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

Dai ichi Life Insurance Company Ltd lessened its holdings in DTE Energy (NYSE:DTE - Free Report) by 57.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ridgewood Investments LLC purchased a new position in shares of DTE Energy in the 2nd quarter worth approximately $31,000. Ashton Thomas Securities LLC purchased a new position in shares of DTE Energy in the 3rd quarter worth approximately $35,000. Prospera Private Wealth LLC purchased a new position in shares of DTE Energy in the 3rd quarter worth approximately $35,000. Coastline Trust Co purchased a new position in shares of DTE Energy in the 3rd quarter worth approximately $39,000. Finally, Fairscale Capital LLC bought a new stake in shares of DTE Energy in the 2nd quarter worth approximately $54,000. Hedge funds and other institutional investors own 76.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on DTE shares. LADENBURG THALM/SH SH started coverage on shares of DTE Energy in a report on Wednesday, August 14th. They issued a "buy" rating and a $131.00 price target on the stock. Jefferies Financial Group started coverage on shares of DTE Energy in a report on Monday, October 21st. They issued a "hold" rating and a $137.00 price target on the stock. 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 report on Friday, November 22nd. Mizuho lifted their price target on shares of DTE Energy from $121.00 to $133.00 and gave the stock an "outperform" rating in a report on Tuesday, September 10th. Finally, KeyCorp lifted their price target on shares of DTE Energy from $136.00 to $138.00 and gave the stock an "overweight" rating in a report on Tuesday, October 22nd. Six investment 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.com, DTE Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $131.46.

DTE Energy Stock Up 0.2 %

DTE opened at $125.44 on Wednesday. The company has a fifty day moving average price of $124.63 and a 200-day moving average price of $119.83. The firm has a market capitalization of $25.98 billion, a P/E ratio of 17.00, a price-to-earnings-growth ratio of 2.30 and a beta of 0.68. 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 has a one year low of $102.17 and a one year high of $131.66.

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.

Want to see what other hedge funds are holding DTE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DTE Energy (NYSE:DTE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.