abrdn plc Buys 20,524 Shares of DTE Energy (NYSE:DTE)

abrdn plc raised its stake in shares of DTE Energy (NYSE:DTE - Free Report) by 36.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 76,361 shares of the utilities provider's stock after acquiring an additional 20,524 shares during the quarter. abrdn plc's holdings in DTE Energy were worth $9,777,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DTE. ESL Trust Services LLC bought a new position in shares of DTE Energy in the first quarter valued at about $27,000. Ridgewood Investments LLC bought a new position in shares of DTE Energy in the second quarter valued at about $31,000. Salomon & Ludwin LLC raised its holdings in shares of DTE Energy by 82.3% in the first quarter. Salomon & Ludwin LLC now owns 432 shares of the utilities provider's stock valued at $48,000 after buying an additional 195 shares during the last quarter. Fairscale Capital LLC bought a new position in shares of DTE Energy in the second quarter valued at about $54,000. Finally, Chilton Capital Management LLC bought a new position in shares of DTE Energy in the second quarter valued at about $56,000. 76.06% of the stock is owned by institutional investors.

DTE Energy Trading Down 2.4 %

Shares of DTE Energy stock traded down $2.93 during trading on Friday, hitting $121.29. 992,514 shares of the company were exchanged, compared to its average volume of 1,052,246. The firm has a market capitalization of $25.12 billion, a P/E ratio of 16.43, a price-to-earnings-growth ratio of 2.25 and a beta of 0.68. DTE Energy has a 1-year low of $96.45 and a 1-year high of $131.66. The firm's fifty day moving average price is $125.84 and its 200 day moving average price is $118.67. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on DTE. Mizuho lifted their price target on DTE Energy from $121.00 to $133.00 and gave the company an "outperform" rating in a report on Tuesday, September 10th. Morgan Stanley boosted their price objective on DTE Energy from $121.00 to $128.00 and gave the stock an "overweight" rating in a report on Wednesday, September 25th. Scotiabank boosted their price objective on DTE Energy from $120.00 to $137.00 and gave the stock a "sector outperform" rating in a report on Tuesday, August 20th. KeyCorp boosted their price objective on DTE Energy from $136.00 to $138.00 and gave the stock an "overweight" rating in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group initiated coverage on DTE Energy in a report on Monday, October 21st. They set a "hold" rating and a $137.00 price objective for the company. One investment 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. According to MarketBeat.com, the stock 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.