Kentucky Retirement Systems Cuts Stake in DTE Energy (NYSE:DTE)

Kentucky Retirement Systems reduced its position in shares of DTE Energy (NYSE:DTE) by 7.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,422 shares of the utilities provider’s stock after selling 1,172 shares during the period. Kentucky Retirement Systems’ holdings in DTE Energy were worth $1,852,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of DTE. Capital Research Global Investors lifted its stake in shares of DTE Energy by 1.2% in the first quarter. Capital Research Global Investors now owns 21,194,653 shares of the utilities provider’s stock valued at $2,376,768,000 after purchasing an additional 261,623 shares during the period. Ameriprise Financial Inc. raised its position in shares of DTE Energy by 1.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,557,309 shares of the utilities provider’s stock worth $616,938,000 after purchasing an additional 86,205 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of DTE Energy by 6,964.9% in the first quarter. Janus Henderson Group PLC now owns 2,090,350 shares of the utilities provider’s stock valued at $234,410,000 after acquiring an additional 2,060,762 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of DTE Energy by 3.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,667,111 shares of the utilities provider’s stock valued at $185,066,000 after acquiring an additional 59,811 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in DTE Energy by 10.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 730,283 shares of the utilities provider’s stock worth $81,071,000 after purchasing an additional 67,086 shares in the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on DTE shares. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. Mizuho lifted their target price on shares of DTE Energy from $121.00 to $133.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Jefferies Financial Group started coverage on DTE Energy in a research note on Monday, October 21st. They set a “hold” rating and a $137.00 price target on the stock. Scotiabank upped their target price on DTE Energy from $120.00 to $137.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Finally, Bank of America raised their price target on DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $131.46.

DTE Energy Price Performance

DTE Energy stock opened at $120.09 on Monday. 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 firm has a market capitalization of $24.87 billion, a P/E ratio of 16.27, a PEG ratio of 2.22 and a beta of 0.68. The firm has a fifty day moving average of $124.90 and a 200-day moving average of $119.37. DTE Energy has a 52-week low of $101.44 and a 52-week high of $131.66.

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.