DTE Energy Company $DTE Stock Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its holdings in DTE Energy Company (NYSE:DTE) by 3.7% during the third quarter, Holdings Channel.com reports. The firm owned 430,418 shares of the utilities provider’s stock after selling 16,331 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in DTE Energy were worth $52,425,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. BlackRock Inc. acquired a new position in DTE Energy during the second quarter worth $3,915,284,000. Jupiter Topco LLC bought a new position in DTE Energy in the second quarter valued at $477,264,000. Janus Henderson Group PLC increased its stake in DTE Energy by 1.3% in the 1st quarter. Janus Henderson Group PLC now owns 3,084,544 shares of the utilities provider’s stock valued at $451,022,000 after buying an additional 40,346 shares during the last quarter. Bank of America Corp DE acquired a new stake in DTE Energy in the 2nd quarter valued at $417,001,000. Finally, Soroban Capital Partners LP increased its stake in DTE Energy by 2.0% in the 1st quarter. Soroban Capital Partners LP now owns 2,038,473 shares of the utilities provider’s stock valued at $298,066,000 after buying an additional 39,963 shares during the last quarter. Institutional investors own 76.06% of the company’s stock.

Analyst Ratings Changes

DTE has been the topic of several analyst reports. Weiss Ratings cut shares of DTE Energy from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, September 25th. HSBC began coverage on DTE Energy in a report on Thursday, October 22nd. They issued a “hold” rating and a $135.00 price objective for the company. Barclays lowered their target price on DTE Energy from $154.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Friday, October 16th. Morgan Stanley dropped their target price on DTE Energy from $141.00 to $139.00 and set an “overweight” rating on the stock in a report on Wednesday, October 21st. Finally, Wall Street Zen cut DTE Energy from a “hold” rating to a “sell” rating in a research report on Monday, October 19th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, DTE Energy presently has a consensus rating of “Moderate Buy” and an average price target of $148.92.

Insider Transactions at DTE Energy

In other DTE Energy news, Vice Chairman Trevor Lauer sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $135.71, for a total transaction of $678,550.00. Following the sale, the insider directly owned 73,122 shares of the company’s stock, valued at approximately $9,923,386.62. This represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.60% of the company’s stock.

DTE Energy Price Performance

NYSE:DTE opened at $137.01 on Thursday. DTE Energy Company has a 1-year low of $119.68 and a 1-year high of $155.74. The company has a current ratio of 0.80, a quick ratio of 0.53 and a debt-to-equity ratio of 2.13. The firm has a fifty day simple moving average of $130.23 and a 200 day simple moving average of $140.85. The stock has a market capitalization of $28.51 billion, a PE ratio of 18.73, a P/E/G ratio of 2.75 and a beta of 0.35.

DTE Energy Company Profile

DTE Energy Co is a Detroit-based energy holding company that operates through regulated utility businesses and other energy-related activities. Its principal subsidiaries are DTE Electric and DTE Gas, which provide electricity and natural gas to residential, commercial and industrial customers across southeastern Michigan.

DTE Electric generates, transmits and distributes electricity, while DTE Gas transports and distributes natural gas through an extensive pipeline network. The company is also involved in renewable energy, energy services, natural gas storage and pipeline operations, and other nonutility activities designed to support the broader energy system.

DTE Energy traces its roots to the Detroit Edison Company, which was established in 1903 to serve the Detroit area.