Short Interest in DTE Energy (NYSE:DTE) Increases By 23.8%

DTE Energy (NYSE:DTE) was the target of a large growth in short interest in December. As of December 15th, there was short interest totalling 2,910,000 shares, a growth of 23.8% from the November 30th total of 2,350,000 shares. Based on an average daily trading volume, of 1,300,000 shares, the short-interest ratio is currently 2.2 days.

Institutional Investors Weigh In On DTE Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in DTE. Principal Financial Group Inc. increased its stake in shares of DTE Energy by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 261,357 shares of the utilities provider’s stock valued at $33,561,000 after purchasing an additional 13,953 shares in the last quarter. Tidal Investments LLC grew its holdings in DTE Energy by 4.0% in the third quarter. Tidal Investments LLC now owns 2,490 shares of the utilities provider’s stock valued at $320,000 after purchasing an additional 96 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of DTE Energy in the third quarter valued at approximately $155,000. Arvest Bank Trust Division acquired a new position in shares of DTE Energy during the 3rd quarter worth approximately $10,338,000. Finally, World Investment Advisors LLC acquired a new stake in DTE Energy in the 3rd quarter valued at $269,000. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Stock Performance

DTE traded down $0.27 during midday trading on Tuesday, hitting $120.28. 134,859 shares of the company were exchanged, compared to its average volume of 1,133,841. The company’s 50 day simple moving average is $122.35 and its 200 day simple moving average is $121.07. The firm has a market capitalization of $24.91 billion, a price-to-earnings ratio of 16.30, a price-to-earnings-growth ratio of 2.23 and a beta of 0.68. DTE Energy has a 1-year low of $102.17 and a 1-year high of $131.66. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 1.76.

DTE Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be given a dividend of $1.09 per share. This is a boost from DTE Energy’s previous quarterly dividend of $1.02. This represents a $4.36 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend is Monday, December 16th. DTE Energy’s dividend payout ratio (DPR) is currently 59.08%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on DTE. Morgan Stanley lowered their target price on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. BMO Capital Markets increased their price objective on DTE Energy from $135.00 to $140.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Barclays upped their target price on DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Jefferies Financial Group assumed coverage on DTE Energy in a report on Monday, October 21st. They issued a “hold” rating and a $137.00 price objective for the company. Finally, KeyCorp cut shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.31.

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.