DTE Energy (NYSE:DTE) Short Interest Up 31.1% in May

DTE Energy (NYSE:DTE - Get Free Report) was the target of a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 5,310,000 shares, a growth of 31.1% from the April 30th total of 4,050,000 shares. Approximately 2.6% of the company's stock are sold short. Based on an average daily trading volume, of 1,530,000 shares, the days-to-cover ratio is presently 3.5 days.

DTE Energy Stock Performance

DTE Energy stock traded down $0.77 during mid-day trading on Thursday, reaching $132.54. 1,424,654 shares of the company were exchanged, compared to its average volume of 1,399,902. The firm's 50-day simple moving average is $134.77 and its two-hundred day simple moving average is $128.65. DTE Energy has a twelve month low of $108.40 and a twelve month high of $140.39. The firm has a market cap of $27.50 billion, a PE ratio of 19.58, a price-to-earnings-growth ratio of 2.41 and a beta of 0.47. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71.

DTE Energy (NYSE:DTE - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.12. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. The firm had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same period last year, the company earned $1.67 earnings per share. Equities analysts predict that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be given a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Monday, June 16th. DTE Energy's payout ratio is 58.92%.

Hedge Funds Weigh In On DTE Energy

A number of large investors have recently modified their holdings of DTE. Cloud Capital Management LLC purchased a new stake in shares of DTE Energy in the first quarter valued at approximately $25,000. Olde Wealth Management LLC acquired a new stake in DTE Energy in the first quarter valued at $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of DTE Energy during the 1st quarter worth $28,000. SouthState Corp purchased a new stake in shares of DTE Energy during the 1st quarter worth $29,000. Finally, N.E.W. Advisory Services LLC acquired a new position in shares of DTE Energy during the 1st quarter worth $31,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DTE has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of DTE Energy from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Wells Fargo & Company raised their price objective on DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Barclays downgraded DTE Energy from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $137.00 to $135.00 in a report on Thursday, February 20th. Morgan Stanley decreased their target price on DTE Energy from $136.00 to $134.00 and set an "overweight" rating for the company in a research report on Thursday, May 22nd. Finally, Citigroup restated a "buy" rating and set a $151.00 price target (up previously from $142.00) on shares of DTE Energy in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.