Short Interest in DTE Energy (NYSE:DTE) Drops 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 Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC grew its holdings in DTE Energy by 2.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,588 shares of the utilities provider’s stock worth $461,000 after acquiring an additional 81 shares in the last quarter. Signaturefd LLC grew its stake in shares of DTE Energy by 3.1% during the third quarter. Signaturefd LLC now owns 2,889 shares of the utilities provider’s stock worth $371,000 after purchasing an additional 86 shares in the last quarter. Aptus Capital Advisors LLC increased its holdings in DTE Energy by 3.7% in the second quarter. Aptus Capital Advisors LLC now owns 2,632 shares of the utilities provider’s stock valued at $292,000 after buying an additional 94 shares during the last quarter. Tidal Investments LLC increased its holdings in DTE Energy by 4.0% in the third quarter. Tidal Investments LLC now owns 2,490 shares of the utilities provider’s stock valued at $320,000 after buying an additional 96 shares during the last quarter. Finally, ASB Consultores LLC raised its stake in DTE Energy by 4.9% in the second quarter. ASB Consultores LLC now owns 2,179 shares of the utilities provider’s stock valued at $242,000 after buying an additional 101 shares in the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Price Performance

DTE Energy stock opened at $120.71 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.76. DTE Energy has a 52-week low of $102.17 and a 52-week high of $131.66. The firm 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. The company’s 50 day moving average is $123.54 and its two-hundred day moving average is $120.68.

DTE Energy Increases Dividend

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

Wall Street Analyst Weigh In

DTE has been the topic of several recent analyst reports. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th. Jefferies Financial Group began coverage on DTE Energy in a research report on Monday, October 21st. They issued a “hold” rating and a $137.00 price objective for the company. Mizuho lifted their target price on DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Morgan Stanley decreased their price target on DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Finally, Bank of America raised their price objective on DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus 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.