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

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

Institutional Investors Weigh In On DTE Energy

Large investors have recently modified their holdings of the business. Legacy Investment Solutions LLC purchased a new stake in DTE Energy during the 3rd quarter valued at about $30,000. Prospera Private Wealth LLC purchased a new stake in shares of DTE Energy in the third quarter valued at approximately $35,000. Ashton Thomas Securities LLC acquired a new stake in shares of DTE Energy in the third quarter valued at approximately $35,000. Ridgewood Investments LLC purchased a new position in DTE Energy during the second quarter worth approximately $31,000. Finally, Coastline Trust Co acquired a new position in DTE Energy during the third quarter worth $39,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Performance

NYSE DTE opened at $120.71 on Wednesday. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62. The stock’s 50 day simple moving average is $123.54 and its 200-day simple moving average is $120.68. The company has a market cap of $25.00 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 2.23 and a beta of 0.68. DTE Energy has a 1-year low of $102.17 and a 1-year high of $131.66.

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%. The ex-dividend date is Monday, December 16th. This is a boost from DTE Energy’s previous quarterly dividend of $1.02. DTE Energy’s payout ratio is 59.08%.

Analyst Upgrades and Downgrades

Several research firms have commented on DTE. UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $129.00 to $143.00 in a report on Tuesday, December 3rd. Mizuho upped their target price on DTE Energy from $121.00 to $133.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Jefferies Financial Group assumed 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. Barclays boosted their price target on DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, Morgan Stanley dropped their price objective 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. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, DTE Energy has an average rating of “Moderate Buy” and a consensus price target 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.