Short Interest in DTE Energy (NYSE:DTE) Declines By 9.5%

DTE Energy (NYSE:DTE) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 3,050,000 shares, a decrease of 9.5% from the August 15th total of 3,370,000 shares. Based on an average trading volume of 1,010,000 shares, the short-interest ratio is currently 3.0 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. ESL Trust Services LLC purchased a new position in DTE Energy in the 1st quarter valued at about $27,000. Rise Advisors LLC lifted its stake in DTE Energy by 89.6% in the 1st quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock valued at $31,000 after buying an additional 129 shares in the last quarter. Ridgewood Investments LLC purchased a new position in DTE Energy in the 2nd quarter valued at about $31,000. Denali Advisors LLC acquired a new stake in DTE Energy in the 1st quarter valued at about $34,000. Finally, Salomon & Ludwin LLC raised its holdings in DTE Energy by 82.3% in the 1st quarter. Salomon & Ludwin LLC now owns 432 shares of the utilities provider’s stock valued at $48,000 after acquiring an additional 195 shares during the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Price Performance

Shares of DTE stock traded down $1.26 during mid-day trading on Wednesday, hitting $124.42. 1,301,061 shares of the stock were exchanged, compared to its average volume of 1,075,445. The firm has a fifty day moving average of $121.40 and a 200 day moving average of $114.81. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 1.73. DTE Energy has a 52-week low of $90.14 and a 52-week high of $127.59. The company has a market cap of $25.75 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 2.28 and a beta of 0.67.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.22. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.65 billion. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. During the same period last year, the company posted $0.99 EPS. Research analysts anticipate that DTE Energy will post 6.7 earnings per share for the current year.

DTE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date is Monday, September 16th. DTE Energy’s dividend payout ratio is presently 66.78%.

Wall Street Analyst Weigh In

DTE has been the topic of several research reports. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, August 11th. LADENBURG THALM/SH SH assumed coverage on shares of DTE Energy in a report on Wednesday, August 14th. They issued a “buy” rating and a $131.00 price target on the stock. Scotiabank upped their price target on shares of DTE Energy from $120.00 to $137.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Bank of America upped their price target on shares of DTE Energy from $131.00 to $136.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, BMO Capital Markets upped their price target on shares of DTE Energy from $126.00 to $135.00 and gave the company a “market perform” rating in a report on Friday, September 6th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, DTE Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.58.

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.