Pinebridge Investments L.P. bought a new position in shares of DTE Energy Company (NYSE:DTE) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,524 shares of the utilities provider’s stock, valued at approximately $161,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacad Investment Ltd. acquired a new position in DTE Energy during the 2nd quarter worth $106,000. Gradient Investments LLC grew its stake in DTE Energy by 0.3% during the 2nd quarter. Gradient Investments LLC now owns 1,048 shares of the utilities provider’s stock worth $111,000 after purchasing an additional 3 shares in the last quarter. Vantage Investment Advisors LLC grew its stake in DTE Energy by 0.8% during the 2nd quarter. Vantage Investment Advisors LLC now owns 1,323 shares of the utilities provider’s stock worth $140,000 after purchasing an additional 10 shares in the last quarter. Tortoise Capital Advisors L.L.C. grew its stake in DTE Energy by 335.1% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 1,340 shares of the utilities provider’s stock worth $142,000 after purchasing an additional 1,032 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in DTE Energy by 18.0% during the 1st quarter. Van ECK Associates Corp now owns 1,551 shares of the utilities provider’s stock worth $158,000 after purchasing an additional 237 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

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Several research analysts recently commented on DTE shares. Jefferies Group LLC reissued a “buy” rating and set a $121.00 target price on shares of DTE Energy in a research note on Tuesday, August 29th. KeyCorp reaffirmed a “buy” rating and set a $113.00 price objective on shares of DTE Energy in a research report on Sunday, August 27th. BidaskClub raised DTE Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. BMO Capital Markets reaffirmed a “hold” rating and set a $111.00 price objective on shares of DTE Energy in a research report on Friday, July 28th. Finally, Zacks Investment Research cut DTE Energy from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $108.63.

DTE Energy Company (DTE) opened at 107.68 on Friday. The stock’s 50 day moving average price is $110.32 and its 200 day moving average price is $107.27. The firm has a market capitalization of $19.32 billion, a PE ratio of 18.54 and a beta of 0.20. DTE Energy Company has a 52-week low of $89.66 and a 52-week high of $113.71.

DTE Energy (NYSE:DTE) last announced its earnings results on Wednesday, July 26th. The utilities provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.08. The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.35 billion. DTE Energy had a return on equity of 10.67% and a net margin of 8.80%. The company’s revenue was up 26.2% on a year-over-year basis. During the same period last year, the firm earned $0.98 earnings per share. Analysts expect that DTE Energy Company will post $5.42 earnings per share for the current year.

In related news, insider Larry E. Steward sold 9,999 shares of DTE Energy stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $107.52, for a total value of $1,075,092.48. Following the completion of the transaction, the insider now directly owns 39,698 shares in the company, valued at $4,268,328.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark W. Stiers sold 3,632 shares of DTE Energy stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $110.03, for a total value of $399,628.96. Following the completion of the transaction, the insider now owns 25,257 shares of the company’s stock, valued at $2,779,027.71. The disclosure for this sale can be found here. Insiders sold 25,631 shares of company stock valued at $2,756,681 over the last quarter. Insiders own 0.53% of the company’s stock.

About DTE Energy

Institutional Ownership by Quarter for DTE Energy (NYSE:DTE)

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