DTE Energy (NYSE:DTE) Short Interest Up 23.8% in December

DTE Energy (NYSE:DTE) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 2,910,000 shares, an increase 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 presently 2.2 days.

DTE Energy Stock Performance

Shares of NYSE DTE traded down $0.27 during midday trading on Tuesday, reaching $120.28. 134,859 shares of the company were exchanged, compared to its average volume of 1,133,841. DTE Energy has a 1 year low of $102.17 and a 1 year high of $131.66. The stock has a fifty day simple moving average of $122.35 and a 200 day simple moving average of $121.07. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 1.76. The stock has a market cap of $24.91 billion, a P/E ratio of 16.30, a PEG ratio of 2.23 and a beta of 0.68.

DTE Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be issued a $1.09 dividend. This is an increase from DTE Energy’s previous quarterly dividend of $1.02. The ex-dividend date is Monday, December 16th. This represents a $4.36 annualized dividend and a dividend yield of 3.62%. DTE Energy’s payout ratio is presently 59.08%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. increased its position in DTE Energy by 3.1% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 35,053 shares of the utilities provider’s stock worth $3,891,000 after purchasing an additional 1,042 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in DTE Energy by 1.9% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,480 shares of the utilities provider’s stock worth $2,273,000 after acquiring an additional 378 shares in the last quarter. Rothschild Investment LLC acquired a new stake in DTE Energy in the second quarter valued at $145,000. Commonwealth Equity Services LLC boosted its position in shares of DTE Energy by 0.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 91,199 shares of the utilities provider’s stock worth $10,124,000 after purchasing an additional 638 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of DTE Energy by 159.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,507 shares of the utilities provider’s stock worth $383,000 after purchasing an additional 2,154 shares during the period. 76.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on DTE shares. Scotiabank raised their target price on DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research report on Thursday, December 12th. KeyCorp downgraded shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and upped their price objective for the company from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Morgan Stanley decreased their target price on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Finally, Wells Fargo & Company boosted their target price on DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently 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.