Hennessy Advisors Inc. Acquires 500 Shares of DTE Energy Company $DTE

Hennessy Advisors Inc. raised its holdings in DTE Energy Company (NYSE:DTE) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 51,304 shares of the utilities provider’s stock after purchasing an additional 500 shares during the quarter. Hennessy Advisors Inc.’s holdings in DTE Energy were worth $6,796,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in DTE. Northern Trust Corp lifted its position in DTE Energy by 0.5% during the 1st quarter. Northern Trust Corp now owns 1,836,832 shares of the utilities provider’s stock worth $253,979,000 after buying an additional 9,664 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of DTE Energy by 65.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,612,925 shares of the utilities provider’s stock valued at $223,019,000 after purchasing an additional 637,378 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of DTE Energy by 57.4% in the first quarter. JPMorgan Chase & Co. now owns 1,405,516 shares of the utilities provider’s stock valued at $194,341,000 after purchasing an additional 512,567 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in DTE Energy by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,316,107 shares of the utilities provider’s stock worth $181,978,000 after purchasing an additional 9,443 shares during the last quarter. Finally, Royal Bank of Canada raised its position in DTE Energy by 1.2% in the 1st quarter. Royal Bank of Canada now owns 1,173,220 shares of the utilities provider’s stock worth $162,221,000 after purchasing an additional 13,884 shares during the last quarter. Institutional investors own 76.06% of the company’s stock.

DTE Energy Trading Up 0.5%

NYSE:DTE opened at $140.02 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.57 and a debt-to-equity ratio of 1.96. DTE Energy Company has a 1-year low of $115.59 and a 1-year high of $142.05. The firm has a market capitalization of $29.07 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 2.78 and a beta of 0.42. The business’s 50-day moving average price is $138.02 and its two-hundred day moving average price is $135.69.

DTE Energy (NYSE:DTE) last posted its earnings results on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.01). The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.67 billion. DTE Energy had a return on equity of 12.72% and a net margin of 10.16%. On average, equities analysts expect that DTE Energy Company will post 7.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on DTE shares. BMO Capital Markets lifted their target price on DTE Energy from $140.00 to $144.00 and gave the company a “market perform” rating in a research note on Monday, August 25th. Wall Street Zen upgraded DTE Energy from a “sell” rating to a “hold” rating in a report on Friday. Morgan Stanley lowered their price objective on DTE Energy from $140.00 to $137.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Barclays boosted their price objective on DTE Energy from $136.00 to $138.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 15th. Finally, Scotiabank restated a “sector perform” rating and set a $147.00 target price on shares of DTE Energy in a research report on Friday. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $144.00.

Insiders Place Their Bets

In other news, VP Lisa A. Muschong sold 1,600 shares of DTE Energy stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $140.53, for a total transaction of $224,848.00. Following the transaction, the vice president directly owned 4,153 shares of the company’s stock, valued at $583,621.09. This trade represents a 27.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.33% of the company’s stock.

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.