Fairscale Capital LLC Takes $54,000 Position in DTE Energy (NYSE:DTE)

Fairscale Capital LLC bought a new position in shares of DTE Energy (NYSE:DTE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 467 shares of the utilities provider’s stock, valued at approximately $54,000.

Other institutional investors have also modified their holdings of the company. Capital Research Global Investors grew its position in DTE Energy by 1.2% during the 1st quarter. Capital Research Global Investors now owns 21,194,653 shares of the utilities provider’s stock worth $2,376,768,000 after purchasing an additional 261,623 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of DTE Energy by 224.7% during the first quarter. Clearbridge Investments LLC now owns 2,538,106 shares of the utilities provider’s stock worth $284,623,000 after buying an additional 1,756,459 shares during the period. Janus Henderson Group PLC grew its holdings in shares of DTE Energy by 6,964.9% during the first quarter. Janus Henderson Group PLC now owns 2,090,350 shares of the utilities provider’s stock worth $234,410,000 after buying an additional 2,060,762 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in DTE Energy by 3.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,667,111 shares of the utilities provider’s stock valued at $185,066,000 after acquiring an additional 59,811 shares during the period. Finally, First Trust Advisors LP raised its stake in DTE Energy by 2.2% during the 4th quarter. First Trust Advisors LP now owns 781,181 shares of the utilities provider’s stock valued at $86,133,000 after acquiring an additional 16,712 shares during the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on DTE shares. Mizuho lifted their target price on DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Scotiabank lifted 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 report on Tuesday, August 20th. Wells Fargo & Company boosted their price objective on shares of DTE Energy from $125.00 to $133.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. LADENBURG THALM/SH SH started coverage on shares of DTE Energy in a research note on Wednesday, August 14th. They issued a “buy” rating and a $131.00 target price for the company. Finally, StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, August 11th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $127.58.

DTE Energy Stock Performance

DTE opened at $125.09 on Monday. DTE Energy has a 1-year low of $90.14 and a 1-year high of $127.59. The stock has a market cap of $25.89 billion, a P/E ratio of 20.47, a P/E/G ratio of 2.28 and a beta of 0.67. The stock’s 50 day simple moving average is $121.82 and its 200 day simple moving average is $115.04. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.69 and a quick ratio of 0.52.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.22. The business had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.65 billion. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. During the same quarter last year, the business posted $0.99 earnings per share. As a group, equities analysts anticipate that DTE Energy will post 6.7 EPS for the current fiscal year.

DTE Energy Company 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.