MCF Advisors LLC Reduces Holdings in DTE Energy (NYSE:DTE)

MCF Advisors LLC cut its position in DTE Energy (NYSE:DTE) by 25.0% in the third quarter, Holdings Channel reports. The firm owned 1,509 shares of the utilities provider’s stock after selling 502 shares during the period. MCF Advisors LLC’s holdings in DTE Energy were worth $195,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in DTE. Wealthcare Advisory Partners LLC purchased a new position in shares of DTE Energy during the first quarter worth approximately $225,000. Wealth Enhancement Advisory Services LLC increased its stake in DTE Energy by 15.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,990 shares of the utilities provider’s stock valued at $1,569,000 after purchasing an additional 1,911 shares during the period. Foguth Wealth Management LLC. purchased a new stake in shares of DTE Energy in the first quarter valued at about $255,000. Founders Financial Securities LLC purchased a new position in shares of DTE Energy during the first quarter worth about $802,000. Finally, Denali Advisors LLC acquired a new position in DTE Energy in the 1st quarter valued at about $34,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Price Performance

Shares of DTE Energy stock traded down $3.20 on Friday, hitting $126.57. The company’s stock had a trading volume of 1,276,027 shares, compared to its average volume of 1,075,940. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 1.73. The firm has a fifty day moving average price of $125.77 and a 200-day moving average price of $117.87. DTE Energy has a 52-week low of $92.58 and a 52-week high of $131.66. The company has a market capitalization of $26.19 billion, a P/E ratio of 20.72, a price-to-earnings-growth ratio of 2.29 and a beta of 0.67.

DTE Energy (NYSE:DTE) last released its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.21 by $0.22. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same period in the prior year, the business earned $0.99 earnings per share. On average, equities research analysts expect that DTE Energy will post 6.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. KeyCorp lifted their target price on DTE Energy from $136.00 to $138.00 and gave the company an “overweight” rating in a research note on Tuesday. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, August 11th. Bank of America raised their target price on shares of DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Scotiabank boosted their price target on shares of DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Finally, LADENBURG THALM/SH SH started coverage on shares of DTE Energy in a research report on Wednesday, August 14th. They issued a “buy” rating and a $131.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $131.46.

DTE Energy 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.