Jennison Associates LLC Has $97.37 Million Position in DTE Energy (NYSE:DTE)

Jennison Associates LLC cut its position in shares of DTE Energy (NYSE:DTE - Free Report) by 4.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 758,303 shares of the utilities provider's stock after selling 39,450 shares during the quarter. Jennison Associates LLC owned 0.37% of DTE Energy worth $97,374,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Commerce Bank lifted its stake in DTE Energy by 16.9% during the third quarter. Commerce Bank now owns 23,194 shares of the utilities provider's stock valued at $2,978,000 after buying an additional 3,354 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in DTE Energy in the 3rd quarter worth approximately $35,000. PNC Financial Services Group Inc. increased its position in DTE Energy by 6.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 55,980 shares of the utilities provider's stock worth $7,188,000 after purchasing an additional 3,527 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of DTE Energy during the 3rd quarter valued at about $1,257,000. Finally, Caprock Group LLC grew its stake in shares of DTE Energy by 7.0% in the 3rd quarter. Caprock Group LLC now owns 2,397 shares of the utilities provider's stock valued at $311,000 after buying an additional 157 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on DTE shares. BMO Capital Markets raised their price target on shares of DTE Energy from $135.00 to $140.00 and gave the company a "market perform" rating in a report on Friday, October 18th. Mizuho boosted their price target on DTE Energy from $121.00 to $133.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 10th. StockNews.com raised DTE Energy from a "sell" rating to a "hold" rating in a report on Tuesday, November 5th. Wells Fargo & Company upped their price objective on shares of DTE Energy from $133.00 to $145.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. Finally, LADENBURG THALM/SH SH started coverage on DTE Energy in a research report on Wednesday, August 14th. They issued a "buy" rating and a $131.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $131.46.

DTE Energy Price Performance

Shares of DTE traded up $1.67 during trading hours on Thursday, hitting $123.86. The stock had a trading volume of 743,513 shares, compared to its average volume of 1,121,603. The stock has a market capitalization of $25.65 billion, a price-to-earnings ratio of 16.55, a P/E/G ratio of 2.24 and a beta of 0.68. The company's fifty day moving average is $124.70 and its two-hundred day moving average is $119.51. 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 52 week low of $102.17 and a 52 week 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.