DTE Energy (NYSE:DTE) Short Interest Up 19.9% in March

DTE Energy (NYSE:DTE) was the recipient of a large increase in short interest in March. As of March 15th, there was short interest totalling 4,580,000 shares, an increase of 19.9% from the February 28th total of 3,820,000 shares. Approximately 2.2% of the shares of the company are short sold. Based on an average daily volume of 1,280,000 shares, the days-to-cover ratio is currently 3.6 days.

DTE Energy Stock Up 0.1 %

Shares of NYSE DTE traded up $0.20 during mid-day trading on Wednesday, hitting $138.12. The company had a trading volume of 1,055,814 shares, compared to its average volume of 1,164,647. The company has a market capitalization of $28.66 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59. The business’s 50-day simple moving average is $129.42 and its 200 day simple moving average is $125.44. DTE Energy has a 1-year low of $103.06 and a 1-year high of $139.05. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. On average, analysts predict that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be issued a $1.09 dividend. This represents a $4.36 annualized dividend and a yield of 3.16%. The ex-dividend date is Monday, March 17th. DTE Energy’s dividend payout ratio (DPR) is presently 64.40%.

Insider Activity

In related news, SVP Joann Chavez sold 7,062 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $132.40, for a total value of $935,008.80. Following the completion of the transaction, the senior vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Tracy J. Myrick sold 1,014 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total transaction of $131,738.88. Following the completion of the sale, the chief accounting officer now owns 3,437 shares of the company’s stock, valued at $446,535.04. This trade represents a 22.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,877 shares of company stock valued at $1,559,205 in the last three months. 0.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Legacy Investment Solutions LLC purchased a new position in shares of DTE Energy in the 3rd quarter valued at $30,000. Versant Capital Management Inc increased its holdings in shares of DTE Energy by 890.0% in the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 267 shares during the period. Mattson Financial Services LLC purchased a new position in DTE Energy during the 4th quarter worth $38,000. Robbins Farley purchased a new stake in shares of DTE Energy in the fourth quarter valued at about $57,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of DTE Energy during the fourth quarter worth about $57,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Barclays lowered shares of DTE Energy from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $137.00 to $135.00 in a research report on Thursday, February 20th. 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. BMO Capital Markets raised their price objective on DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Scotiabank boosted their price objective on shares of DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a report on Thursday, December 12th. Finally, KeyCorp downgraded shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $138.58.

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.