Independent Advisor Alliance Sells 1,831 Shares of DTE Energy (NYSE:DTE)

Independent Advisor Alliance lessened its stake in shares of DTE Energy (NYSE:DTE) by 17.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,392 shares of the utilities provider’s stock after selling 1,831 shares during the quarter. Independent Advisor Alliance’s holdings in DTE Energy were worth $1,078,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Ridgewood Investments LLC acquired a new stake in shares of DTE Energy during the 2nd quarter valued at $31,000. Ashton Thomas Securities LLC bought a new position in DTE Energy in the third quarter valued at about $35,000. Prospera Private Wealth LLC acquired a new stake in shares of DTE Energy during the third quarter valued at about $35,000. Coastline Trust Co acquired a new stake in shares of DTE Energy during the third quarter valued at about $39,000. Finally, Fairscale Capital LLC bought a new stake in shares of DTE Energy during the second quarter worth about $54,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on DTE shares. Mizuho raised their price objective on shares of DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Bank of America lifted their price target on shares of DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. LADENBURG THALM/SH SH started coverage on DTE Energy in a report on Wednesday, August 14th. They issued a “buy” rating and a $131.00 price objective for the company. Jefferies Financial Group initiated coverage on DTE Energy in a report on Monday, October 21st. They set a “hold” rating and a $137.00 target price on the stock. Finally, Barclays increased 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. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $131.46.

DTE Energy Trading Up 0.2 %

Shares of DTE stock opened at $125.44 on Wednesday. DTE Energy has a fifty-two week low of $102.17 and a fifty-two week 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 50 day simple moving average of $124.63 and a two-hundred day simple moving average of $119.83. The company has a market cap of $25.98 billion, a P/E ratio of 17.00, a PEG ratio of 2.30 and a beta of 0.68.

DTE Energy 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.