Procyon Advisors LLC Boosts Stock Position in DTE Energy (NYSE:DTE)

Procyon Advisors LLC grew its holdings in shares of DTE Energy (NYSE:DTE) by 4.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,884 shares of the utilities provider’s stock after purchasing an additional 503 shares during the quarter. Procyon Advisors LLC’s holdings in DTE Energy were worth $1,398,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Syon Capital LLC bought a new position in shares of DTE Energy during the 4th quarter valued at approximately $340,000. EP Wealth Advisors LLC purchased a new stake in DTE Energy in the fourth quarter worth $381,000. Scarborough Advisors LLC bought a new stake in shares of DTE Energy in the fourth quarter valued at $94,000. Goldman Sachs Group Inc. lifted its position in shares of DTE Energy by 19.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 665,528 shares of the utilities provider’s stock valued at $73,381,000 after buying an additional 107,369 shares during the last quarter. Finally, Creekmur Asset Management LLC bought a new position in shares of DTE Energy during the 4th quarter worth $53,000. 76.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Morgan Stanley increased their target price on shares of DTE Energy from $121.00 to $128.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. KeyCorp increased their target price on DTE Energy from $130.00 to $136.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Mizuho lifted their price target on DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. BMO Capital Markets increased their price objective on DTE Energy from $126.00 to $135.00 and gave the stock a “market perform” rating in a report on Friday, September 6th. Finally, LADENBURG THALM/SH SH began coverage on DTE Energy in a research note on Wednesday, August 14th. They issued a “buy” rating and a $131.00 target price for the company. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, DTE Energy has an average rating of “Moderate Buy” and an average target price of $129.42.

DTE Energy Stock Performance

Shares of DTE opened at $125.67 on Tuesday. The company has a market cap of $26.01 billion, a price-to-earnings ratio of 20.57, a P/E/G ratio of 2.29 and a beta of 0.67. The business’s fifty day simple moving average is $124.40 and its two-hundred day simple moving average is $116.83. DTE Energy has a 12 month low of $92.58 and a 12 month high of $129.53. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73.

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

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.