Mesirow Financial Investment Management Inc. Grows Stake in DTE Energy (NYSE:DTE)

Mesirow Financial Investment Management Inc. increased its stake in DTE Energy (NYSE:DTE) by 39.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,166 shares of the utilities provider’s stock after purchasing an additional 1,454 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in DTE Energy were worth $663,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in DTE. Envestnet Portfolio Solutions Inc. increased its position in shares of DTE Energy by 59.6% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,792 shares of the utilities provider’s stock valued at $537,000 after purchasing an additional 1,789 shares during the last quarter. Empowered Funds LLC grew its holdings in DTE Energy by 16.2% in the 1st quarter. Empowered Funds LLC now owns 2,427 shares of the utilities provider’s stock worth $272,000 after acquiring an additional 338 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in DTE Energy during the 1st quarter valued at about $550,000. QRG Capital Management Inc. raised its position in DTE Energy by 64.7% during the 1st quarter. QRG Capital Management Inc. now owns 25,187 shares of the utilities provider’s stock valued at $2,825,000 after purchasing an additional 9,890 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in shares of DTE Energy by 6.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 229,495 shares of the utilities provider’s stock valued at $25,139,000 after acquiring an additional 14,022 shares in the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Trading Up 1.6 %

DTE Energy stock opened at $119.73 on Tuesday. The stock has a market cap of $24.80 billion, a P/E ratio of 16.22, a PEG ratio of 2.13 and a beta of 0.68. DTE Energy has a 1 year low of $97.43 and a 1 year high of $131.66. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62. The firm’s 50 day moving average price is $125.42 and its 200-day moving average price is $119.05.

Wall Street Analyst Weigh In

Several brokerages have commented on DTE. BMO Capital Markets raised their price objective on shares of DTE Energy from $135.00 to $140.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Jefferies Financial Group initiated coverage on DTE Energy in a research note on Monday, October 21st. They set a “hold” rating and a $137.00 target price on the stock. 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. LADENBURG THALM/SH SH assumed coverage on DTE Energy in a report on Wednesday, August 14th. They issued a “buy” rating and a $131.00 target price on the stock. Finally, Wells Fargo & Company boosted their target price on shares of DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, DTE Energy currently has a consensus rating of “Moderate Buy” and an average price target of $131.46.

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.