Short Interest in DTE Energy (NYSE:DTE) Declines By 9.5%

DTE Energy (NYSE:DTE) saw a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 3,050,000 shares, a decrease of 9.5% from the August 15th total of 3,370,000 shares. Based on an average trading volume of 1,010,000 shares, the short-interest ratio is currently 3.0 days.

Hedge Funds Weigh In On DTE Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DTE. Janus Henderson Group PLC boosted its position in DTE Energy by 6,964.9% in the 1st quarter. Janus Henderson Group PLC now owns 2,090,350 shares of the utilities provider’s stock valued at $234,410,000 after buying an additional 2,060,762 shares during the period. Clearbridge Investments LLC boosted its position in DTE Energy by 224.7% in the 1st quarter. Clearbridge Investments LLC now owns 2,538,106 shares of the utilities provider’s stock valued at $284,623,000 after buying an additional 1,756,459 shares during the period. Point72 Asset Management L.P. purchased a new position in DTE Energy in the 4th quarter valued at approximately $74,478,000. Capital Research Global Investors lifted its position in shares of DTE Energy by 1.9% during the 4th quarter. Capital Research Global Investors now owns 20,933,030 shares of the utilities provider’s stock worth $2,308,076,000 after purchasing an additional 399,646 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in shares of DTE Energy by 109.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 555,072 shares of the utilities provider’s stock worth $61,202,000 after purchasing an additional 289,663 shares during the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Wall Street Analyst Weigh In

DTE has been the subject of a number of recent research reports. Bank of America increased their price objective on shares of DTE Energy from $131.00 to $136.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Barclays increased their price objective on shares of DTE Energy from $123.00 to $128.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. BMO Capital Markets raised their price target on shares of DTE Energy from $126.00 to $135.00 and gave the stock a “market perform” rating in a report on Friday, September 6th. KeyCorp raised their price target on shares of DTE Energy from $126.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Morgan Stanley raised their price target on shares of DTE Energy from $114.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $127.58.

DTE Energy Trading Down 1.0 %

DTE Energy stock traded down $1.26 during trading on Wednesday, hitting $124.42. The company had a trading volume of 1,301,061 shares, compared to its average volume of 1,075,445. DTE Energy has a 1-year low of $90.14 and a 1-year high of $127.59. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. The company’s 50 day simple moving average is $121.40 and its 200-day simple moving average is $114.81. The stock has a market cap of $25.75 billion, a price-to-earnings ratio of 20.36, a price-to-earnings-growth ratio of 2.28 and a beta of 0.67.

DTE Energy (NYSE:DTE) last posted its earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.22. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter last year, the firm earned $0.99 EPS. As a group, analysts expect that DTE Energy will post 6.7 EPS for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be given a $1.02 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $4.08 annualized dividend and a yield of 3.28%. DTE Energy’s dividend payout ratio is presently 66.78%.

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.