DTE Energy (NYSE:DTE) Short Interest Down 9.5% in August

DTE Energy (NYSE:DTE) was the target of a large decline in short interest in August. As of August 31st, there was short interest totalling 3,050,000 shares, a decline 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 days-to-cover ratio is currently 3.0 days.

DTE Energy Price Performance

DTE traded down $0.66 during trading hours on Tuesday, hitting $125.70. The company’s stock had a trading volume of 832,373 shares, compared to its average volume of 1,074,183. The stock has a market cap of $26.01 billion, a price-to-earnings ratio of 20.57, a P/E/G ratio of 2.28 and a beta of 0.67. The business’s 50-day moving average price is $121.09 and its 200-day moving average price is $114.74. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. DTE Energy has a 12 month low of $90.14 and a 12 month high of $127.59.

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

DTE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date is Monday, September 16th. DTE Energy’s dividend payout ratio (DPR) is 66.78%.

Institutional Investors Weigh In On DTE Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. ESL Trust Services LLC purchased a new position in DTE Energy during the 1st quarter valued at $27,000. Rise Advisors LLC grew its holdings in shares of DTE Energy by 89.6% in the first quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 129 shares during the last quarter. Ridgewood Investments LLC purchased a new position in DTE Energy in the 2nd quarter worth about $31,000. Denali Advisors LLC bought a new stake in DTE Energy during the 1st quarter valued at about $34,000. Finally, Salomon & Ludwin LLC boosted its position 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 buying an additional 195 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on DTE shares. Mizuho boosted their target price on shares of DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. BMO Capital Markets boosted their target price on shares of DTE Energy from $126.00 to $135.00 and gave the company a “market perform” rating in a research note on Friday, September 6th. 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 objective on the stock. Barclays lifted their target price on DTE Energy from $123.00 to $128.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, August 11th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, DTE Energy has an average rating of “Moderate Buy” and an average price target of $127.58.

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.