Planning Capital Management Corp Sells 3,328 Shares of DTE Energy (NYSE:DTE)

Planning Capital Management Corp cut its position in DTE Energy (NYSE:DTE) by 10.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,951 shares of the utilities provider’s stock after selling 3,328 shares during the period. DTE Energy accounts for about 2.4% of Planning Capital Management Corp’s investment portfolio, making the stock its 16th biggest position. Planning Capital Management Corp’s holdings in DTE Energy were worth $3,589,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in DTE. Envestnet Portfolio Solutions Inc. increased its holdings in DTE Energy by 59.6% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,792 shares of the utilities provider’s stock valued at $537,000 after purchasing an additional 1,789 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of DTE Energy by 16.2% in the first quarter. Empowered Funds LLC now owns 2,427 shares of the utilities provider’s stock valued at $272,000 after buying an additional 338 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in DTE Energy during the 1st quarter worth about $550,000. State Board of Administration of Florida Retirement System grew its holdings in DTE Energy by 6.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 229,495 shares of the utilities provider’s stock worth $25,139,000 after acquiring an additional 14,022 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in DTE Energy by 23.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 253,458 shares of the utilities provider’s stock valued at $28,423,000 after acquiring an additional 48,117 shares in the last quarter. 76.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on DTE shares. Jefferies Financial Group began coverage on shares of DTE Energy in a research note on Monday, October 21st. They set a “hold” rating and a $137.00 price target on the stock. Barclays boosted their price objective on DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Morgan Stanley upped their target price on shares of DTE Energy from $121.00 to $128.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. BMO Capital Markets upped their price objective on DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Finally, Scotiabank lifted their price objective on shares of DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, DTE Energy presently has a consensus rating of “Moderate Buy” and an average price target of $131.46.

DTE Energy Trading Down 1.2 %

NYSE:DTE opened at $118.62 on Thursday. The company has a market cap of $24.57 billion, a P/E ratio of 16.07, a price-to-earnings-growth ratio of 2.17 and a beta of 0.68. DTE Energy has a twelve month low of $99.31 and a twelve month high of $131.66. The business has a 50 day moving average price of $125.05 and a two-hundred day moving average price of $119.18. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.76.

DTE Energy Company 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.