DTE Energy Company $DTE Shares Purchased by Bernard Wealth Management Corp.

Bernard Wealth Management Corp. increased its holdings in shares of DTE Energy Company (NYSE:DTE) by 7.9% during the second quarter, HoldingsChannel.com reports. The fund owned 10,991 shares of the utilities provider’s stock after buying an additional 801 shares during the period. DTE Energy accounts for about 0.7% of Bernard Wealth Management Corp.’s holdings, making the stock its 27th largest holding. Bernard Wealth Management Corp.’s holdings in DTE Energy were worth $1,456,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Aberdeen Group plc boosted its position in DTE Energy by 9.6% during the second quarter. Aberdeen Group plc now owns 97,536 shares of the utilities provider’s stock worth $12,920,000 after acquiring an additional 8,550 shares during the last quarter. Blue Trust Inc. boosted its holdings in DTE Energy by 17.4% in the 2nd quarter. Blue Trust Inc. now owns 3,199 shares of the utilities provider’s stock valued at $424,000 after purchasing an additional 475 shares during the last quarter. Cyndeo Wealth Partners LLC boosted its holdings in DTE Energy by 4.4% in the 2nd quarter. Cyndeo Wealth Partners LLC now owns 62,054 shares of the utilities provider’s stock valued at $8,220,000 after purchasing an additional 2,602 shares during the last quarter. Callan Family Office LLC boosted its holdings in DTE Energy by 198.0% in the 2nd quarter. Callan Family Office LLC now owns 5,256 shares of the utilities provider’s stock valued at $696,000 after purchasing an additional 3,492 shares during the last quarter. Finally, Blair William & Co. IL boosted its holdings in DTE Energy by 3.0% in the 2nd quarter. Blair William & Co. IL now owns 10,500 shares of the utilities provider’s stock valued at $1,391,000 after purchasing an additional 303 shares during the last quarter. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Lisa A. Muschong sold 1,600 shares of the company’s stock in a transaction that occurred 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 sale, the vice president directly owned 4,153 shares of the company’s stock, valued at $583,621.09. This represents a 27.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Barclays boosted their target price on shares of DTE Energy from $136.00 to $138.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. BMO Capital Markets boosted their target price on shares of DTE Energy from $140.00 to $144.00 and gave the company a “market perform” rating in a report on Monday, August 25th. Wall Street Zen lowered shares of DTE Energy from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings reiterated a “buy (b-)” rating on shares of DTE Energy in a report on Wednesday. Finally, JPMorgan Chase & Co. boosted their target price on shares of DTE Energy from $145.00 to $147.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $145.25.

DTE Energy Price Performance

DTE Energy stock opened at $140.29 on Friday. The company’s 50 day simple moving average is $138.40 and its 200-day simple moving average is $135.87. The company has a market capitalization of $29.12 billion, a price-to-earnings ratio of 20.19, a price-to-earnings-growth ratio of 2.78 and a beta of 0.42. DTE Energy Company has a 1 year low of $115.59 and a 1 year high of $143.79. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.57 and a current ratio of 0.94.

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

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.