Short Interest in DTE Energy (NYSE:DTE) Expands By 19.9%

DTE Energy (NYSE:DTE) saw a large growth in short interest in March. As of March 15th, there was short interest totalling 4,580,000 shares, a growth of 19.9% from the February 28th total of 3,820,000 shares. Currently, 2.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,280,000 shares, the short-interest ratio is currently 3.6 days.

Insider Transactions at DTE Energy

In other DTE Energy news, SVP Joann Chavez sold 7,062 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $132.40, for a total transaction of $935,008.80. Following the sale, the senior vice president now owns 14,067 shares of the company’s stock, valued at approximately $1,862,470.80. The trade was a 33.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Matthew T. Paul sold 3,801 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $129.56, for a total transaction of $492,457.56. Following the transaction, the chief operating officer now owns 6,951 shares of the company’s stock, valued at $900,571.56. This trade represents a 35.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,877 shares of company stock valued at $1,559,205. Corporate insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On DTE Energy

Several hedge funds and other institutional investors have recently modified their holdings of DTE. D.A. Davidson & CO. increased its holdings in DTE Energy by 2.4% during the 3rd quarter. D.A. Davidson & CO. now owns 5,037 shares of the utilities provider’s stock worth $647,000 after acquiring an additional 119 shares during the period. FMR LLC increased its holdings in shares of DTE Energy by 6.1% in the third quarter. FMR LLC now owns 342,608 shares of the utilities provider’s stock worth $43,994,000 after purchasing an additional 19,678 shares during the period. Townsquare Capital LLC raised its position in shares of DTE Energy by 10.1% in the third quarter. Townsquare Capital LLC now owns 8,831 shares of the utilities provider’s stock worth $1,134,000 after buying an additional 810 shares in the last quarter. Edgestream Partners L.P. boosted its stake in DTE Energy by 124.4% during the third quarter. Edgestream Partners L.P. now owns 11,637 shares of the utilities provider’s stock valued at $1,494,000 after buying an additional 6,452 shares during the period. Finally, Atom Investors LP grew its position in DTE Energy by 33.2% during the third quarter. Atom Investors LP now owns 2,540 shares of the utilities provider’s stock worth $326,000 after buying an additional 633 shares in the last quarter. 76.06% of the stock is currently owned by institutional investors.

DTE Energy Stock Performance

Shares of DTE traded up $1.97 during trading hours on Thursday, hitting $139.97. The company’s stock had a trading volume of 976,277 shares, compared to its average volume of 1,164,055. The company has a market cap of $29.05 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 2.41 and a beta of 0.59. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46. The business has a 50 day simple moving average of $129.78 and a two-hundred day simple moving average of $125.53. DTE Energy has a 52-week low of $103.06 and a 52-week high of $140.31.

DTE Energy (NYSE:DTE) last issued its earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. On average, equities analysts expect that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be issued a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Monday, March 17th. DTE Energy’s payout ratio is presently 64.40%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DTE. BMO Capital Markets raised their price target on shares of DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Guggenheim increased their price target on DTE Energy from $139.00 to $147.00 and gave the stock a “buy” rating in a report on Friday, March 21st. KeyCorp cut shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Finally, Scotiabank upped their price objective on shares of DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, DTE Energy has a consensus rating of “Moderate Buy” and a consensus target price of $138.58.

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.