Short Interest in DTE Energy (NYSE:DTE) Expands By 16.3%

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

DTE Energy Stock Performance

DTE traded down $0.65 on Tuesday, reaching $122.95. The company had a trading volume of 1,207,389 shares, compared to its average volume of 1,121,949. The stock has a market cap of $25.46 billion, a P/E ratio of 16.66, a P/E/G 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 fifty-two week low of $102.17 and a fifty-two week high of $131.66. The company’s fifty day moving average is $124.63 and its 200 day moving average is $120.15.

DTE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be issued a $1.09 dividend. This is a positive change from DTE Energy’s previous quarterly dividend of $1.02. This represents a $4.36 annualized dividend and a yield of 3.55%. DTE Energy’s dividend payout ratio (DPR) is 55.28%.

Hedge Funds Weigh In On DTE Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cetera Advisors LLC purchased a new position in DTE Energy in the 1st quarter valued at $708,000. Cetera Investment Advisers increased its stake in shares of DTE Energy by 242.0% during the 1st quarter. Cetera Investment Advisers now owns 29,306 shares of the utilities provider’s stock worth $3,286,000 after purchasing an additional 20,737 shares during the last quarter. Bank of Montreal Can lifted its stake in DTE Energy by 19.0% during the second quarter. Bank of Montreal Can now owns 269,031 shares of the utilities provider’s stock worth $30,220,000 after purchasing an additional 42,960 shares during the period. Hancock Whitney Corp boosted its holdings in DTE Energy by 80.0% in the third quarter. Hancock Whitney Corp now owns 12,885 shares of the utilities provider’s stock valued at $1,655,000 after acquiring an additional 5,725 shares during the last quarter. Finally, Blueshift Asset Management LLC acquired a new stake in shares of DTE Energy during the third quarter worth $583,000. 76.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DTE. Barclays raised their price objective on DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. LADENBURG THALM/SH SH began coverage on shares of DTE Energy in a report on Wednesday, August 14th. They issued a “buy” rating and a $131.00 target price for the company. Wells Fargo & Company increased their price objective on shares of DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. KeyCorp boosted their price objective on DTE Energy from $136.00 to $138.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Finally, Morgan Stanley cut their price objective on DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $132.29.

About DTE Energy

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.