DTE Energy (NYSE:DTE) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC reduced its stake in shares of DTE Energy (NYSE:DTE) by 85.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 123,816 shares of the utilities provider’s stock after selling 732,286 shares during the quarter. Verition Fund Management LLC’s holdings in DTE Energy were worth $15,899,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of DTE. Public Sector Pension Investment Board grew its holdings in DTE Energy by 2.8% during the third quarter. Public Sector Pension Investment Board now owns 36,133 shares of the utilities provider’s stock worth $4,640,000 after acquiring an additional 1,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in DTE Energy by 3.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,124 shares of the utilities provider’s stock valued at $8,234,000 after acquiring an additional 1,970 shares during the period. Blueshift Asset Management LLC purchased a new stake in DTE Energy in the 3rd quarter worth approximately $583,000. Townsquare Capital LLC grew its stake in shares of DTE Energy by 10.1% during the 3rd quarter. Townsquare Capital LLC now owns 8,831 shares of the utilities provider’s stock worth $1,134,000 after purchasing an additional 810 shares during the period. Finally, Brooklyn Investment Group purchased a new position in shares of DTE Energy during the 3rd quarter valued at approximately $83,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Down 0.2 %

NYSE DTE opened at $125.86 on Friday. The business has a fifty day moving average price of $124.73 and a 200 day moving average price of $119.99. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.62 and a current ratio of 0.83. The company has a market cap of $26.07 billion, a P/E ratio of 17.05, a P/E/G ratio of 2.33 and a beta of 0.68. DTE Energy has a one year low of $102.17 and a one year high of $131.66.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on DTE shares. Mizuho increased their price target on shares of DTE Energy from $121.00 to $133.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Barclays increased their target price on shares of DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Scotiabank lifted their price target on DTE Energy from $120.00 to $137.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Jefferies Financial Group began coverage on DTE Energy in a research report on Monday, October 21st. They set a “hold” rating and a $137.00 price target on the stock. Finally, Wells Fargo & Company boosted their price objective on DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $131.46.

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.