Russell Investments Group Ltd. trimmed its stake in shares of DTE Energy Co (NYSE:DTE) by 22.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 160,550 shares of the utilities provider’s stock after selling 47,106 shares during the quarter. Russell Investments Group Ltd.’s holdings in DTE Energy were worth $17,454,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of DTE. Cornerstone Wealth Management LLC acquired a new stake in DTE Energy during the 3rd quarter worth approximately $1,501,000. Canada Pension Plan Investment Board lifted its position in DTE Energy by 203.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 213,110 shares of the utilities provider’s stock worth $22,085,000 after acquiring an additional 142,800 shares during the period. Legal & General Group Plc lifted its position in DTE Energy by 8.7% during the 2nd quarter. Legal & General Group Plc now owns 1,744,677 shares of the utilities provider’s stock worth $180,833,000 after acquiring an additional 139,879 shares during the period. Bank of Montreal Can lifted its position in DTE Energy by 41.3% during the 3rd quarter. Bank of Montreal Can now owns 301,926 shares of the utilities provider’s stock worth $32,950,000 after acquiring an additional 88,258 shares during the period. Finally, Northern Trust Corp lifted its position in DTE Energy by 4.2% during the 2nd quarter. Northern Trust Corp now owns 2,205,903 shares of the utilities provider’s stock worth $228,598,000 after acquiring an additional 88,227 shares during the period. 71.13% of the stock is owned by institutional investors.
DTE opened at $116.38 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.47 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $20.89 billion, a PE ratio of 20.82, a price-to-earnings-growth ratio of 3.04 and a beta of 0.04. DTE Energy Co has a 12 month low of $94.25 and a 12 month high of $118.22.
A number of research firms have weighed in on DTE. Wolfe Research cut DTE Energy from an “outperform” rating to a “hold” rating in a research report on Friday, October 26th. Wells Fargo & Co increased their price objective on DTE Energy from $118.00 to $120.00 and gave the stock a “market perform” rating in a research report on Thursday, October 25th. Bank of America increased their price objective on DTE Energy from $101.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, October 25th. Credit Suisse Group cut DTE Energy from a “neutral” rating to an “underperform” rating and increased their price objective for the stock from $109.00 to $111.00 in a research report on Thursday, October 25th. Finally, Zacks Investment Research cut DTE Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, October 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $114.36.
WARNING: This article was originally reported by WKRB News and is owned by of WKRB News. If you are accessing this article on another publication, it was illegally copied and republished in violation of US & international copyright & trademark law. The original version of this article can be viewed at https://www.wkrb13.com/2018/11/09/russell-investments-group-ltd-sells-47106-shares-of-dte-energy-co-dte.html.
About DTE Energy
DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.2 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 other renewable assets.
Featured Article: Penny Stocks, What You Need To Know
Want to see what other hedge funds are holding DTE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DTE Energy Co (NYSE:DTE).
Receive News & Ratings for DTE Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DTE Energy and related companies with MarketBeat.com's FREE daily email newsletter.