Verition Fund Management LLC Lowers Position in DTE Energy (NYSE:DTE)

Verition Fund Management LLC decreased its holdings in shares of DTE Energy (NYSE:DTE) by 85.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 123,816 shares of the utilities provider’s stock after selling 732,286 shares during the period. Verition Fund Management LLC owned 0.06% of DTE Energy worth $15,899,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Mizuho Securities USA LLC increased its holdings in DTE Energy by 44,009.5% during the third quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock valued at $903,878,000 after buying an additional 7,023,042 shares during the period. Millennium Management LLC boosted its position in DTE Energy by 42.4% during the 2nd quarter. Millennium Management LLC now owns 543,299 shares of the utilities provider’s stock valued at $60,312,000 after acquiring an additional 161,776 shares in the last quarter. Panagora Asset Management Inc. raised its position in shares of DTE Energy by 133.2% in the 2nd quarter. Panagora Asset Management Inc. now owns 248,151 shares of the utilities provider’s stock worth $27,547,000 after acquiring an additional 141,718 shares in the last quarter. Beck Bode LLC bought a new position in shares of DTE Energy in the 2nd quarter worth $13,355,000. Finally, Ameriprise Financial Inc. lifted its stake in shares of DTE Energy by 1.6% during the 2nd 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 during the last quarter. Institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Down 0.2 %

Shares of DTE stock opened at $125.86 on Friday. DTE Energy has a fifty-two week low of $102.17 and a fifty-two week high of $131.66. The firm has a market capitalization of $26.07 billion, a PE ratio of 17.05, a P/E/G ratio of 2.33 and a beta of 0.68. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.62 and a current ratio of 0.83. The stock’s 50-day simple moving average is $124.73 and its 200-day simple moving average is $119.99.

Wall Street Analysts Forecast Growth

DTE has been the topic of several analyst reports. LADENBURG THALM/SH SH began coverage on DTE Energy in a research note on Wednesday, August 14th. They issued a “buy” rating and a $131.00 target price on the stock. KeyCorp lifted their price objective on shares of DTE Energy from $136.00 to $138.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. BMO Capital Markets increased their target price on shares of DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, Barclays increased their price objective on DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $131.46.

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.