Dai ichi Life Insurance Company Ltd Cuts Position in DTE Energy (NYSE:DTE)

Dai ichi Life Insurance Company Ltd cut its stake in DTE Energy (NYSE:DTE) by 57.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,141 shares of the utilities provider’s stock after selling 30,000 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in DTE Energy were worth $2,843,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DTE. Advisors Asset Management Inc. grew its position in DTE Energy by 70.9% in the first quarter. Advisors Asset Management Inc. now owns 6,753 shares of the utilities provider’s stock worth $757,000 after acquiring an additional 2,801 shares in the last quarter. Lazard Asset Management LLC grew its position in DTE Energy by 37,250.0% in the first quarter. Lazard Asset Management LLC now owns 2,988 shares of the utilities provider’s stock worth $334,000 after acquiring an additional 2,980 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in DTE Energy by 1.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 293,958 shares of the utilities provider’s stock worth $32,966,000 after acquiring an additional 3,672 shares in the last quarter. Tidal Investments LLC grew its position in DTE Energy by 9.2% in the first quarter. Tidal Investments LLC now owns 4,807 shares of the utilities provider’s stock worth $539,000 after acquiring an additional 405 shares in the last quarter. Finally, Coppell Advisory Solutions Corp. purchased a new position in DTE Energy in the first quarter worth $233,000. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Barclays upped their price target on shares of DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. KeyCorp upped their price target on shares of DTE Energy from $136.00 to $138.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th. 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 target for the company. Finally, Bank of America upped their price target on shares of DTE Energy from $131.00 to $136.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, DTE Energy currently has an average rating of “Moderate Buy” and a consensus price target of $131.46.

DTE Energy Price Performance

DTE stock opened at $125.44 on Wednesday. DTE Energy has a 1 year low of $102.17 and a 1 year high of $131.66. The company has a market cap of $25.98 billion, a P/E ratio of 17.00, a PEG ratio of 2.30 and a beta of 0.68. The firm has a 50-day moving average of $124.63 and a 200 day moving average of $119.83. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62.

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.