Short Interest in DTE Energy (NYSE:DTE) Grows By 23.8%

DTE Energy (NYSE:DTE - Get Free Report) was the target of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 2,910,000 shares, an increase of 23.8% from the November 30th total of 2,350,000 shares. Based on an average daily trading volume, of 1,300,000 shares, the short-interest ratio is presently 2.2 days.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DTE. Jefferies Financial Group initiated coverage on shares of DTE Energy in a research note on Monday, October 21st. They issued a "hold" rating and a $137.00 price objective on the stock. Morgan Stanley decreased their target price on DTE Energy from $131.00 to $128.00 and set an "overweight" rating on the stock in a report on Friday, November 22nd. BMO Capital Markets upped their price target on DTE Energy from $135.00 to $140.00 and gave the stock a "market perform" rating in a research report on Friday, October 18th. Mizuho increased their target price on shares of DTE Energy from $121.00 to $133.00 and gave the stock an "outperform" rating in a report on Tuesday, September 10th. Finally, Wells Fargo & Company raised their price target on DTE Energy from $133.00 to $145.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $134.31.

DTE Energy Price Performance

Shares of DTE stock traded up $0.20 on Tuesday, reaching $120.75. The company's stock had a trading volume of 646,040 shares, compared to its average volume of 1,135,933. The stock's fifty day simple moving average is $122.20 and its 200-day simple moving average is $121.13. DTE Energy has a 1 year low of $102.17 and a 1 year high of $131.66. The company has a market capitalization of $25.01 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 2.23 and a beta of 0.68. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 1.76.

DTE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be given a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a dividend yield of 3.61%. This is a boost from DTE Energy's previous quarterly dividend of $1.02. The ex-dividend date is Monday, December 16th. DTE Energy's dividend payout ratio is currently 59.08%.

Institutional Investors Weigh In On DTE Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its position in DTE Energy by 7.0% in the 3rd quarter. State Street Corp now owns 10,193,572 shares of the utilities provider's stock valued at $1,319,264,000 after acquiring an additional 662,569 shares during the last quarter. Mizuho Securities USA LLC boosted its stake in shares of DTE Energy by 44,009.5% during the third quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider's stock valued at $903,878,000 after purchasing an additional 7,023,042 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of DTE Energy by 1.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,557,309 shares of the utilities provider's stock worth $616,938,000 after acquiring an additional 86,205 shares in the last quarter. Janus Henderson Group PLC grew its stake in DTE Energy by 2.4% in the third quarter. Janus Henderson Group PLC now owns 2,720,265 shares of the utilities provider's stock valued at $349,309,000 after purchasing an additional 64,880 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in DTE Energy by 3.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,667,111 shares of the utilities provider's stock worth $185,066,000 after purchasing an additional 59,811 shares in the last quarter. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

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.