Sumitomo Mitsui Trust Group Inc. Has $59.16 Million Position in DTE Energy (NYSE:DTE)

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of DTE Energy (NYSE:DTE) by 0.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 460,686 shares of the utilities provider’s stock after selling 1,922 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in DTE Energy were worth $59,157,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. ESL Trust Services LLC bought a new position in DTE Energy in the 1st quarter valued at approximately $27,000. Ashton Thomas Securities LLC acquired a new position in DTE Energy in the 3rd quarter valued at approximately $35,000. Ridgewood Investments LLC acquired a new position in DTE Energy in the 2nd quarter valued at approximately $31,000. Fairscale Capital LLC acquired a new position in shares of DTE Energy during the second quarter worth $54,000. Finally, Carmichael Hill & Associates Inc. grew its stake in shares of DTE Energy by 47.5% in the third quarter. Carmichael Hill & Associates Inc. now owns 497 shares of the utilities provider’s stock worth $64,000 after purchasing an additional 160 shares during the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Trading Up 0.6 %

DTE opened at $119.37 on Friday. The company has a market cap of $24.72 billion, a P/E ratio of 16.17, a price-to-earnings-growth ratio of 2.17 and a beta of 0.68. The company has a fifty day moving average price of $125.05 and a two-hundred day moving average price of $119.18. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 1.76. DTE Energy has a 1-year low of $101.25 and a 1-year high of $131.66.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DTE. Jefferies Financial Group assumed coverage on DTE Energy in a research report on Monday, October 21st. They set a “hold” rating and a $137.00 target price for the company. Scotiabank lifted their price objective on DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th. KeyCorp boosted their price target on shares of DTE Energy from $136.00 to $138.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Finally, Bank of America upped their price objective on shares of DTE Energy from $131.00 to $136.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, DTE Energy presently has an average rating of “Moderate Buy” and a consensus price target of $131.46.

DTE Energy Company 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.