DTE Energy (NYSE:DTE) Short Interest Up 16.3% in November

DTE Energy (NYSE:DTE) saw a large growth in short interest in November. As of November 15th, there was short interest totalling 2,570,000 shares, a growth of 16.3% from the October 31st total of 2,210,000 shares. Based on an average trading volume of 1,240,000 shares, the days-to-cover ratio is presently 2.1 days.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Bank of America upped their target price on DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. BMO Capital Markets lifted their target price on DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. LADENBURG THALM/SH SH assumed coverage on DTE Energy in a research report on Wednesday, August 14th. They set a “buy” rating and a $131.00 price objective for the company. Morgan Stanley decreased their target price 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, UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $129.00 to $143.00 in a research note on Tuesday. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $132.29.

Hedge Funds Weigh In On DTE Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Tidal Investments LLC boosted its holdings in shares of DTE Energy by 4.0% in the third quarter. Tidal Investments LLC now owns 2,490 shares of the utilities provider’s stock worth $320,000 after buying an additional 96 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of DTE Energy during the 3rd quarter worth $155,000. Arvest Bank Trust Division bought a new position in DTE Energy during the third quarter worth $10,338,000. World Investment Advisors LLC bought a new stake in shares of DTE Energy during the third quarter worth about $269,000. Finally, Sanctuary Advisors LLC raised its stake in shares of DTE Energy by 21.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 30,220 shares of the utilities provider’s stock worth $3,765,000 after purchasing an additional 5,243 shares during the period. 76.06% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Stock Performance

NYSE:DTE traded down $0.65 on Tuesday, hitting $122.95. The stock had a trading volume of 1,207,389 shares, compared to its average volume of 1,121,949. The business’s 50-day simple moving average is $124.63 and its two-hundred day simple moving average is $120.15. The stock has a market cap of $25.46 billion, a price-to-earnings ratio of 16.66, a price-to-earnings-growth ratio of 2.28 and a beta of 0.68. DTE Energy has a 52-week low of $102.17 and a 52-week high of $131.66. 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 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be issued a $1.09 dividend. This is an increase from DTE Energy’s previous quarterly dividend of $1.02. This represents a $4.36 dividend on an annualized basis and a yield of 3.55%. DTE Energy’s payout ratio is currently 55.28%.

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.