Spirit of America Management Corp NY Has $1.03 Million Position in DTE Energy (NYSE:DTE)

Spirit of America Management Corp NY boosted its position in shares of DTE Energy (NYSE:DTE) by 9.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,050 shares of the utilities provider’s stock after buying an additional 700 shares during the quarter. Spirit of America Management Corp NY’s holdings in DTE Energy were worth $1,034,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of DTE. ESL Trust Services LLC bought a new position in DTE Energy in the first quarter valued at about $27,000. Ridgewood Investments LLC acquired a new stake in shares of DTE Energy during the 2nd quarter worth approximately $31,000. Denali Advisors LLC acquired a new stake in shares of DTE Energy during the 1st quarter worth approximately $34,000. Salomon & Ludwin LLC lifted its holdings in 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 period. Finally, Fairscale Capital LLC bought a new position in DTE Energy in the second quarter valued at approximately $54,000. 76.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Jefferies Financial Group started coverage on DTE Energy in a report on Monday. They issued a “hold” rating and a $137.00 price objective for the company. Mizuho increased their target price on DTE Energy from $121.00 to $133.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Bank of America upped their target price on shares of DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Barclays lifted their price target on DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, Wells Fargo & Company upped their price objective on DTE Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, DTE Energy presently has an average rating of “Moderate Buy” and an average target price of $130.54.

DTE Energy Price Performance

Shares of NYSE DTE opened at $129.74 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 1.73. The business’s 50 day moving average price is $125.52 and its two-hundred day moving average price is $117.67. The company has a market cap of $26.85 billion, a PE ratio of 21.23, a price-to-earnings-growth ratio of 2.29 and a beta of 0.67. DTE Energy has a twelve month low of $92.58 and a twelve month high of $131.66.

DTE Energy (NYSE:DTE) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.22. The firm had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.65 billion. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. During the same period in the previous year, the business posted $0.99 earnings per share. On average, analysts predict that DTE Energy will post 6.7 EPS for the current year.

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.