California Public Employees Retirement System Sells 7,900 Shares of DTE Energy Company (DTE)

California Public Employees Retirement System lessened its stake in DTE Energy Company (NYSE:DTE) by 1.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 439,816 shares of the utilities provider’s stock after selling 7,900 shares during the period. California Public Employees Retirement System owned about 0.25% of DTE Energy worth $46,528,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DTE. Pacad Investment Ltd. bought a new stake in shares of DTE Energy in the 2nd quarter valued at about $106,000. Gradient Investments LLC increased its holdings in DTE Energy by 0.3% during the 2nd quarter. Gradient Investments LLC now owns 1,048 shares of the utilities provider’s stock valued at $111,000 after purchasing an additional 3 shares during the period. Vantage Investment Advisors LLC increased its holdings in DTE Energy by 0.8% during the 2nd quarter. Vantage Investment Advisors LLC now owns 1,323 shares of the utilities provider’s stock valued at $140,000 after purchasing an additional 10 shares during the period. Tortoise Capital Advisors L.L.C. increased its holdings in DTE Energy by 335.1% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 1,340 shares of the utilities provider’s stock valued at $142,000 after purchasing an additional 1,032 shares during the period. Finally, Van ECK Associates Corp increased its holdings in DTE Energy by 18.0% during the 1st quarter. Van ECK Associates Corp now owns 1,551 shares of the utilities provider’s stock valued at $158,000 after purchasing an additional 237 shares during the period. 68.58% of the stock is owned by institutional investors.

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DTE Energy Company (NYSE DTE) opened at 108.38 on Friday. The stock has a market cap of $19.44 billion, a P/E ratio of 18.66 and a beta of 0.22. DTE Energy Company has a 12-month low of $89.66 and a 12-month high of $113.71. The firm’s 50 day moving average price is $110.59 and its 200-day moving average price is $106.68.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.08. DTE Energy had a net margin of 8.80% and a return on equity of 10.67%. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the firm posted $0.98 earnings per share. The company’s revenue was up 26.2% on a year-over-year basis. Equities research analysts anticipate that DTE Energy Company will post $5.42 earnings per share for the current fiscal year.

In other news, insider Mark W. Stiers sold 3,632 shares of DTE Energy stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $110.03, for a total transaction of $399,628.96. Following the completion of the sale, the insider now owns 25,257 shares of the company’s stock, valued at $2,779,027.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Larry E. Steward sold 9,999 shares of DTE Energy stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $107.52, for a total transaction of $1,075,092.48. Following the sale, the insider now directly owns 39,698 shares of the company’s stock, valued at approximately $4,268,328.96. The disclosure for this sale can be found here. Insiders have sold 25,631 shares of company stock valued at $2,756,681 in the last ninety days. Insiders own 0.53% of the company’s stock.

A number of research analysts recently issued reports on DTE shares. BidaskClub downgraded DTE Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. Jefferies Group LLC restated a “buy” rating and set a $121.00 price target on shares of DTE Energy in a report on Tuesday, August 29th. KeyCorp restated a “buy” rating and set a $113.00 price target on shares of DTE Energy in a report on Sunday, August 27th. Zacks Investment Research downgraded DTE Energy from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, BMO Capital Markets restated a “hold” rating and set a $111.00 price target on shares of DTE Energy in a report on Friday, July 28th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. DTE Energy presently has an average rating of “Buy” and an average price target of $109.20.

About DTE Energy

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Institutional Ownership by Quarter for DTE Energy (NYSE:DTE)

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