Jennison Associates LLC Reduces Position in DTE Energy (NYSE:DTE)

Jennison Associates LLC decreased its position in DTE Energy (NYSE:DTE) by 4.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 758,303 shares of the utilities provider’s stock after selling 39,450 shares during the period. Jennison Associates LLC’s holdings in DTE Energy were worth $97,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DTE. Commerce Bank raised its stake in shares of DTE Energy by 16.9% in the third quarter. Commerce Bank now owns 23,194 shares of the utilities provider’s stock worth $2,978,000 after purchasing an additional 3,354 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in DTE Energy during the 3rd quarter worth approximately $35,000. PNC Financial Services Group Inc. lifted its stake in DTE Energy by 6.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 55,980 shares of the utilities provider’s stock valued at $7,188,000 after acquiring an additional 3,527 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in DTE Energy during the 3rd quarter valued at approximately $1,257,000. Finally, Caprock Group LLC boosted its holdings in shares of DTE Energy by 7.0% in the 3rd quarter. Caprock Group LLC now owns 2,397 shares of the utilities provider’s stock valued at $311,000 after acquiring an additional 157 shares during the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Stock Up 0.4 %

Shares of NYSE DTE opened at $122.17 on Thursday. The firm has a market cap of $25.30 billion, a price-to-earnings ratio of 16.55, a price-to-earnings-growth ratio of 2.22 and a beta of 0.68. The company’s 50-day simple moving average is $124.70 and its 200-day simple moving average is $119.51. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.76. DTE Energy has a 52-week low of $102.07 and a 52-week high of $131.66.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on DTE shares. Morgan Stanley boosted their target price on shares of DTE Energy from $121.00 to $128.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Wells Fargo & Company boosted their price objective on DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a report on Friday, October 25th. BMO Capital Markets raised their target price on DTE Energy from $135.00 to $140.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Mizuho boosted their price target on DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Finally, StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.