Mirae Asset Global Investments Co. Ltd. Acquires 2,239 Shares of DTE Energy Company $DTE

Mirae Asset Global Investments Co. Ltd. lifted its holdings in DTE Energy Company (NYSE:DTE) by 10.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,291 shares of the utilities provider’s stock after acquiring an additional 2,239 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in DTE Energy were worth $3,218,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in DTE. NBC Securities Inc. bought a new position in shares of DTE Energy in the 1st quarter valued at about $122,000. UMB Bank n.a. lifted its holdings in shares of DTE Energy by 0.9% in the 1st quarter. UMB Bank n.a. now owns 9,041 shares of the utilities provider’s stock valued at $1,250,000 after acquiring an additional 78 shares during the last quarter. Patriot Financial Group Insurance Agency LLC bought a new position in shares of DTE Energy in the 1st quarter valued at about $230,000. Capital Investment Advisors LLC lifted its holdings in shares of DTE Energy by 7.1% in the 1st quarter. Capital Investment Advisors LLC now owns 6,875 shares of the utilities provider’s stock valued at $951,000 after acquiring an additional 457 shares during the last quarter. Finally, City Holding Co. lifted its stake in DTE Energy by 9.9% in the first quarter. City Holding Co. now owns 8,064 shares of the utilities provider’s stock worth $1,115,000 after purchasing an additional 727 shares during the last quarter. Institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Performance

Shares of DTE stock opened at $142.20 on Wednesday. The firm has a market cap of $29.52 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 2.81 and a beta of 0.42. The company’s 50 day moving average is $138.21 and its 200 day moving average is $135.76. The company has a quick ratio of 0.57, a current ratio of 0.94 and a debt-to-equity ratio of 1.96. DTE Energy Company has a 52-week low of $115.59 and a 52-week high of $143.79.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.01). The business had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.67 billion. DTE Energy had a net margin of 10.16% and a return on equity of 12.72%. On average, sell-side analysts anticipate that DTE Energy Company will post 7.18 EPS for the current fiscal year.

Insider Transactions at DTE Energy

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of DTE Energy stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $140.53, for a total value of $224,848.00. Following the transaction, the vice president directly owned 4,153 shares of the company’s stock, valued at approximately $583,621.09. The trade was a 27.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on DTE. Scotiabank reissued a “sector perform” rating and issued a $147.00 price objective on shares of DTE Energy in a research note on Friday. BMO Capital Markets raised their price objective on shares of DTE Energy from $140.00 to $144.00 and gave the stock a “market perform” rating in a research note on Monday, August 25th. Wall Street Zen raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday, October 3rd. Weiss Ratings reissued a “buy (b-)” rating on shares of DTE Energy in a research note on Saturday, September 27th. Finally, Morgan Stanley decreased their price objective on shares of DTE Energy from $140.00 to $137.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $144.00.

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.