Bank of Montreal Can Trims Position in DTE Energy (NYSE:DTE)

Bank of Montreal Can cut its position in DTE Energy (NYSE:DTE) by 1.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 265,955 shares of the utilities provider’s stock after selling 3,076 shares during the period. Bank of Montreal Can owned about 0.13% of DTE Energy worth $33,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cetera Advisors LLC purchased a new stake in shares of DTE Energy in the first quarter worth $708,000. Cetera Investment Advisers increased its stake in shares of DTE Energy by 242.0% in the first quarter. Cetera Investment Advisers now owns 29,306 shares of the utilities provider’s stock worth $3,286,000 after purchasing an additional 20,737 shares in the last quarter. Hancock Whitney Corp increased its stake in shares of DTE Energy by 80.0% in the third quarter. Hancock Whitney Corp now owns 12,885 shares of the utilities provider’s stock worth $1,655,000 after purchasing an additional 5,725 shares in the last quarter. Entropy Technologies LP increased its stake in shares of DTE Energy by 10.9% in the third quarter. Entropy Technologies LP now owns 45,182 shares of the utilities provider’s stock worth $5,802,000 after purchasing an additional 4,441 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of DTE Energy by 319.6% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 10,121 shares of the utilities provider’s stock worth $1,124,000 after purchasing an additional 7,709 shares in the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DTE has been the subject of a number of research reports. Morgan Stanley dropped their target price on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Jefferies Financial Group initiated coverage on shares of DTE Energy in a research report on Monday, October 21st. They set a “hold” rating and a $137.00 target price for the company. Wells Fargo & Company upped their target price on shares of DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Bank of America upped their target price on shares of DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Mizuho upped their target price on shares of DTE Energy from $121.00 to $133.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, DTE Energy presently has an average rating of “Moderate Buy” and a consensus target price of $131.46.

DTE Energy Trading Up 0.5 %

Shares of DTE opened at $126.08 on Friday. DTE Energy has a twelve month low of $102.17 and a twelve month high of $131.66. The company has a market cap of $26.11 billion, a P/E ratio of 17.08, a P/E/G ratio of 2.31 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. The company’s fifty day simple moving average is $124.71 and its 200-day simple moving average is $119.92.

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.