Adams Diversified Equity Fund Inc. Trims Stock Position in DTE Energy (NYSE:DTE)

Adams Diversified Equity Fund Inc. trimmed its holdings in DTE Energy (NYSE:DTE - Free Report) by 9.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 124,700 shares of the utilities provider's stock after selling 12,700 shares during the quarter. Adams Diversified Equity Fund Inc. owned approximately 0.06% of DTE Energy worth $16,013,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Avitas Wealth Management LLC grew its stake in DTE Energy by 1.2% in the third quarter. Avitas Wealth Management LLC now owns 23,834 shares of the utilities provider's stock worth $3,061,000 after purchasing an additional 279 shares in the last quarter. SC&H Financial Advisors Inc. bought a new position in DTE Energy in the third quarter worth approximately $208,000. abrdn plc grew its stake in DTE Energy by 36.8% in the third quarter. abrdn plc now owns 76,361 shares of the utilities provider's stock worth $9,777,000 after purchasing an additional 20,524 shares in the last quarter. Pallas Capital Advisors LLC grew its stake in DTE Energy by 2.6% in the third quarter. Pallas Capital Advisors LLC now owns 28,323 shares of the utilities provider's stock worth $3,675,000 after purchasing an additional 711 shares in the last quarter. Finally, Old Port Advisors bought a new stake in DTE Energy during the 3rd quarter valued at $219,000. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DTE has been the topic of several recent research reports. Scotiabank increased their target price on DTE Energy from $120.00 to $137.00 and gave the company a "sector outperform" rating in a research report on Tuesday, August 20th. Mizuho increased their target price on DTE Energy from $121.00 to $133.00 and gave the company an "outperform" rating in a research report on Tuesday, September 10th. Wells Fargo & Company increased their target price on DTE Energy from $133.00 to $145.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. KeyCorp raised their price objective on DTE Energy from $136.00 to $138.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 22nd. Finally, Morgan Stanley raised their price objective on DTE Energy from $121.00 to $128.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $131.46.

DTE Energy Stock Performance

DTE stock traded up $0.21 during midday trading on Wednesday, reaching $124.14. The stock had a trading volume of 1,002,653 shares, compared to its average volume of 1,073,740. The stock has a market cap of $25.69 billion, a PE ratio of 20.32, a P/E/G ratio of 2.29 and a beta of 0.67. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.69. The firm has a fifty day simple moving average of $125.87 and a two-hundred day simple moving average of $118.31. DTE Energy has a 52-week low of $92.58 and a 52-week high of $131.66.

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.