Checchi Capital Advisers LLC Lowers Holdings in DTE Energy Company $DTE

Checchi Capital Advisers LLC cut its holdings in DTE Energy Company (NYSE:DTE) by 10.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,847 shares of the utilities provider’s stock after selling 208 shares during the period. Checchi Capital Advisers LLC’s holdings in DTE Energy were worth $245,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in DTE. Northern Trust Corp increased its stake in DTE Energy by 0.5% in the 1st quarter. Northern Trust Corp now owns 1,836,832 shares of the utilities provider’s stock worth $253,979,000 after acquiring an additional 9,664 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in DTE Energy by 65.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,612,925 shares of the utilities provider’s stock valued at $223,019,000 after buying an additional 637,378 shares during the period. JPMorgan Chase & Co. raised its holdings in DTE Energy by 57.4% during the 1st quarter. JPMorgan Chase & Co. now owns 1,405,516 shares of the utilities provider’s stock valued at $194,341,000 after buying an additional 512,567 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in DTE Energy by 0.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,316,107 shares of the utilities provider’s stock valued at $181,978,000 after buying an additional 9,443 shares during the period. Finally, Royal Bank of Canada raised its holdings in DTE Energy by 1.2% during the 1st quarter. Royal Bank of Canada now owns 1,173,220 shares of the utilities provider’s stock valued at $162,221,000 after buying an additional 13,884 shares during the period. 76.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Lisa A. Muschong sold 1,600 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $140.53, for a total transaction of $224,848.00. Following the transaction, the vice president owned 4,153 shares of the company’s stock, valued at approximately $583,621.09. This represents a 27.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.33% of the company’s stock.

DTE Energy Stock Performance

Shares of DTE Energy stock opened at $142.20 on Wednesday. The stock’s fifty day moving average is $138.21 and its two-hundred day moving average is $135.76. The company has a market capitalization of $29.52 billion, a PE ratio of 20.46, a price-to-earnings-growth ratio of 2.81 and a beta of 0.42. The company has a quick ratio of 0.57, a current ratio of 0.94 and a debt-to-equity ratio of 1.96. DTE Energy Company has a 52 week low of $115.59 and a 52 week high of $143.79.

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

Analyst Ratings Changes

DTE has been the topic of several recent research reports. Weiss Ratings restated a “buy (b-)” rating on shares of DTE Energy in a report on Saturday, September 27th. JPMorgan Chase & Co. increased their price target on DTE Energy from $145.00 to $147.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. BMO Capital Markets increased their price target on DTE Energy from $140.00 to $144.00 and gave the company a “market perform” rating in a report on Monday, August 25th. Scotiabank restated a “sector perform” rating and set a $147.00 price target on shares of DTE Energy in a report on Friday. Finally, Wall Street Zen raised DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, October 3rd. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $144.00.

DTE Energy Company 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.