DTE Energy (NYSE:DTE) Sees Large Growth in Short Interest

DTE Energy (NYSE:DTE) saw a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 3,210,000 shares, a growth of 8.8% from the July 15th total of 2,950,000 shares. Based on an average trading volume of 987,400 shares, the days-to-cover ratio is presently 3.3 days.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on DTE shares. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a report on Sunday, August 11th. Wells Fargo & Company lifted their price objective on DTE Energy from $125.00 to $133.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Scotiabank dropped their price objective on DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating for the company in a report on Monday, April 22nd. Barclays lifted their price objective on DTE Energy from $123.00 to $128.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, LADENBURG THALM/SH SH initiated coverage on DTE Energy in a report on Wednesday, August 14th. They issued a “buy” rating and a $131.00 price objective for the company. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, DTE Energy has an average rating of “Moderate Buy” and an average price target of $120.36.

Insider Transactions at DTE Energy

In other news, Vice Chairman Trevor F. Lauer sold 3,500 shares of DTE Energy stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $115.07, for a total transaction of $402,745.00. Following the completion of the transaction, the insider now directly owns 59,475 shares in the company, valued at approximately $6,843,788.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Vice Chairman Trevor F. Lauer sold 3,500 shares of DTE Energy stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $115.07, for a total transaction of $402,745.00. Following the completion of the sale, the insider now directly owns 59,475 shares of the company’s stock, valued at approximately $6,843,788.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Lisa A. Muschong sold 1,198 shares of DTE Energy stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $116.61, for a total value of $139,698.78. Following the sale, the vice president now directly owns 4,271 shares of the company’s stock, valued at $498,041.31. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DTE Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. ESL Trust Services LLC bought a new stake in shares of DTE Energy in the 1st quarter valued at about $27,000. Rise Advisors LLC grew its position in shares of DTE Energy by 89.6% in the 1st quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock valued at $31,000 after buying an additional 129 shares during the last quarter. Ridgewood Investments LLC bought a new stake in shares of DTE Energy in the 2nd quarter valued at about $31,000. Denali Advisors LLC bought a new stake in shares of DTE Energy in the 1st quarter valued at about $34,000. Finally, Salomon & Ludwin LLC grew its position in shares of DTE Energy by 82.3% in the 1st quarter. Salomon & Ludwin LLC now owns 432 shares of the utilities provider’s stock valued at $48,000 after buying an additional 195 shares during the last quarter. Institutional investors own 76.06% of the company’s stock.

DTE Energy Price Performance

Shares of DTE Energy stock traded up $1.40 during trading on Monday, reaching $123.29. 744,312 shares of the company’s stock were exchanged, compared to its average volume of 1,094,704. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.69. DTE Energy has a 1-year low of $90.14 and a 1-year high of $126.76. The company has a market cap of $25.51 billion, a P/E ratio of 20.18, a PEG ratio of 2.27 and a beta of 0.66. The firm’s 50-day moving average price is $115.26 and its 200 day moving average price is $112.07.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.22. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.65 billion. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. During the same quarter in the previous year, the company posted $0.99 EPS. As a group, research analysts anticipate that DTE Energy will post 6.7 earnings per share for the current year.

DTE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be given a dividend of $1.02 per share. The ex-dividend date is Monday, September 16th. This represents a $4.08 dividend on an annualized basis and a yield of 3.31%. DTE Energy’s dividend payout ratio is currently 66.78%.

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.