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

DTE Energy (NYSE:DTE) saw a significant growth in short interest during the month of 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 volume of 1,300,000 shares, the days-to-cover ratio is currently 2.2 days.

Analyst Ratings Changes

A number of equities analysts recently commented on DTE shares. KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Wells Fargo & Company raised their target price on shares of DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Scotiabank boosted their price target on shares of DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research report on Thursday, December 12th. UBS Group upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $129.00 to $143.00 in a report on Tuesday, December 3rd. Finally, Jefferies Financial Group initiated coverage on DTE Energy in a report on Monday, October 21st. They set a “hold” rating and a $137.00 target price on the stock. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $134.31.

DTE Energy Stock Up 0.0 %

Shares of NYSE DTE traded up $0.06 during midday trading on Tuesday, hitting $120.61. The stock had a trading volume of 91,015 shares, compared to its average volume of 1,133,646. The business’s 50 day moving average is $122.35 and its 200-day moving average is $121.07. DTE Energy has a 52 week low of $102.17 and a 52 week high of $131.66. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.76. The company has a market cap of $24.98 billion, a P/E ratio of 16.34, a PEG ratio of 2.23 and a beta of 0.68.

DTE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be paid a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 3.61%. This is an increase from DTE Energy’s previous quarterly dividend of $1.02. The ex-dividend date is Monday, December 16th. DTE Energy’s dividend payout ratio (DPR) is currently 59.08%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DTE. Mizuho Securities USA LLC grew its stake in shares of 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 purchasing an additional 7,023,042 shares during the period. State Street Corp increased its holdings in DTE Energy by 7.0% during the third quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock valued at $1,319,264,000 after buying an additional 662,569 shares during the last quarter. Zimmer Partners LP bought a new position in DTE Energy in the third quarter worth approximately $69,894,000. Point72 Asset Management L.P. purchased a new position in shares of DTE Energy during the 3rd quarter worth $66,733,000. Finally, National Bank of Canada FI grew its position in shares of DTE Energy by 246.9% during the 3rd quarter. National Bank of Canada FI now owns 282,553 shares of the utilities provider’s stock valued at $36,282,000 after acquiring an additional 201,096 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.

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.