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

DTE Energy (NYSE:DTE - Get Free Report) 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. Approximately 2.2% of the company's shares are short sold. Based on an average trading volume of 1,280,000 shares, the days-to-cover ratio is presently 3.6 days.

Insider Activity

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

Institutional Trading of DTE Energy

Several hedge funds have recently made changes to their positions in DTE. Legacy Investment Solutions LLC purchased a new stake in DTE Energy during the third quarter valued at about $30,000. Mattson Financial Services LLC purchased a new stake in shares of DTE Energy during the 4th quarter valued at approximately $38,000. Versant Capital Management Inc boosted its holdings in DTE Energy by 890.0% in the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider's stock worth $36,000 after buying an additional 267 shares during the period. Robbins Farley purchased a new position in DTE Energy in the 4th quarter valued at approximately $57,000. Finally, Kestra Investment Management LLC purchased a new position in DTE Energy in the 4th quarter valued at approximately $57,000. 76.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Barclays lowered shares of DTE Energy from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $137.00 to $135.00 in a research note on Thursday, February 20th. 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 report on Tuesday, February 18th. Scotiabank lifted their price target on DTE Energy from $137.00 to $147.00 and gave the company a "sector outperform" rating in a research note on Thursday, December 12th. StockNews.com raised DTE Energy from a "sell" rating to a "hold" rating in a research note on Friday, February 21st. Finally, Guggenheim lifted their target price on DTE Energy from $139.00 to $147.00 and gave the company a "buy" rating in a research report on Friday, March 21st. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $138.58.

DTE Energy Stock Performance

Shares of DTE Energy stock traded down $3.89 during trading hours on Monday, hitting $127.91. 2,373,017 shares of the company's stock traded hands, compared to its average volume of 1,174,521. The stock has a market capitalization of $26.54 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 2.41 and a beta of 0.49. DTE Energy has a 12-month low of $103.06 and a 12-month high of $140.39. 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 company has a fifty day simple moving average of $130.56 and a 200-day simple moving average of $125.70.

DTE Energy (NYSE:DTE - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts anticipate that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy's dividend payout ratio (DPR) is 64.40%.

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.