DTE Energy Company (NYSE:DTE) Short Interest Down 15.6% in January

DTE Energy Company (NYSE:DTE) saw a large drop in short interest in the month of January. As of January 15th, there was short interest totaling 3,613,562 shares, a drop of 15.6% from the December 31st total of 4,280,880 shares. Based on an average daily trading volume, of 1,339,804 shares, the short-interest ratio is presently 2.7 days. Approximately 1.7% of the company’s shares are short sold. Approximately 1.7% of the company’s shares are short sold. Based on an average daily trading volume, of 1,339,804 shares, the short-interest ratio is presently 2.7 days.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on DTE shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of DTE Energy in a research report on Wednesday, January 21st. Wells Fargo & Company reduced their price objective on DTE Energy from $157.00 to $152.00 and set an “overweight” rating on the stock in a report on Tuesday, January 20th. Scotiabank decreased their target price on DTE Energy from $147.00 to $146.00 and set a “sector perform” rating for the company in a research report on Friday, October 31st. Morgan Stanley increased their price target on DTE Energy from $142.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, UBS Group cut their price target on DTE Energy from $155.00 to $151.00 and set a “buy” rating on the stock in a research note on Wednesday, December 17th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, DTE Energy presently has an average rating of “Moderate Buy” and an average target price of $147.69.

Institutional Investors Weigh In On DTE Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. NewEdge Wealth LLC grew its holdings in DTE Energy by 38.7% in the fourth quarter. NewEdge Wealth LLC now owns 2,464 shares of the utilities provider’s stock worth $318,000 after purchasing an additional 687 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of DTE Energy by 4.7% during the 4th quarter. Crossmark Global Holdings Inc. now owns 6,161 shares of the utilities provider’s stock valued at $795,000 after purchasing an additional 278 shares during the last quarter. Ethic Inc. boosted its position in shares of DTE Energy by 7.2% in the 4th quarter. Ethic Inc. now owns 10,205 shares of the utilities provider’s stock worth $1,316,000 after purchasing an additional 681 shares in the last quarter. Crestwood Advisors Group LLC grew its stake in DTE Energy by 11.8% during the 4th quarter. Crestwood Advisors Group LLC now owns 2,176 shares of the utilities provider’s stock worth $281,000 after buying an additional 230 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in DTE Energy by 11.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 19,608 shares of the utilities provider’s stock worth $2,529,000 after buying an additional 2,035 shares during the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Up 2.0%

Shares of NYSE:DTE traded up $2.69 on Tuesday, reaching $135.62. The company had a trading volume of 1,598,706 shares, compared to its average volume of 1,615,011. The firm has a market capitalization of $28.17 billion, a PE ratio of 20.36, a PEG ratio of 2.44 and a beta of 0.49. The company has a current ratio of 1.15, a quick ratio of 0.68 and a debt-to-equity ratio of 2.01. DTE Energy has a 52-week low of $119.00 and a 52-week high of $143.79. The firm’s 50 day simple moving average is $131.91 and its 200-day simple moving average is $136.12.

DTE Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Monday, December 15th were issued a $1.165 dividend. This is a boost from DTE Energy’s previous quarterly dividend of $1.09. This represents a $4.66 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Monday, December 15th. DTE Energy’s dividend payout ratio is presently 69.97%.

DTE Energy Company Profile

DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company’s utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.

Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.