Citigroup Inc. Cuts Stake in DTE Energy (NYSE:DTE)

Citigroup Inc. trimmed its stake in shares of DTE Energy (NYSE:DTE - Free Report) by 14.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 180,750 shares of the utilities provider's stock after selling 31,054 shares during the period. Citigroup Inc. owned 0.09% of DTE Energy worth $23,210,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DTE. Raymond James Trust N.A. boosted its position in DTE Energy by 4.6% during the third quarter. Raymond James Trust N.A. now owns 7,166 shares of the utilities provider's stock worth $920,000 after acquiring an additional 314 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in DTE Energy by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,274,837 shares of the utilities provider's stock worth $163,702,000 after acquiring an additional 14,937 shares during the last quarter. L & S Advisors Inc acquired a new position in DTE Energy during the third quarter worth about $2,330,000. Advisors Asset Management Inc. boosted its position in DTE Energy by 4.1% during the third quarter. Advisors Asset Management Inc. now owns 7,481 shares of the utilities provider's stock worth $961,000 after acquiring an additional 298 shares during the last quarter. Finally, Howe & Rusling Inc. boosted its position in DTE Energy by 0.9% during the third quarter. Howe & Rusling Inc. now owns 111,427 shares of the utilities provider's stock worth $14,308,000 after acquiring an additional 1,045 shares during the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on DTE. Scotiabank boosted their price target on shares of DTE Energy from $120.00 to $137.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, August 20th. Bank of America boosted their price target 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. Morgan Stanley lowered their price target on shares of DTE Energy from $131.00 to $128.00 and set an "overweight" rating on the stock in a research report on Friday, November 22nd. Mizuho lifted their target price on shares of DTE Energy from $121.00 to $133.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 10th. Finally, LADENBURG THALM/SH SH initiated coverage on shares of DTE Energy in a research note on Wednesday, August 14th. They set a "buy" rating and a $131.00 target price on the stock. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $131.46.

DTE Energy Price Performance

DTE Energy stock opened at $125.44 on Wednesday. The company's 50 day simple moving average is $124.63 and its 200-day simple moving average is $119.83. The company has a market capitalization of $25.98 billion, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 2.30 and a beta of 0.68. DTE Energy has a 1 year low of $102.17 and a 1 year high of $131.66. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.62 and a current ratio of 0.83.

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.