DTE Energy Company $DTE Stock Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its position in DTE Energy Company (NYSE:DTE) by 3.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 430,418 shares of the utilities provider’s stock after selling 16,331 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.21% of DTE Energy worth $52,425,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. First Bancorp Inc ME acquired a new stake in DTE Energy during the 2nd quarter worth $29,000. Community Bank N.A. acquired a new position in DTE Energy in the second quarter valued at about $31,000. N.E.W. Advisory Services LLC acquired a new position in DTE Energy in the second quarter valued at about $35,000. Optiver Holding B.V. acquired a new position in DTE Energy in the first quarter valued at about $36,000. Finally, Elevation Wealth Partners LLC increased its holdings in shares of DTE Energy by 682.4% in the third quarter. Elevation Wealth Partners LLC now owns 266 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 232 shares in the last quarter. Institutional investors own 76.06% of the company’s stock.

Insider Buying and Selling at DTE Energy

In other news, Vice Chairman Trevor Lauer sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $135.71, for a total transaction of $678,550.00. Following the completion of the transaction, the insider directly owned 73,122 shares of the company’s stock, valued at $9,923,386.62. This represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

DTE has been the topic of a number of research analyst reports. Barclays dropped their price target on DTE Energy from $154.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Friday, October 16th. Truist Financial set a $139.00 price objective on DTE Energy in a research report on Friday, October 16th. Wall Street Zen cut DTE Energy from a “hold” rating to a “sell” rating in a research note on Monday, October 19th. Jefferies Financial Group set a $152.00 target price on shares of DTE Energy in a report on Friday, October 23rd. Finally, HSBC assumed coverage on shares of DTE Energy in a research note on Thursday, October 22nd. They issued a “hold” rating and a $135.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, DTE Energy currently has a consensus rating of “Moderate Buy” and an average target price of $148.92.

DTE Energy Price Performance

DTE stock opened at $137.01 on Thursday. The stock has a 50-day moving average price of $130.23 and a two-hundred day moving average price of $140.85. DTE Energy Company has a 1 year low of $119.68 and a 1 year high of $155.74. The stock has a market cap of $28.51 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 2.75 and a beta of 0.35. The company has a current ratio of 0.80, a quick ratio of 0.53 and a debt-to-equity ratio of 2.13.

DTE Energy Company Profile

DTE Energy Co is a Detroit-based energy holding company that operates through regulated utility businesses and other energy-related activities. Its principal subsidiaries are DTE Electric and DTE Gas, which provide electricity and natural gas to residential, commercial and industrial customers across southeastern Michigan.

DTE Electric generates, transmits and distributes electricity, while DTE Gas transports and distributes natural gas through an extensive pipeline network. The company is also involved in renewable energy, energy services, natural gas storage and pipeline operations, and other nonutility activities designed to support the broader energy system.

DTE Energy traces its roots to the Detroit Edison Company, which was established in 1903 to serve the Detroit area.