Sheaff Brock Investment Advisors LLC Buys 29 Shares of DTE Energy Company (NYSE:DTE)

Sheaff Brock Investment Advisors LLC grew its position in DTE Energy Company (NYSE:DTE) by 0.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,738 shares of the utilities provider’s stock after purchasing an additional 29 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in DTE Energy were worth $501,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Pacad Investment Ltd. bought a new position in DTE Energy during the second quarter valued at about $106,000. Gradient Investments LLC grew its position in DTE Energy by 0.3% during the second quarter. Gradient Investments LLC now owns 1,048 shares of the utilities provider’s stock valued at $111,000 after buying an additional 3 shares during the period. Tortoise Capital Advisors L.L.C. grew its position in DTE Energy by 335.1% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,340 shares of the utilities provider’s stock valued at $142,000 after buying an additional 1,032 shares during the period. Johnson Financial Group Inc. grew its position in DTE Energy by 226.0% during the first quarter. Johnson Financial Group Inc. now owns 1,542 shares of the utilities provider’s stock valued at $158,000 after buying an additional 1,069 shares during the period. Finally, Van ECK Associates Corp grew its position in DTE Energy by 18.0% during the first quarter. Van ECK Associates Corp now owns 1,551 shares of the utilities provider’s stock valued at $158,000 after buying an additional 237 shares during the period. Institutional investors own 68.58% of the company’s stock.

DTE has been the subject of a number of research reports. BidaskClub lowered shares of DTE Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Jefferies Group LLC restated a “buy” rating and issued a $121.00 price objective on shares of DTE Energy in a research report on Tuesday, August 29th. KeyCorp restated a “buy” rating and issued a $113.00 price objective on shares of DTE Energy in a research report on Sunday, August 27th. Zacks Investment Research downgraded shares of DTE Energy from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $111.00 target price on shares of DTE Energy in a research note on Friday, July 28th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. DTE Energy currently has a consensus rating of “Buy” and an average price target of $109.20.

In other DTE Energy news, insider Larry E. Steward sold 9,999 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $107.52, for a total transaction of $1,075,092.48. Following the transaction, the insider now owns 39,698 shares of the company’s stock, valued at $4,268,328.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark W. Stiers sold 3,632 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $110.03, for a total value of $399,628.96. Following the transaction, the insider now directly owns 25,257 shares in the company, valued at approximately $2,779,027.71. The disclosure for this sale can be found here. Insiders have sold 25,631 shares of company stock worth $2,756,681 in the last three months. 0.53% of the stock is currently owned by corporate insiders.

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DTE Energy Company (DTE) opened at 108.38 on Friday. The company has a 50 day moving average of $110.59 and a 200 day moving average of $106.68. The stock has a market capitalization of $19.44 billion, a P/E ratio of 18.66 and a beta of 0.22. DTE Energy Company has a 52 week low of $89.66 and a 52 week high of $113.71.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $1.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.08. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.35 billion. DTE Energy had a return on equity of 10.67% and a net margin of 8.80%. The business’s revenue was up 26.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 earnings per share. Equities analysts expect that DTE Energy Company will post $5.42 EPS for the current fiscal year.

DTE Energy Company Profile

Institutional Ownership by Quarter for DTE Energy (NYSE:DTE)

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