Lincoln Capital Corp Purchases Shares of 22,162 DTE Energy (NYSE:DTE)

Lincoln Capital Corp acquired a new position in shares of DTE Energy (NYSE:DTE) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 22,162 shares of the utilities provider’s stock, valued at approximately $2,846,000. DTE Energy makes up approximately 1.2% of Lincoln Capital Corp’s holdings, making the stock its 27th biggest position.

A number of other large investors have also recently made changes to their positions in DTE. Capital Research Global Investors boosted its position in shares of DTE Energy by 1.2% during the 1st quarter. Capital Research Global Investors now owns 21,194,653 shares of the utilities provider’s stock worth $2,376,768,000 after acquiring an additional 261,623 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in DTE Energy by 1.6% during the second quarter. Ameriprise Financial Inc. now owns 5,557,309 shares of the utilities provider’s stock worth $616,938,000 after purchasing an additional 86,205 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of DTE Energy by 224.7% during the 1st quarter. Clearbridge Investments LLC now owns 2,538,106 shares of the utilities provider’s stock worth $284,623,000 after buying an additional 1,756,459 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of DTE Energy by 6,964.9% in the 1st quarter. Janus Henderson Group PLC now owns 2,090,350 shares of the utilities provider’s stock valued at $234,410,000 after buying an additional 2,060,762 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of DTE Energy by 3.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,667,111 shares of the utilities provider’s stock valued at $185,066,000 after buying an additional 59,811 shares during the last quarter. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

DTE Energy Stock Performance

NYSE DTE opened at $126.57 on Friday. The stock has a market capitalization of $26.19 billion, a price-to-earnings ratio of 20.72, a PEG ratio of 2.29 and a beta of 0.67. The business’s 50 day moving average is $125.68 and its two-hundred day moving average is $117.75. DTE Energy has a 12-month low of $92.58 and a 12-month high of $131.66. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Thursday, October 24th. The utilities provider reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.35. The firm had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $3.17 billion. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. Research analysts expect that DTE Energy will post 6.7 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, August 11th. Mizuho raised their price target on DTE Energy from $121.00 to $133.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Bank of America lifted their price target on DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. LADENBURG THALM/SH SH initiated coverage on shares of DTE Energy in a research report on Wednesday, August 14th. They set a “buy” rating and a $131.00 target price on the stock. Finally, Wells Fargo & Company lifted their target price on shares of DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a report on Friday. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $131.46.

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.