Sumitomo Mitsui Trust Group Inc. Has $59.16 Million Stake in DTE Energy (NYSE:DTE)

Sumitomo Mitsui Trust Group Inc. lowered its position in DTE Energy (NYSE:DTE) by 0.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 460,686 shares of the utilities provider’s stock after selling 1,922 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.22% of DTE Energy worth $59,157,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. ESL Trust Services LLC acquired a new stake in DTE Energy in the 1st quarter valued at about $27,000. Ashton Thomas Securities LLC bought a new stake in DTE Energy in the third quarter valued at approximately $35,000. Ridgewood Investments LLC acquired a new stake in shares of DTE Energy in the second quarter valued at approximately $31,000. Fairscale Capital LLC acquired a new stake in shares of DTE Energy in the second quarter valued at approximately $54,000. Finally, Carmichael Hill & Associates Inc. boosted its stake in shares of DTE Energy by 47.5% during the 3rd quarter. Carmichael Hill & Associates Inc. now owns 497 shares of the utilities provider’s stock worth $64,000 after acquiring an additional 160 shares during the period. Institutional investors own 76.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DTE. LADENBURG THALM/SH SH began coverage on DTE Energy in a report on Wednesday, August 14th. They set a “buy” rating and a $131.00 price target for the company. Morgan Stanley lifted their target price on shares of DTE Energy from $121.00 to $128.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Barclays raised their price objective on shares of DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. BMO Capital Markets upped their target price on DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Finally, Scotiabank lifted their price target on DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.46.

DTE Energy Stock Up 0.6 %

Shares of NYSE DTE opened at $119.37 on Friday. The company has a market cap of $24.72 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 2.17 and a beta of 0.68. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 1.76. DTE Energy has a 12 month low of $101.25 and a 12 month high of $131.66. The stock has a 50-day moving average price of $125.05 and a two-hundred day moving average price of $119.18.

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.