State of Alaska Department of Revenue Sells 6,055 Shares of DTE Energy (NYSE:DTE)

State of Alaska Department of Revenue trimmed its holdings in DTE Energy (NYSE:DTE - Free Report) by 16.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,667 shares of the utilities provider's stock after selling 6,055 shares during the period. State of Alaska Department of Revenue's holdings in DTE Energy were worth $3,937,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. ESL Trust Services LLC bought a new stake in shares of DTE Energy in the 1st quarter worth about $27,000. Ridgewood Investments LLC bought a new stake in shares of DTE Energy during the 2nd quarter worth approximately $31,000. Denali Advisors LLC acquired a new position in shares of DTE Energy during the 1st quarter worth approximately $34,000. Salomon & Ludwin LLC grew its position in DTE Energy by 82.3% during the first quarter. Salomon & Ludwin LLC now owns 432 shares of the utilities provider's stock worth $48,000 after buying an additional 195 shares in the last quarter. Finally, Fairscale Capital LLC acquired a new position in DTE Energy during the second quarter valued at approximately $54,000. Institutional investors and hedge funds own 76.06% of the company's stock.

DTE Energy Price Performance

DTE traded up $0.07 on Thursday, hitting $124.21. 900,616 shares of the company were exchanged, compared to its average volume of 1,072,920. DTE Energy has a fifty-two week low of $92.58 and a fifty-two week high of $131.66. 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 business's fifty day moving average is $125.87 and its 200 day moving average is $118.31. The firm has a market capitalization of $25.72 billion, a P/E ratio of 16.90, a price-to-earnings-growth ratio of 2.29 and a beta of 0.67.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on DTE shares. Jefferies Financial Group initiated coverage on shares of DTE Energy in a research report on Monday, October 21st. They set a "hold" rating and a $137.00 target price on the stock. Mizuho boosted their price objective on DTE Energy from $121.00 to $133.00 and gave the stock an "outperform" rating in a report on Tuesday, September 10th. Bank of America lifted their price objective on DTE Energy from $131.00 to $136.00 and gave the stock a "buy" rating in a report on Thursday, August 29th. Morgan Stanley raised their target price on shares of DTE Energy from $121.00 to $128.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 25th. Finally, Barclays raised their price objective on shares of DTE Energy from $128.00 to $137.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $131.46.

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.