Kentucky Retirement Systems Lowers Stock Holdings in DTE Energy (NYSE:DTE)

Kentucky Retirement Systems lowered its position in shares of DTE Energy (NYSE:DTE) by 0.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 15,594 shares of the utilities provider’s stock after selling 85 shares during the period. Kentucky Retirement Systems’ holdings in DTE Energy were worth $1,731,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Securities Inc. purchased a new position in shares of DTE Energy during the 4th quarter valued at $54,000. Envestnet Portfolio Solutions Inc. increased its stake in DTE Energy by 5.5% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,003 shares of the utilities provider’s stock worth $331,000 after acquiring an additional 157 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in DTE Energy in the 4th quarter worth about $399,000. PNC Financial Services Group Inc. raised its holdings in shares of DTE Energy by 15.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 50,084 shares of the utilities provider’s stock valued at $5,522,000 after acquiring an additional 6,797 shares in the last quarter. Finally, UBS Group AG grew its holdings in shares of DTE Energy by 108.3% during the fourth quarter. UBS Group AG now owns 275,295 shares of the utilities provider’s stock worth $30,354,000 after purchasing an additional 143,112 shares in the last quarter. Institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Up 1.3 %

Shares of DTE Energy stock opened at $125.09 on Friday. The company’s 50 day moving average price is $121.82 and its 200-day moving average price is $114.98. DTE Energy has a 52-week low of $90.14 and a 52-week high of $127.59. 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 $25.89 billion, a price-to-earnings ratio of 20.47, a P/E/G ratio of 2.28 and a beta of 0.67.

DTE Energy (NYSE:DTE) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.22. The firm had revenue of $2.88 billion for 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 quarter in the previous year, the company earned $0.99 earnings per share. Equities research analysts forecast that DTE Energy will post 6.7 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on DTE shares. Morgan Stanley raised their target price on shares of DTE Energy from $114.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Scotiabank lifted their price objective on shares of DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Bank of America increased their target price on DTE Energy from $131.00 to $136.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Mizuho lifted their price target on DTE Energy from $121.00 to $133.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Finally, LADENBURG THALM/SH SH began coverage on DTE Energy in a research report on Wednesday, August 14th. They set a “buy” rating and a $131.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $127.58.

DTE Energy Profile

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.