Cadence Bank Sells 324 Shares of DTE Energy (NYSE:DTE)

Cadence Bank lowered its position in shares of DTE Energy (NYSE:DTE) by 3.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,746 shares of the utilities provider’s stock after selling 324 shares during the quarter. Cadence Bank’s holdings in DTE Energy were worth $1,251,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Cetera Advisors LLC purchased a new position in shares of DTE Energy in the first quarter valued at about $708,000. Cetera Investment Advisers lifted its position in shares of DTE Energy by 242.0% in the first quarter. Cetera Investment Advisers now owns 29,306 shares of the utilities provider’s stock valued at $3,286,000 after acquiring an additional 20,737 shares in the last quarter. Bank of Montreal Can lifted its position in shares of DTE Energy by 19.0% in the second quarter. Bank of Montreal Can now owns 269,031 shares of the utilities provider’s stock valued at $30,220,000 after acquiring an additional 42,960 shares in the last quarter. Hancock Whitney Corp lifted its position in shares of DTE Energy by 80.0% in the third quarter. Hancock Whitney Corp now owns 12,885 shares of the utilities provider’s stock valued at $1,655,000 after acquiring an additional 5,725 shares in the last quarter. Finally, Entropy Technologies LP lifted its position in shares of DTE Energy by 10.9% in the third quarter. Entropy Technologies LP now owns 45,182 shares of the utilities provider’s stock valued at $5,802,000 after acquiring an additional 4,441 shares in the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DTE has been the topic of several research reports. Morgan Stanley reduced their target price on DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Barclays lifted their target price on DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Mizuho lifted their target price on DTE Energy from $121.00 to $133.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Wells Fargo & Company lifted their target price on DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, Jefferies Financial Group initiated coverage on DTE Energy in a report on Monday, October 21st. They issued a “hold” rating and a $137.00 target price on the stock. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, DTE Energy has an average rating of “Moderate Buy” and an average target price of $131.46.

DTE Energy Trading Up 0.5 %

DTE opened at $126.08 on Thursday. The stock has a market cap of $26.11 billion, a price-to-earnings ratio of 17.08, a P/E/G ratio of 2.31 and a beta of 0.68. The stock’s 50 day moving average price is $124.66 and its 200-day moving average price is $119.88. DTE Energy has a one year low of $102.17 and a one year high of $131.66. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.62 and a current ratio of 0.83.

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.