Blueshift Asset Management LLC Buys New Position in DTE Energy (NYSE:DTE)

Blueshift Asset Management LLC purchased a new stake in DTE Energy (NYSE:DTE) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 4,544 shares of the utilities provider’s stock, valued at approximately $583,000.

A number of other hedge funds have also added to or reduced their stakes in DTE. Townsquare Capital LLC boosted 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 valued at $1,134,000 after purchasing an additional 810 shares in the last quarter. Brooklyn Investment Group purchased a new stake in DTE Energy in the third quarter worth about $83,000. FMR LLC boosted its position in DTE Energy by 6.1% during the 3rd quarter. FMR LLC now owns 342,608 shares of the utilities provider’s stock valued at $43,994,000 after acquiring an additional 19,678 shares in the last quarter. D.A. Davidson & CO. grew its holdings in shares of DTE Energy by 2.4% during the 3rd quarter. D.A. Davidson & CO. now owns 5,037 shares of the utilities provider’s stock worth $647,000 after acquiring an additional 119 shares during the period. Finally, Hancock Whitney Corp raised its position in shares of DTE Energy by 80.0% in the 3rd quarter. Hancock Whitney Corp now owns 12,885 shares of the utilities provider’s stock worth $1,655,000 after acquiring an additional 5,725 shares in the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Stock Performance

Shares of DTE opened at $126.08 on Thursday. The company 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 business’s fifty day simple moving average is $124.66 and its two-hundred day simple moving average is $119.88. DTE Energy has a 12 month low of $102.17 and a 12 month high of $131.66. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 1.76.

Wall Street Analyst Weigh In

Several research firms recently weighed in on DTE. Jefferies Financial Group initiated 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. LADENBURG THALM/SH SH assumed coverage on DTE Energy in a research report on Wednesday, August 14th. They set a “buy” rating and a $131.00 price objective for the company. Morgan Stanley reduced their target price on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Barclays lifted their price target on shares of DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, KeyCorp upped their price objective on shares of DTE Energy from $136.00 to $138.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, DTE Energy has a consensus rating of “Moderate Buy” and a consensus target price of $131.46.

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.