Cadence Bank Sells 324 Shares of DTE Energy (NYSE:DTE)

Cadence Bank decreased its position in DTE Energy (NYSE:DTE) by 3.2% in the third quarter, Holdings Channel reports. The firm owned 9,746 shares of the utilities provider’s stock after selling 324 shares during the period. Cadence Bank’s holdings in DTE Energy were worth $1,251,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its holdings in shares of DTE Energy by 2.3% in the third quarter. Farther Finance Advisors LLC now owns 3,588 shares of the utilities provider’s stock valued at $461,000 after purchasing an additional 81 shares during the period. Signaturefd LLC lifted its holdings in DTE Energy by 3.1% during the third quarter. Signaturefd LLC now owns 2,889 shares of the utilities provider’s stock worth $371,000 after buying an additional 86 shares during the period. Aptus Capital Advisors LLC lifted its holdings in DTE Energy by 3.7% during the second quarter. Aptus Capital Advisors LLC now owns 2,632 shares of the utilities provider’s stock worth $292,000 after buying an additional 94 shares during the period. ASB Consultores LLC lifted its holdings in DTE Energy by 4.9% during the second quarter. ASB Consultores LLC now owns 2,179 shares of the utilities provider’s stock worth $242,000 after buying an additional 101 shares during the period. Finally, S.A. Mason LLC lifted its holdings in DTE Energy by 10.5% during the second quarter. S.A. Mason LLC now owns 1,120 shares of the utilities provider’s stock worth $124,000 after buying an additional 106 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on DTE shares. Bank of America upped their target price on DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Wells Fargo & Company upped their target price on DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Jefferies Financial Group started coverage on DTE Energy in a report on Monday, October 21st. They set a “hold” rating and a $137.00 target price for the company. Scotiabank upped their target price on DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Finally, KeyCorp upped their target price on DTE Energy from $136.00 to $138.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $131.46.

DTE Energy Stock Performance

Shares of DTE stock opened at $126.08 on Thursday. The firm has a market capitalization of $26.11 billion, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 2.31 and a beta of 0.68. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62. The business has a fifty day moving average of $124.66 and a 200 day moving average of $119.88. DTE Energy has a 1 year low of $102.17 and a 1 year high of $131.66.

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.