Forsta AP Fonden Increases Stock Holdings in DTE Energy (NYSE:DTE)

Forsta AP Fonden increased its position in shares of DTE Energy (NYSE:DTE - Free Report) by 8.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 59,300 shares of the utilities provider's stock after buying an additional 4,700 shares during the period. Forsta AP Fonden's holdings in DTE Energy were worth $7,615,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in DTE. Wealthcare Advisory Partners LLC purchased a new stake in shares of DTE Energy during the first quarter worth approximately $225,000. Wealth Enhancement Advisory Services LLC increased its stake in DTE Energy by 15.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,990 shares of the utilities provider's stock valued at $1,569,000 after purchasing an additional 1,911 shares during the last quarter. Denali Advisors LLC purchased a new position in DTE Energy in the first quarter valued at approximately $34,000. First Trust Direct Indexing L.P. increased its stake in DTE Energy by 8.2% in the first quarter. First Trust Direct Indexing L.P. now owns 6,949 shares of the utilities provider's stock valued at $779,000 after purchasing an additional 529 shares during the last quarter. Finally, Retirement Guys Formula LLC increased its stake in DTE Energy by 194.6% in the first quarter. Retirement Guys Formula LLC now owns 8,299 shares of the utilities provider's stock valued at $931,000 after purchasing an additional 5,482 shares during the last quarter. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

DTE Energy Stock Performance

Shares of NYSE DTE traded down $2.70 during mid-day trading on Tuesday, hitting $123.93. 823,271 shares of the company were exchanged, compared to its average volume of 1,074,079. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 1.73. The stock has a 50 day simple moving average of $125.84 and a 200-day simple moving average of $118.15. DTE Energy has a 1-year low of $92.58 and a 1-year high of $131.66. The firm has a market cap of $25.65 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 2.29 and a beta of 0.67.

Wall Street Analyst Weigh In

Several brokerages have commented on DTE. StockNews.com lowered shares of DTE Energy from a "hold" rating to a "sell" rating in a research note on Monday. LADENBURG THALM/SH SH began coverage on shares of DTE Energy in a research note on Wednesday, August 14th. They issued a "buy" rating and a $131.00 price target on the stock. Scotiabank increased their price target on shares of DTE Energy from $120.00 to $137.00 and gave the company a "sector outperform" rating in a research note on Tuesday, August 20th. BMO Capital Markets increased their price target on shares of DTE Energy from $135.00 to $140.00 and gave the company a "market perform" rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company increased their price target on shares of DTE Energy from $133.00 to $145.00 and gave the company an "overweight" rating in a research note on Friday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, DTE Energy presently has an average rating of "Moderate Buy" and an average price target of $131.46.

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.