Summit Global Investments Raises Stock Holdings in DTE Energy (NYSE:DTE)

Summit Global Investments grew its holdings in DTE Energy (NYSE:DTE - Free Report) by 580.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,375 shares of the utilities provider's stock after purchasing an additional 30,173 shares during the period. Summit Global Investments' holdings in DTE Energy were worth $4,542,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of DTE. ESL Trust Services LLC purchased a new stake in shares of DTE Energy in the 1st quarter valued at approximately $27,000. Ridgewood Investments LLC acquired a new position in DTE Energy during the second quarter worth $31,000. Fairscale Capital LLC purchased a new position in shares of DTE Energy during the second quarter worth $54,000. Chilton Capital Management LLC acquired a new stake in shares of DTE Energy in the second quarter valued at $56,000. Finally, Crewe Advisors LLC purchased a new stake in shares of DTE Energy in the 1st quarter valued at $57,000. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

DTE Energy Stock Performance

DTE Energy stock traded up $0.80 during midday trading on Friday, hitting $117.84. 1,293,759 shares of the company's stock were exchanged, compared to its average volume of 1,085,561. The firm's 50 day simple moving average is $125.71 and its 200 day simple moving average is $118.90. DTE Energy has a 12-month low of $97.43 and a 12-month high of $131.66. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.62 and a current ratio of 0.83. The stock has a market cap of $24.40 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 2.20 and a beta of 0.68.

Analysts Set New Price Targets

Several equities analysts have weighed in on DTE shares. Morgan Stanley lifted their target price on DTE Energy from $121.00 to $128.00 and gave the company an "overweight" rating in a research report on Wednesday, September 25th. StockNews.com raised shares of DTE Energy from a "sell" rating to a "hold" rating in a research note on Tuesday. KeyCorp raised their price target on shares of DTE Energy from $136.00 to $138.00 and gave the company an "overweight" rating in a research report on Tuesday, October 22nd. Wells Fargo & Company upped their price objective on DTE Energy from $133.00 to $145.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. Finally, Barclays lifted their target price on DTE Energy from $128.00 to $137.00 and gave the company an "overweight" rating in a report on Monday, October 7th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company 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.