Bayforest Capital Ltd Buys Shares of 4,372 DTE Energy Company $DTE

Bayforest Capital Ltd purchased a new position in shares of DTE Energy Company (NYSE:DTE) during the second quarter, HoldingsChannel reports. The firm purchased 4,372 shares of the utilities provider’s stock, valued at approximately $579,000.

A number of other hedge funds also recently modified their holdings of DTE. GAMMA Investing LLC lifted its holdings in shares of DTE Energy by 8.3% during the first quarter. GAMMA Investing LLC now owns 8,560 shares of the utilities provider’s stock worth $1,184,000 after purchasing an additional 658 shares during the period. Fifth Third Bancorp lifted its holdings in shares of DTE Energy by 3.5% during the first quarter. Fifth Third Bancorp now owns 7,705 shares of the utilities provider’s stock worth $1,065,000 after purchasing an additional 264 shares during the period. Sagespring Wealth Partners LLC lifted its holdings in shares of DTE Energy by 14.0% during the first quarter. Sagespring Wealth Partners LLC now owns 3,309 shares of the utilities provider’s stock worth $458,000 after purchasing an additional 406 shares during the period. QRG Capital Management Inc. lifted its holdings in shares of DTE Energy by 9.0% during the first quarter. QRG Capital Management Inc. now owns 34,897 shares of the utilities provider’s stock worth $4,825,000 after purchasing an additional 2,884 shares during the period. Finally, Stephens Consulting LLC lifted its holdings in shares of DTE Energy by 135.2% during the first quarter. Stephens Consulting LLC now owns 9,036 shares of the utilities provider’s stock worth $1,249,000 after purchasing an additional 5,194 shares during the period. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Trading Up 1.2%

DTE opened at $141.81 on Wednesday. DTE Energy Company has a 1-year low of $115.59 and a 1-year high of $143.79. The company has a current ratio of 0.94, a quick ratio of 0.57 and a debt-to-equity ratio of 1.96. The company has a market cap of $29.44 billion, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. The company has a fifty day moving average price of $138.42 and a two-hundred day moving average price of $135.94.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of DTE Energy from $145.00 to $147.00 and gave the stock a “neutral” rating in a report on Tuesday, July 15th. Barclays boosted their target price on shares of DTE Energy from $138.00 to $148.00 and gave the company an “equal weight” rating in a report on Tuesday. Scotiabank restated a “sector perform” rating and issued a $147.00 target price on shares of DTE Energy in a report on Friday, October 3rd. BMO Capital Markets boosted their target price on shares of DTE Energy from $140.00 to $144.00 and gave the company a “market perform” rating in a report on Monday, August 25th. Finally, Wall Street Zen lowered shares of DTE Energy from a “hold” rating to a “sell” rating in a report on Saturday. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $146.08.

Insiders Place Their Bets

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 completion of the sale, 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 SEC, which is accessible through this hyperlink. Company insiders own 0.33% of the company’s stock.

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.