Assetmark Inc. Acquires 301 Shares of DTE Energy (NYSE:DTE)

Assetmark Inc. grew its holdings in shares of DTE Energy (NYSE:DTE) by 10.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,154 shares of the utilities provider’s stock after acquiring an additional 301 shares during the period. Assetmark Inc.’s holdings in DTE Energy were worth $405,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of DTE. Ridgewood Investments LLC bought a new stake in DTE Energy in the second quarter valued at approximately $31,000. Fairscale Capital LLC bought a new stake in shares of DTE Energy in the 2nd quarter valued at $54,000. Chilton Capital Management LLC acquired a new stake in shares of DTE Energy during the second quarter worth $56,000. Crewe Advisors LLC bought a new position in DTE Energy during the first quarter worth $57,000. Finally, Carmichael Hill & Associates Inc. lifted its holdings in DTE Energy by 47.5% in the third quarter. Carmichael Hill & Associates Inc. now owns 497 shares of the utilities provider’s stock valued at $64,000 after buying an additional 160 shares during the period. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Stock Performance

Shares of DTE opened at $120.09 on Friday. The firm has a market capitalization of $24.87 billion, a P/E ratio of 16.27, a P/E/G ratio of 2.19 and a beta of 0.68. DTE Energy has a 52 week low of $101.44 and a 52 week high of $131.66. The stock has a 50 day moving average price of $124.90 and a two-hundred day moving average price of $119.25. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.62 and a current ratio of 0.83.

Analyst Ratings Changes

A number of analysts have weighed in on DTE shares. Wells Fargo & Company increased their price target on DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Barclays raised their target price on DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Scotiabank boosted their price target on DTE Energy from $120.00 to $137.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Morgan Stanley increased their price target on DTE Energy from $121.00 to $128.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Finally, Jefferies Financial Group initiated coverage on shares of DTE Energy in a research note on Monday, October 21st. They issued a “hold” rating and a $137.00 price objective for the company. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $131.46.

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.