DRW Securities LLC Makes New Investment in DTE Energy (NYSE:DTE)

DRW Securities LLC bought a new position in shares of DTE Energy (NYSE:DTE) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 10,219 shares of the utilities provider’s stock, valued at approximately $1,312,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DTE. Mizuho Securities USA LLC boosted its position in shares of DTE Energy by 44,009.5% in the third quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock valued at $903,878,000 after acquiring an additional 7,023,042 shares during the period. Millennium Management LLC boosted its position in shares of DTE Energy by 42.4% in the second quarter. Millennium Management LLC now owns 543,299 shares of the utilities provider’s stock valued at $60,312,000 after acquiring an additional 161,776 shares during the period. Panagora Asset Management Inc. boosted its position in shares of DTE Energy by 133.2% in the second quarter. Panagora Asset Management Inc. now owns 248,151 shares of the utilities provider’s stock valued at $27,547,000 after acquiring an additional 141,718 shares during the period. Beck Bode LLC bought a new position in shares of DTE Energy in the second quarter valued at approximately $13,355,000. Finally, Ameriprise Financial Inc. boosted its position in shares of DTE Energy by 1.6% in the second quarter. Ameriprise Financial Inc. now owns 5,557,309 shares of the utilities provider’s stock valued at $616,938,000 after acquiring an additional 86,205 shares during the period. Institutional investors own 76.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on DTE shares. Wells Fargo & Company raised their price objective 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. KeyCorp raised their price objective on shares of DTE Energy from $136.00 to $138.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Bank of America lifted their target price on shares of DTE Energy from $131.00 to $136.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. BMO Capital Markets lifted their target price on shares of DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Finally, Morgan Stanley dropped their target price on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $131.46.

DTE Energy Stock Performance

DTE stock opened at $125.14 on Tuesday. The firm has a market cap of $25.92 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 2.30 and a beta of 0.68. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.76. DTE Energy has a twelve month low of $102.17 and a twelve month high of $131.66. The business’s fifty day simple moving average is $124.63 and its two-hundred day simple moving average is $119.76.

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.