DTE Energy (NYSE:DTE) Short Interest Update

DTE Energy (NYSE:DTE) was the target of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 2,570,000 shares, a growth of 16.3% from the October 31st total of 2,210,000 shares. Based on an average trading volume of 1,240,000 shares, the days-to-cover ratio is currently 2.1 days.

DTE Energy Stock Performance

Shares of NYSE:DTE traded down $0.65 on Tuesday, hitting $122.95. 1,207,389 shares of the company were exchanged, compared to its average volume of 1,121,949. The company’s 50 day moving average price is $124.63 and its two-hundred day moving average price is $120.15. The firm has a market capitalization of $25.46 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 2.28 and a beta of 0.68. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.62 and a current ratio of 0.83. DTE Energy has a one year low of $102.17 and a one year high of $131.66.

DTE Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be paid a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.55%. This is a positive change from DTE Energy’s previous quarterly dividend of $1.02. DTE Energy’s dividend payout ratio is presently 55.28%.

Institutional Investors Weigh In On DTE Energy

Several institutional investors and hedge funds have recently bought and sold shares of DTE. Tidal Investments LLC increased its holdings in shares of DTE Energy by 9.2% during the first quarter. Tidal Investments LLC now owns 4,807 shares of the utilities provider’s stock worth $539,000 after buying an additional 405 shares in the last quarter. Cetera Investment Advisers lifted its stake in shares of DTE Energy by 242.0% in the 1st quarter. Cetera Investment Advisers now owns 29,306 shares of the utilities provider’s stock valued at $3,286,000 after purchasing an additional 20,737 shares during the period. Cetera Advisors LLC acquired a new stake in shares of DTE Energy during the first quarter worth $708,000. DekaBank Deutsche Girozentrale boosted its holdings in DTE Energy by 7.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 35,498 shares of the utilities provider’s stock worth $3,911,000 after buying an additional 2,432 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of DTE Energy by 661.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,035 shares of the utilities provider’s stock worth $114,000 after buying an additional 899 shares during the period. Institutional investors own 76.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. BMO Capital Markets boosted their target price on shares of DTE Energy from $135.00 to $140.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Jefferies Financial Group started coverage on DTE Energy in a report on Monday, October 21st. They issued a “hold” rating and a $137.00 price target on the stock. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $129.00 to $143.00 in a report on Tuesday. Finally, LADENBURG THALM/SH SH began coverage on DTE Energy in a report on Wednesday, August 14th. They set a “buy” rating and a $131.00 target price for the company. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, DTE Energy has an average rating of “Moderate Buy” and a consensus price target of $132.29.

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.