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

DTE Energy (NYSE:DTE) was the recipient of a large increase in short interest in 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 currently 2.2 days.

Wall Street Analysts Forecast Growth

DTE has been the topic of several recent analyst reports. KeyCorp downgraded shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. BMO Capital Markets boosted their price objective on DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. UBS Group raised DTE Energy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Morgan Stanley dropped their price target on DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Finally, Jefferies Financial Group initiated coverage on shares of DTE Energy in a report on Monday, October 21st. They issued a “hold” rating and a $137.00 target price on the stock. Seven equities 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, the company has an average rating of “Moderate Buy” and an average target price of $134.31.

Institutional Trading of DTE Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp boosted its position in 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 buying an additional 662,569 shares during the period. Mizuho Securities USA LLC grew its position 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 worth $903,878,000 after buying an additional 7,023,042 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in DTE Energy by 1.6% in the second quarter. Ameriprise Financial Inc. now owns 5,557,309 shares of the utilities provider’s stock worth $616,938,000 after acquiring an additional 86,205 shares during the period. Janus Henderson Group PLC increased its position 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 purchasing an additional 64,880 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of DTE Energy by 3.7% in 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 purchasing an additional 59,811 shares in the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Trading Up 0.0 %

DTE stock traded up $0.06 during midday trading on Tuesday, reaching $120.61. 91,015 shares of the company traded hands, compared to its average volume of 1,133,646. The firm has a market capitalization of $24.98 billion, a price-to-earnings ratio of 16.34, a P/E/G ratio of 2.23 and a beta of 0.68. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.62 and a current ratio of 0.83. The business has a 50 day moving average of $122.35 and a 200-day moving average of $121.07. DTE Energy has a 52-week low of $102.17 and a 52-week high of $131.66.

DTE Energy Increases Dividend

The company also recently disclosed 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 a positive change from DTE Energy’s previous quarterly dividend of $1.02. The ex-dividend date is Monday, December 16th. DTE Energy’s payout ratio is presently 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.