DTE Energy (NYSE:DTE) Sees Large Decrease in Short Interest
DTE Energy (NYSE:DTE – Get Free Report) saw a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 2,180,000 shares, a decrease of 21.6% from the October 31st total of 2,780,000 shares. Based on an average daily trading volume, of 1,500,000 shares, the days-to-cover ratio is currently 1.5 days.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the company. TheStreet lowered DTE Energy from a “b-” rating to a “c+” rating in a research report on Friday, October 20th. StockNews.com lowered DTE Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Barclays assumed coverage on DTE Energy in a research report on Wednesday, August 23rd. They set an “overweight” rating and a $117.00 price target on the stock. BMO Capital Markets dropped their price target on DTE Energy from $109.00 to $107.00 and set a “market perform” rating on the stock in a research report on Friday, November 3rd. Finally, Morgan Stanley dropped their price target on DTE Energy from $118.00 to $111.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $80.21.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of DTE. Ameritas Advisory Services LLC bought a new position in DTE Energy during the first quarter valued at about $26,000. Caldwell Sutter Capital Inc. boosted its stake in DTE Energy by 60.6% during the second quarter. Caldwell Sutter Capital Inc. now owns 265 shares of the utilities provider’s stock valued at $29,000 after buying an additional 100 shares in the last quarter. Mcmillion Capital Management Inc. bought a new position in DTE Energy during the second quarter valued at about $29,000. Farther Finance Advisors LLC boosted its stake in DTE Energy by 180.3% during the second quarter. Farther Finance Advisors LLC now owns 328 shares of the utilities provider’s stock valued at $36,000 after buying an additional 211 shares in the last quarter. Finally, Milestone Investment Advisors LLC bought a new position in DTE Energy during the third quarter valued at about $36,000. Institutional investors own 74.72% of the company’s stock.
DTE Energy Stock Performance
Shares of NYSE:DTE traded up $4.07 on Friday, hitting $108.18. The company’s stock had a trading volume of 2,802,745 shares, compared to its average volume of 1,298,039. DTE Energy has a 12 month low of $90.14 and a 12 month high of $122.40. The company has a market capitalization of $22.31 billion, a price-to-earnings ratio of 17.88, a price-to-earnings-growth ratio of 2.95 and a beta of 0.64. The stock’s 50-day moving average is $99.65 and its two-hundred day moving average is $105.64. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.57 and a current ratio of 0.85.
DTE Energy (NYSE:DTE – Get Free Report) last released its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.23). DTE Energy had a return on equity of 9.85% and a net margin of 8.99%. The business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the previous year, the company posted $1.60 EPS. On average, equities research analysts forecast that DTE Energy will post 5.88 EPS for the current year.
DTE Energy Company Profile (Get Free Report)
DTE Energy Company engages in the utility operations. The company’s Electric segment generates, purchases, distributes, and sells electricity to approximately 2.3 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.
Further Reading
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Original: MarketBeat News Feed: DTE Energy (NYSE:DTE) Sees Large Decrease in Short Interest