DTE Energy Company $DTE Holdings Increased by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC grew its stake in shares of DTE Energy Company (NYSE:DTE) by 4.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,054 shares of the utilities provider’s stock after buying an additional 2,602 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in DTE Energy were worth $8,220,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its stake in shares of DTE Energy by 65.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,612,925 shares of the utilities provider’s stock worth $223,019,000 after purchasing an additional 637,378 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of DTE Energy by 57.4% in the 1st quarter. JPMorgan Chase & Co. now owns 1,405,516 shares of the utilities provider’s stock worth $194,341,000 after purchasing an additional 512,567 shares during the last quarter. Nuveen LLC acquired a new position in shares of DTE Energy in the 1st quarter worth approximately $67,315,000. The Manufacturers Life Insurance Company grew its stake in shares of DTE Energy by 44.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 721,209 shares of the utilities provider’s stock worth $99,722,000 after purchasing an additional 222,894 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of DTE Energy by 1,066.0% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 210,728 shares of the utilities provider’s stock worth $29,137,000 after purchasing an additional 192,656 shares during the last quarter. 76.06% of the stock is currently owned by institutional investors.

DTE Energy Stock Performance

DTE Energy stock opened at $140.05 on Friday. The firm’s 50 day simple moving average is $138.36 and its 200-day simple moving average is $135.83. The company has a market cap of $29.07 billion, a P/E ratio of 20.15, a price-to-earnings-growth ratio of 2.81 and a beta of 0.42. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.94 and a quick ratio of 0.57. DTE Energy Company has a fifty-two week low of $115.59 and a fifty-two week high of $143.79.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.01). The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.67 billion. DTE Energy had a return on equity of 12.72% and a net margin of 10.16%. As a group, equities research analysts predict that DTE Energy Company will post 7.18 EPS for the current year.

Analysts Set New Price Targets

DTE has been the topic of several recent research reports. Scotiabank reaffirmed a “sector perform” rating and issued a $147.00 price objective on shares of DTE Energy in a research note on Friday, October 3rd. Morgan Stanley lowered their price objective on shares of DTE Energy from $140.00 to $137.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. JPMorgan Chase & Co. lifted their price objective on shares of DTE Energy from $145.00 to $147.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 15th. Barclays lifted their price objective on shares of DTE Energy from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 15th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of DTE Energy in a research report on Wednesday. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $144.00.

Insider Activity at DTE Energy

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

DTE Energy 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.