Laurel Wealth Advisors LLC significantly increased its investment in DTE Energy Company (NYSE:DTE) by an astonishing 13,146.2% during the second quarter, according to a recent filing with the Securities and Exchange Commission (SEC). The institutional investor now holds 25,830 shares of the utility’s stock, valued at approximately $3.42 million following the acquisition of an additional 25,635 shares within the quarter.
Other notable investments in DTE Energy also surfaced. For instance, Dynamic Technology Lab Private Ltd entered a new position during the first quarter, valued at around $567,000. Additionally, Nordea Investment Management AB expanded its stake by 5.3% in the second quarter, bringing its total ownership to 208,818 shares worth about $27.47 million after acquiring 10,586 more shares. Goldman Sachs Group Inc. made a remarkable increase of 65.3% in its holding during the first quarter, owning now 1,612,925 shares valued at approximately $223.02 million. Focus Partners Wealth also augmented its investment by 3.6%, and USA Financial Formulas added a new stake valued at $912,000 in the second quarter. Currently, institutional investors own 76.06% of DTE Energy’s stock.
On the front of analyst assessments, several firms revised their ratings for DTE Energy shares recently. Wells Fargo & Company upgraded the stock to a “strong-buy” rating as of October 28, and Morgan Stanley set a price target of $144.00 on it. Meanwhile, Scotiabank lowered its target price slightly from $147.00 to $146.00 while maintaining a “sector perform” rating. Weiss Ratings kept a “buy (b-)” rating on the stock, and UBS Group raised its price target from $148.00 to $158.00, continuing to endorse a “buy” rating. Analysis shows one research analyst rates the company as a Strong Buy, seven analysts assigned Buy ratings, while six others suggested a Hold rating. The overall consensus stands at a “Moderate Buy” with a price target averaging $149.17.
For its part, DTE Energy’s latest performance has been commendable. On October 30, the company reported quarterly earnings of $2.25 per share, surpassing analysts’ expectations of $2.10 by 15 cents. The firm achieved revenues of $3.53 billion for the quarter, which was above the anticipated $3.23 billion. Last year during the same period, the earnings recorded were $2.22 per share. DTE Energy has also set forward-looking earnings guidance for FY 2025 at $7.090 to $7.230 per share and for FY 2026 at $7.590 to $7.730 per share. Analysts project an overall EPS of 7.18 for the current year.
DTE Energy operates as a utility service, generating and distributing electricity from various sources, including coal, hydroelectric, nuclear, wind, and solar facilities, catering to residential, commercial, and industrial markets primarily in southeastern Michigan. The company’s strong financial performance and strategic investments from institutional investors indicate a robust outlook.