The Manufacturers Life Insurance Company Has $50.33 Million Stake in DTE Energy (NYSE:DTE)

The Manufacturers Life Insurance Company decreased its stake in shares of DTE Energy (NYSE:DTE) by 9.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 391,967 shares of the utilities provider’s stock after selling 42,861 shares during the period. The Manufacturers Life Insurance Company’s holdings in DTE Energy were worth $50,332,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of DTE. Mizuho Securities USA LLC grew its position in shares of DTE Energy by 44,009.5% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock worth $903,878,000 after buying an additional 7,023,042 shares during the period. Millennium Management LLC grew its position in DTE Energy by 42.4% in the 2nd quarter. Millennium Management LLC now owns 543,299 shares of the utilities provider’s stock valued at $60,312,000 after purchasing an additional 161,776 shares during the period. Panagora Asset Management Inc. grew its position in DTE Energy by 133.2% in the 2nd quarter. Panagora Asset Management Inc. now owns 248,151 shares of the utilities provider’s stock valued at $27,547,000 after purchasing an additional 141,718 shares during the period. Beck Bode LLC acquired a new stake in DTE Energy in the 2nd quarter valued at $13,355,000. Finally, Ameriprise Financial Inc. grew its position in DTE Energy by 1.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,557,309 shares of the utilities provider’s stock valued at $616,938,000 after purchasing an additional 86,205 shares during the period. Institutional investors and hedge funds own 76.06% of the company’s stock.

Analyst Ratings Changes

DTE has been the subject of several research reports. Morgan Stanley reduced their price target on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. KeyCorp lifted their price target on shares of DTE Energy from $136.00 to $138.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Bank of America lifted their price target on shares of DTE Energy from $131.00 to $136.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Mizuho raised their price objective on DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Finally, BMO Capital Markets raised their price objective on DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $131.46.

DTE Energy Trading Up 0.5 %

NYSE DTE opened at $126.08 on Friday. The stock has a market capitalization of $26.11 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 2.31 and a beta of 0.68. 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 current ratio of 0.83 and a quick ratio of 0.62. The business’s fifty day moving average is $124.71 and its 200-day moving average is $119.92.

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.