Westpac Banking Corp Cuts Stake in DTE Energy (NYSE:DTE)

Westpac Banking Corp decreased its holdings in DTE Energy (NYSE:DTE) by 95.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,189 shares of the utilities provider’s stock after selling 23,478 shares during the quarter. Westpac Banking Corp’s holdings in DTE Energy were worth $131,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Ameritas Advisory Services LLC purchased a new position in DTE Energy in the first quarter valued at approximately $26,000. Caldwell Sutter Capital Inc. raised its holdings in DTE Energy by 60.6% in the second quarter. Caldwell Sutter Capital Inc. now owns 265 shares of the utilities provider’s stock valued at $29,000 after buying an additional 100 shares during the period. Mcmillion Capital Management Inc. purchased a new position in DTE Energy in the second quarter valued at approximately $29,000. Newbridge Financial Services Group Inc. purchased a new position in DTE Energy in the second quarter valued at approximately $39,000. Finally, Milestone Investment Advisors LLC purchased a new position in DTE Energy in the first quarter valued at approximately $40,000. Hedge funds and other institutional investors own 74.72% of the company’s stock.

DTE Energy Stock Performance

DTE Energy stock opened at $103.60 on Monday. The company has a market cap of $21.37 billion, a PE ratio of 17.12, a P/E/G ratio of 2.95 and a beta of 0.64. The company has a fifty day moving average price of $99.88 and a two-hundred day moving average price of $106.13. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.85 and a quick ratio of 0.57. DTE Energy has a 12 month low of $90.14 and a 12 month high of $122.40.

DTE Energy (NYSE:DTE) last released its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.23). The business had revenue of $2.89 billion during the quarter, compared to analyst estimates of $3.96 billion. DTE Energy had a return on equity of 9.85% and a net margin of 8.99%. During the same period in the prior year, the firm earned $1.60 EPS. Research analysts expect that DTE Energy will post 5.77 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on DTE. Morgan Stanley cut their price target on shares of DTE Energy from $118.00 to $111.00 and set an “overweight” rating on the stock in a report on Wednesday, October 25th. TheStreet lowered shares of DTE Energy from a “b-” rating to a “c+” rating in a research note on Friday, October 20th. Guggenheim dropped their price objective on shares of DTE Energy from $110.00 to $103.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. StockNews.com lowered shares of DTE Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. Finally, Barclays initiated coverage on shares of DTE Energy in a research note on Wednesday, August 23rd. They set an “overweight” rating and a $117.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, DTE Energy has an average rating of “Moderate Buy” and an average price target of $80.21.

About DTE Energy

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.3 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.