Intech Investment Management LLC Decreases Stock Position in DTE Energy (NYSE:DTE)

Intech Investment Management LLC lessened its position in shares of DTE Energy (NYSE:DTE) by 12.0% during the third quarter, Holdings Channel reports. The institutional investor owned 28,488 shares of the utilities provider’s stock after selling 3,895 shares during the quarter. Intech Investment Management LLC’s holdings in DTE Energy were worth $3,658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its holdings in DTE Energy by 4.1% during the third quarter. Advisors Asset Management Inc. now owns 7,481 shares of the utilities provider’s stock valued at $961,000 after purchasing an additional 298 shares during the last quarter. Howe & Rusling Inc. raised its position in shares of DTE Energy by 0.9% in the third quarter. Howe & Rusling Inc. now owns 111,427 shares of the utilities provider’s stock valued at $14,308,000 after purchasing an additional 1,045 shares during the period. Commerce Bank boosted its holdings in DTE Energy by 16.9% in the 3rd quarter. Commerce Bank now owns 23,194 shares of the utilities provider’s stock worth $2,978,000 after buying an additional 3,354 shares during the period. Prospera Private Wealth LLC purchased a new position in DTE Energy in the 3rd quarter valued at approximately $35,000. Finally, PNC Financial Services Group Inc. grew its stake in DTE Energy by 6.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 55,980 shares of the utilities provider’s stock valued at $7,188,000 after buying an additional 3,527 shares in the last quarter. Institutional investors own 76.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on DTE shares. Mizuho raised their price target on DTE Energy from $121.00 to $133.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Bank of America lifted their target price on DTE Energy from $131.00 to $136.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Morgan Stanley lowered their price target on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday. Wells Fargo & Company upped their target price on shares of DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, Scotiabank raised their price target on shares of DTE Energy from $120.00 to $137.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $131.46.

DTE Energy Trading Up 0.5 %

NYSE DTE opened at $124.60 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.76. The stock’s 50-day simple moving average is $124.66 and its two-hundred day simple moving average is $119.67. DTE Energy has a twelve month low of $102.17 and a twelve month high of $131.66. The company has a market capitalization of $25.80 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 2.29 and a beta of 0.68.

About DTE Energy

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.