DTE Energy (NYSE:DTE) Short Interest Update

DTE Energy (NYSE:DTE) was the recipient of a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 5,310,000 shares, an increase of 31.1% from the April 30th total of 4,050,000 shares. Currently, 2.6% of the shares of the company are short sold. Based on an average trading volume of 1,530,000 shares, the short-interest ratio is presently 3.5 days.

Hedge Funds Weigh In On DTE Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of DTE Energy by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 25,286,380 shares of the utilities provider’s stock worth $3,053,330,000 after purchasing an additional 879,670 shares during the period. Capital World Investors increased its stake in shares of DTE Energy by 123.2% in the fourth quarter. Capital World Investors now owns 6,823,231 shares of the utilities provider’s stock worth $823,905,000 after acquiring an additional 3,766,221 shares during the period. Geode Capital Management LLC increased its stake in shares of DTE Energy by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,920,971 shares of the utilities provider’s stock worth $592,642,000 after acquiring an additional 115,270 shares during the period. Boston Partners increased its stake in shares of DTE Energy by 25.1% in the fourth quarter. Boston Partners now owns 2,899,823 shares of the utilities provider’s stock worth $350,150,000 after acquiring an additional 582,643 shares during the period. Finally, Janus Henderson Group PLC increased its stake in shares of DTE Energy by 0.5% in the fourth quarter. Janus Henderson Group PLC now owns 2,732,819 shares of the utilities provider’s stock worth $329,988,000 after acquiring an additional 12,554 shares during the period. 76.06% of the stock is currently owned by institutional investors.

DTE Energy Stock Performance

Shares of NYSE:DTE opened at $135.79 on Wednesday. The company has a market capitalization of $28.18 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 2.41 and a beta of 0.47. DTE Energy has a 12 month low of $108.40 and a 12 month high of $140.39. The firm’s 50-day moving average is $134.83 and its 200 day moving average is $128.62. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.10 EPS for the quarter, beating the consensus estimate of $1.98 by $0.12. The company had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.33 billion. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. During the same period in the prior year, the firm posted $1.67 EPS. Research analysts predict that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be paid a $1.09 dividend. The ex-dividend date is Monday, June 16th. This represents a $4.36 dividend on an annualized basis and a yield of 3.21%. DTE Energy’s dividend payout ratio is currently 58.92%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on DTE shares. BMO Capital Markets boosted their price objective on shares of DTE Energy from $135.00 to $142.00 and gave the company a “market perform” rating in a research report on Monday, April 21st. Morgan Stanley cut their price objective on shares of DTE Energy from $136.00 to $134.00 and set an “overweight” rating for the company in a research report on Thursday, May 22nd. Barclays cut shares of DTE Energy from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $137.00 to $135.00 in a research note on Thursday, February 20th. Wells Fargo & Company lifted their target price on shares of DTE Energy from $145.00 to $154.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Finally, Guggenheim lifted their target price on shares of DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a research note on Friday, March 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, DTE Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.93.

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.