DTE Energy (NYSE:DTE) Sees Large Increase in Short Interest

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

Analyst Ratings Changes

DTE has been the subject of several recent analyst reports. BMO Capital Markets upped their target price 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. StockNews.com raised DTE Energy from a "sell" rating to a "hold" rating in a research note on Friday, February 21st. Morgan Stanley boosted their target price on DTE Energy from $131.00 to $136.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. Guggenheim raised their price target on DTE Energy from $139.00 to $147.00 and gave the stock a "buy" rating in a research report on Friday, March 21st. Finally, Scotiabank boosted their price objective on DTE Energy from $137.00 to $147.00 and gave the company a "sector outperform" rating in a research report on Thursday, December 12th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, DTE Energy presently has a consensus rating of "Moderate Buy" and an average price target of $138.58.

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DTE Energy Stock Performance

DTE traded down $7.65 during trading on Friday, hitting $131.85. The stock had a trading volume of 1,732,004 shares, compared to its average volume of 1,169,473. 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 firm has a market cap of $27.36 billion, a price-to-earnings ratio of 19.47, a P/E/G ratio of 2.41 and a beta of 0.59. The company has a 50 day moving average price of $130.43 and a 200-day moving average price of $125.66. DTE Energy has a one year low of $103.06 and a one year high of $140.39.

DTE Energy (NYSE:DTE - Get Free Report) last announced 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%. As a group, research analysts predict that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid a $1.09 dividend. This represents a $4.36 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy's dividend payout ratio (DPR) is currently 64.40%.

Insider Transactions at DTE Energy

In other news, CAO Tracy J. Myrick sold 1,014 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total transaction of $131,738.88. Following the completion of the transaction, the chief accounting officer now directly owns 3,437 shares in the company, valued at approximately $446,535.04. The trade was a 22.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Joann Chavez sold 7,062 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $132.40, for a total value of $935,008.80. Following the completion of the sale, the senior vice president now directly owns 14,067 shares of the company's stock, valued at approximately $1,862,470.80. This trade represents a 33.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,877 shares of company stock worth $1,559,205 in the last quarter. 0.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On DTE Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc lifted its position in DTE Energy by 250.8% during the first quarter. Versant Capital Management Inc now owns 1,042 shares of the utilities provider's stock worth $144,000 after purchasing an additional 745 shares during the period. Centre Asset Management LLC bought a new position in shares of DTE Energy in the 1st quarter valued at $218,000. M1 Capital Management LLC acquired a new position in shares of DTE Energy during the 4th quarter worth $918,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of DTE Energy by 156.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 45,258 shares of the utilities provider's stock worth $5,465,000 after buying an additional 27,601 shares during the last quarter. Finally, Mattson Financial Services LLC acquired a new position in DTE Energy during the fourth quarter worth about $38,000. 76.06% of the stock is owned by institutional investors and hedge funds.

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.