The Manufacturers Life Insurance Company Reduces Stake in DTE Energy (NYSE:DTE)

The Manufacturers Life Insurance Company lowered its stake in shares of DTE Energy (NYSE:DTE) by 7.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 434,828 shares of the utilities provider’s stock after selling 34,111 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in DTE Energy were worth $48,270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of DTE. ESL Trust Services LLC bought a new stake in DTE Energy in the first quarter worth $27,000. Rise Advisors LLC grew its position in DTE Energy by 89.6% during the 1st quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 129 shares during the last quarter. Ridgewood Investments LLC bought a new stake in DTE Energy during the 2nd quarter valued at about $31,000. Denali Advisors LLC bought a new position in shares of DTE Energy in the first quarter worth approximately $34,000. Finally, Salomon & Ludwin LLC grew its holdings in shares of DTE Energy by 82.3% during the first quarter. Salomon & Ludwin LLC now owns 432 shares of the utilities provider’s stock valued at $48,000 after buying an additional 195 shares during the last quarter. 76.06% of the stock is owned by institutional investors.

DTE Energy Stock Performance

DTE opened at $127.38 on Monday. DTE Energy has a twelve month low of $90.14 and a twelve month high of $127.89. The firm has a market capitalization of $26.36 billion, a PE ratio of 20.85, a PEG ratio of 2.32 and a beta of 0.67. 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 firm’s 50-day moving average price is $122.86 and its 200 day moving average price is $115.53.

DTE Energy (NYSE:DTE) last announced 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 during the quarter, compared to analyst estimates 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 prior year, the firm posted $0.99 earnings per share. As a group, sell-side analysts expect that DTE Energy will post 6.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Mizuho upped their price target on DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Wells Fargo & Company increased their price objective on shares of DTE Energy from $125.00 to $133.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. BMO Capital Markets lifted their target price on shares of DTE Energy from $126.00 to $135.00 and gave the stock a “market perform” rating in a research report on Friday, September 6th. 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. Finally, LADENBURG THALM/SH SH initiated coverage on DTE Energy in a research report on Wednesday, August 14th. They set a “buy” rating and a $131.00 price objective for the company. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $128.17.

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.