Short Interest in DTE Energy (NYSE:DTE) Decreases By 8.6%

DTE Energy (NYSE:DTE - Get Free Report) was the recipient of a large decrease in short interest in November. As of November 30th, there was short interest totalling 2,350,000 shares, a decrease of 8.6% from the November 15th total of 2,570,000 shares. Based on an average daily volume of 1,250,000 shares, the days-to-cover ratio is currently 1.9 days.

Institutional Investors Weigh In On DTE Energy

A number of institutional investors have recently made changes to their positions in the company. Tidal Investments LLC lifted its position in shares of DTE Energy by 4.0% in the 3rd 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 last quarter. Wilmington Savings Fund Society FSB bought a new position in DTE Energy in the third quarter worth about $155,000. Arvest Bank Trust Division bought a new position in DTE Energy in the third quarter worth about $10,338,000. World Investment Advisors LLC acquired a new position in DTE Energy in the third quarter valued at approximately $269,000. Finally, Sanctuary Advisors LLC grew its stake in 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 buying an additional 5,243 shares during the last quarter. 76.06% of the stock is currently owned by institutional investors.

DTE Energy Stock Up 1.0 %

DTE traded up $1.14 during trading on Monday, hitting $121.35. The company had a trading volume of 2,428,808 shares, compared to its average volume of 1,133,864. The company has a market cap of $25.13 billion, a PE ratio of 16.44, a P/E/G ratio of 2.23 and a beta of 0.68. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62. DTE Energy has a 1-year low of $102.17 and a 1-year high of $131.66. The business has a 50-day moving average of $123.63 and a 200-day moving average of $120.65.

DTE Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be paid a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a yield of 3.59%. This is an increase from DTE Energy's previous quarterly dividend of $1.02. The ex-dividend date is Monday, December 16th. DTE Energy's dividend payout ratio (DPR) is 59.08%.

Analyst Ratings Changes

A number of equities analysts have recently commented on DTE shares. BMO Capital Markets raised their target price on shares of DTE Energy from $135.00 to $140.00 and gave the company a "market perform" rating in a research note on Friday, October 18th. Wells Fargo & Company raised their price objective on DTE Energy from $133.00 to $145.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Scotiabank upped their target price on DTE Energy from $137.00 to $147.00 and gave the stock a "sector outperform" rating in a research report on Thursday. Barclays increased their target price on DTE Energy from $128.00 to $137.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. Finally, Bank of America boosted their price target on DTE Energy from $131.00 to $136.00 and gave the stock a "buy" rating in a research report on Thursday, August 29th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $134.31.

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.