Short Interest in DTE Energy (NYSE:DTE) Declines By 8.6%

DTE Energy (NYSE:DTE) was the recipient of a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 2,350,000 shares, a decline of 8.6% from the November 15th total of 2,570,000 shares. Based on an average daily trading volume, of 1,250,000 shares, the days-to-cover ratio is currently 1.9 days.

Hedge Funds Weigh In On DTE Energy

Several institutional investors have recently modified their holdings of the company. State Street Corp boosted its holdings in DTE Energy by 7.0% during the 3rd quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock valued at $1,319,264,000 after acquiring an additional 662,569 shares during the period. Mizuho Securities USA LLC boosted its holdings in DTE Energy by 44,009.5% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock valued at $903,878,000 after acquiring an additional 7,023,042 shares during the period. Ameriprise Financial Inc. boosted its holdings in DTE Energy by 1.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,557,309 shares of the utilities provider’s stock valued at $616,938,000 after acquiring an additional 86,205 shares during the period. Janus Henderson Group PLC boosted its holdings in DTE Energy by 2.4% during the 3rd quarter. Janus Henderson Group PLC now owns 2,720,265 shares of the utilities provider’s stock valued at $349,309,000 after acquiring an additional 64,880 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in DTE Energy by 3.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,667,111 shares of the utilities provider’s stock valued at $185,066,000 after acquiring an additional 59,811 shares during the period. 76.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on DTE shares. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th. Scotiabank lifted their price target on DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research report on Thursday. Morgan Stanley reduced their price target on DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $129.00 to $143.00 in a research report on Tuesday, December 3rd. Finally, BMO Capital Markets boosted their target price on DTE Energy from $135.00 to $140.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $134.31.

DTE Energy Price Performance

Shares of DTE Energy stock opened at $121.28 on Monday. 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 firm has a market capitalization of $25.12 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 2.23 and a beta of 0.68. The business’s 50-day moving average price is $123.71 and its 200-day moving average price is $120.59. DTE Energy has a 12 month low of $102.17 and a 12 month high of $131.66.

DTE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be given a dividend of $1.09 per share. The ex-dividend date of this dividend is Monday, December 16th. This is a positive change from DTE Energy’s previous quarterly dividend of $1.02. This represents a $4.36 annualized dividend and a dividend yield of 3.59%. DTE Energy’s dividend payout ratio is 59.08%.

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.