth $81,071,000 after acquiring an additional 67,086 shares during the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on DTE shares. Morgan Stanley reduced their target price on DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. LADENBURG THALM/SH SH started coverage on DTE Energy in a research report on Wednesday, August 14th. They issued a “buy” rating and a $131.00 target price for the company. Mizuho raised their price target on shares of DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Scotiabank boosted their price objective on shares of DTE Energy from $120.00 to $137.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Finally, Barclays raised their target price on shares of DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Six 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 a consensus price target of $131.46.

DTE Energy Stock Performance

NYSE:DTE opened at $125.44 on Wednesday. The stock has a 50-day simple moving average of $124.63 and a two-hundred day simple moving average of $119.83. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.62 and a current ratio of 0.83. DTE Energy has a 52-week low of $102.17 and a 52-week high of $131.66. The firm has a market capitalization of $25.98 billion, a PE ratio of 17.00, a P/E/G ratio of 2.30 and a beta of 0.68.

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.