Diversified Portfolios Inc. Invests $241,000 in DTE Energy (NYSE:DTE)

Diversified Portfolios Inc. bought a new position in shares of DTE Energy (NYSE:DTE) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 1,878 shares of the utilities provider’s stock, valued at approximately $241,000.

Other institutional investors have also recently added to or reduced their stakes in the company. ESL Trust Services LLC acquired a new stake in DTE Energy during the first quarter worth approximately $27,000. Ridgewood Investments LLC acquired a new stake in DTE Energy during the 2nd quarter worth $31,000. Ashton Thomas Securities LLC purchased a new stake in DTE Energy in the third quarter valued at $35,000. Fairscale Capital LLC acquired a new position in DTE Energy in the second quarter valued at $54,000. Finally, Chilton Capital Management LLC purchased a new position in shares of DTE Energy during the second quarter worth about $56,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Price Performance

Shares of NYSE:DTE opened at $119.37 on Friday. DTE Energy has a 52 week low of $101.25 and a 52 week high of $131.66. The company has a 50-day moving average price of $125.05 and a 200 day moving average price of $119.18. The company has a market cap of $24.72 billion, a P/E ratio of 16.17, a PEG ratio of 2.19 and a beta of 0.68. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.76.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wells Fargo & Company upped their target price on DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Mizuho increased their price objective on DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. BMO Capital Markets lifted their target price on shares of DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a report on Friday, October 18th. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, Jefferies Financial Group initiated coverage on shares of DTE Energy in a research report on Monday, October 21st. They set a “hold” rating and a $137.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $131.46.

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.