DTE Energy (NYSE:DTE) Sees Significant Increase in Short Interest

DTE Energy (NYSE:DTE) saw 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 trading volume of 1,300,000 shares, the short-interest ratio is presently 2.2 days.

DTE Energy Stock Down 0.7 %

Shares of DTE opened at $120.55 on Tuesday. The firm has a 50 day simple moving average of $122.35 and a two-hundred day simple moving average of $121.07. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62. DTE Energy has a one year low of $102.17 and a one year high of $131.66. The company has a market cap of $24.97 billion, a P/E ratio of 16.33, a P/E/G ratio of 2.23 and a beta of 0.68.

DTE Energy Increases Dividend

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

Institutional Trading of DTE Energy

Several large investors have recently bought and sold shares of the business. Mizuho Securities USA LLC boosted its position in DTE Energy by 44,009.5% in the third quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock valued at $903,878,000 after buying an additional 7,023,042 shares in the last quarter. State Street Corp lifted its stake in shares of DTE Energy by 7.0% in 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 last quarter. Zimmer Partners LP acquired a new stake in shares of DTE Energy during the 3rd quarter valued at $69,894,000. Point72 Asset Management L.P. bought a new stake in DTE Energy during the 3rd quarter worth $66,733,000. Finally, National Bank of Canada FI increased its holdings in DTE Energy by 246.9% in the 3rd quarter. National Bank of Canada FI now owns 282,553 shares of the utilities provider’s stock worth $36,282,000 after purchasing an additional 201,096 shares in the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on the stock. BMO Capital Markets upped their price objective on shares of DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a report on Friday, October 18th. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. Mizuho increased their price objective on DTE Energy from $121.00 to $133.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Scotiabank boosted their target price 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. Finally, Morgan Stanley lowered their price target on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average 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.