Is DTE Energy Co (DTE) Worthy of Your Portfolio?

Now, key money managers were leading the bulls’ herd. Israel Englander’s Millennium Management created the biggest position in DTE Energy Co (NYSE:DTE). Millennium Management had $42.6 million invested in the company at the end of the quarter. Clint Carlson’s Carlson Capital also initiated a $25.4 million position during the quarter. The other funds with new positions in the stock are Matthew Tewksbury’s Stevens Capital Management, Benjamin A. Smith’s Laurion Capital Management, and Paul Marshall and Ian Wace’s Marshall Wace LLP.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as DTE Energy Co (NYSE:DTE) but similarly valued. These stocks are The J.M. Smucker Company (NYSE:SJM), Sasol Limited (ADR) (NYSE:SSL), Tata Motors Limited (ADR) (NYSE:TTM), and Amphenol Corporation (NYSE:APH). This group of stocks’ market valuations are closest to DTE’s market valuation.

As you can see these stocks had an average of 19 funds with bullish positions and the average amount invested in these stocks was $400 million. That figure was $534 million in DTE’s case. The J.M. Smucker Company (NYSE:SJM) is the most popular stock in this table. On the other hand Sasol Limited (ADR) (NYSE:SSL) is the least popular one with only nine hedge fund having reported long positions. DTE Energy Co (NYSE:DTE) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard The J.M. Smucker Company (NYSE:SJM) might be a better candidate to consider taking a long position in.