Bayforest Capital Ltd Purchases Shares of 4,372 DTE Energy Company $DTE

Bayforest Capital Ltd purchased a new stake in DTE Energy Company (NYSE:DTE) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 4,372 shares of the utilities provider’s stock, valued at approximately $579,000.

Other large investors have also recently bought and sold shares of the company. Bessemer Group Inc. raised its holdings in DTE Energy by 5.1% in the 1st quarter. Bessemer Group Inc. now owns 2,192 shares of the utilities provider’s stock valued at $303,000 after acquiring an additional 107 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in DTE Energy in the 1st quarter valued at about $567,000. Goldman Sachs Group Inc. raised its holdings in DTE Energy by 65.3% in 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 acquiring an additional 637,378 shares during the period. Focus Partners Wealth raised its holdings in DTE Energy by 3.6% in the 1st quarter. Focus Partners Wealth now owns 181,905 shares of the utilities provider’s stock valued at $25,152,000 after acquiring an additional 6,375 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in DTE Energy by 9.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 53,714 shares of the utilities provider’s stock valued at $7,115,000 after acquiring an additional 4,838 shares during the period. 76.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of the firm’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 value of $224,848.00. Following the sale, the vice president owned 4,153 shares in the company, valued at $583,621.09. This trade represents a 27.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.33% of the stock is owned by corporate insiders.

DTE Energy Stock Performance

NYSE DTE opened at $141.81 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.57 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $29.44 billion, a price-to-earnings ratio of 20.40, a P/E/G ratio of 3.00 and a beta of 0.42. The firm’s 50 day simple moving average is $138.42 and its 200 day simple moving average is $135.94. DTE Energy Company has a 1 year low of $115.59 and a 1 year high of $143.79.

DTE Energy (NYSE:DTE) last posted its quarterly 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 firm 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%. As a group, research analysts expect that DTE Energy Company will post 7.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on DTE shares. UBS Group raised their target price on shares of DTE Energy from $148.00 to $158.00 and gave the stock a “buy” rating in a report on Friday. BMO Capital Markets raised their target price on shares of DTE Energy from $140.00 to $144.00 and gave the stock a “market perform” rating in a report on Monday, August 25th. JPMorgan Chase & Co. raised their target price on shares of DTE Energy from $145.00 to $147.00 and gave the stock a “neutral” rating in a report on Tuesday, July 15th. Scotiabank reaffirmed a “sector perform” rating and set a $147.00 target price on shares of DTE Energy in a report on Friday, October 3rd. Finally, Wall Street Zen cut shares of DTE Energy from a “hold” rating to a “sell” rating in a report on Saturday. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $146.08.

DTE Energy 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.