Princeton Global Asset Management LLC Trims Holdings in DTE Energy (NYSE:DTE)

by · The Markets Daily

Princeton Global Asset Management LLC lessened its stake in DTE Energy (NYSE:DTE – Free Report) by 2.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,305 shares of the utilities provider’s stock after selling 120 shares during the period. Princeton Global Asset Management LLC’s holdings in DTE Energy were worth $553,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in DTE. ESL Trust Services LLC bought a new stake in shares of DTE Energy in the 1st quarter worth about $27,000. Ridgewood Investments LLC acquired a new position in DTE Energy in the second quarter worth about $31,000. Salomon & Ludwin LLC increased its holdings in DTE Energy by 82.3% in the first quarter. Salomon & Ludwin LLC now owns 432 shares of the utilities provider’s stock valued at $48,000 after buying an additional 195 shares during the last quarter. Fairscale Capital LLC acquired a new stake in DTE Energy during the second quarter valued at approximately $54,000. Finally, Chilton Capital Management LLC bought a new position in DTE Energy during the 2nd quarter worth approximately $56,000. 76.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DTE. KeyCorp boosted their price target on DTE Energy from $136.00 to $138.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Scotiabank increased their target price on shares of DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. StockNews.com downgraded shares of DTE Energy from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Jefferies Financial Group assumed coverage on shares of DTE Energy in a research report on Monday, October 21st. They set a “hold” rating and a $137.00 price objective for the company. Finally, Morgan Stanley raised 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, DTE Energy has a consensus rating of “Moderate Buy” and a consensus price target of $131.46.

Check Out Our Latest Report on DTE Energy

DTE Energy Stock Performance

Shares of DTE stock opened at $121.29 on Friday. The business has a 50 day simple moving average of $125.84 and a 200 day simple moving average of $118.57. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62. The firm has a market capitalization of $25.12 billion, a price-to-earnings ratio of 16.43, a price-to-earnings-growth ratio of 2.25 and a beta of 0.68. DTE Energy has a 12-month low of $96.45 and a 12-month high of $131.66.

DTE Energy Company Profile

(Free Report)

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.

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