Assetmark Inc. Purchases 381 Shares of DTE Energy (NYSE:DTE)

Assetmark Inc. increased its stake in DTE Energy (NYSE:DTE) by 12.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,535 shares of the utilities provider’s stock after acquiring an additional 381 shares during the quarter. Assetmark Inc.’s holdings in DTE Energy were worth $427,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in DTE. Van ECK Associates Corp bought a new stake in DTE Energy during the third quarter worth $268,000. Atria Investments Inc raised its stake in shares of DTE Energy by 23.9% in the third quarter. Atria Investments Inc now owns 11,060 shares of the utilities provider’s stock valued at $1,420,000 after buying an additional 2,137 shares during the period. Ashton Thomas Securities LLC bought a new position in DTE Energy in the 3rd quarter worth approximately $35,000. Harbour Investments Inc. grew its position in shares of DTE Energy by 65.3% in the third quarter. Harbour Investments Inc. now owns 3,835 shares of the utilities provider’s stock valued at $492,000 after purchasing an additional 1,515 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in shares of DTE Energy by 4.8% during the third quarter. Oppenheimer Asset Management Inc. now owns 5,747 shares of the utilities provider’s stock valued at $738,000 after buying an additional 262 shares during the period. Institutional investors own 76.06% of the company’s stock.

DTE Energy Trading Down 0.6 %

Shares of NYSE:DTE opened at $131.19 on Thursday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46. DTE Energy has a 1 year low of $103.06 and a 1 year high of $136.28. The company has a market cap of $27.19 billion, a P/E ratio of 19.38, a PEG ratio of 2.41 and a beta of 0.59. The stock’s fifty day moving average price is $125.27 and its 200-day moving average price is $124.34.

DTE Energy (NYSE:DTE) last posted its earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.01. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. Sell-side analysts expect that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be issued a $1.09 dividend. This represents a $4.36 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s dividend payout ratio is currently 64.40%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DTE. UBS Group upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $129.00 to $143.00 in a research report on Tuesday, December 3rd. Barclays cut DTE Energy from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $137.00 to $135.00 in a research note on Thursday, February 20th. Scotiabank upped their target price on DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a report on Thursday, December 12th. Morgan Stanley reduced their price target on DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Finally, Guggenheim upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, DTE Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.67.

Insiders Place Their Bets

In other news, CAO Tracy J. Myrick sold 1,014 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total value of $131,738.88. Following the transaction, the chief accounting officer now owns 3,437 shares in the company, valued at $446,535.04. This represents a 22.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Joann Chavez sold 7,062 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $132.40, for a total transaction of $935,008.80. Following the completion of the transaction, the senior vice president now directly owns 14,067 shares in the company, valued at approximately $1,862,470.80. The trade was a 33.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,877 shares of company stock valued at $1,559,205. Company insiders own 0.28% of the company’s stock.

DTE Energy Company Profile

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.