The total number of short positions in DTE Energy saw a sizeable decline during November, bringing the total number of short positions to its lowest level since January (NYSE: DTE). The number of shares that were shorted as of November 30 was 1,750,000, representing an 8.9% reduction compared to the 1,920,000 shares that were shorted the day before. The days-to-cover ratio is currently at 1.0 days, and this number was calculated based on an average trading volume of 1,760,000 shares. The ratio was determined in this way.
On Thursday, October 27, the most recent earnings report for DTE Energy, whose stock is traded on the New York Stock Exchange under the ticker symbol “DTE,” was made public. DTE Energy stock is traded under this symbol. The utility company’s earnings per share for the quarter came in at $1.60, which is $0.02 more than the consensus estimate of $1.58 per share. The company brought in $5.25 billion in revenue during the quarter, which is significantly higher than the revenue projections for the company made by analysts, which were only $4 billion. The return on equity for DTE Energy was 12.90 percent, while the net margin for the company was 5.79 percent. Compared to the previous year’s results for the same quarter, the company’s profits came in at $1.72 per share. Equity analysts anticipate that DTE Energy will report a profit of $6.02 per share for the current fiscal year (ending on June 30).
DTE began trading on Monday at $115.82. The company has a beta coefficient of 0.60, a market capitalization that is sitting at $22.44 billion, a P/E ratio that is sitting at 3.25, and a P/E/G ratio that is sitting at 20.04. There is currently a debt-to-equity ratio of 1.94, a quick ratio of 0.60, and a current ratio of 0.79. Each of these ratios stands in contrast to the other two. The company’s simple moving average over the past fifty days is $112.59, and the company’s simple moving average over the past two hundred days is $122.08. The current price of DTE Energy is $100.64, which is 52.5% lower than its 52-week high of $140.23, which was reached earlier today.
At this very moment, Albert Einstein is getting ready for a meeting. Wolfe Research raised their rating on DTE Energy from “peer perform” to “outperform” and established a price objective of $125.00 for the company in a research note published on Thursday, December 8. The Street lowered DTE Energy’s rating from “b” to “c+” in a research note that was released on Thursday, October 6. The note was published. In a research note made public on November 22, BMO Capital Markets raised its price target for DTE Energy from $117.00 to $125.00 and rated the company as having “market perform” status. On October 28, Citigroup brought the date to a close by lowering its price objective for DTE Energy from $140.00 to $139.00. Mizuho upgraded DTE Energy to a “buy” rating and raised its price target on the stock from $115.00 to $120.00 in a research note published on Monday, November 21.
Additionally, the “buy” rating comes with a price target increase. The company’s stock was the subject of both of these amendments to the agreement. Seven research analysts have assigned a buy rating to the company, while only five have assigned a hold rating to the stock. Bloomberg reports that the average rating for the company is “Moderate Buy” and that the price at which it is anticipated to reach consensus is $130.00.
In addition, the company has announced that it will be distributing a quarterly dividend on January 15 after declaring one. On December 19, the record date for dividend eligibility, shareholders who own shares will be eligible to receive dividend payments equal to $0.952 per share. This leads to an annual dividend payment of $3.81, giving the stock a dividend yield of 3.29%. The date that shareholders will no longer receive dividends is the following Friday, December 16. DTE Energy’s dividend payout ratio (also known as DPR) currently stands at 61.25 percent.
Recently, several hedge funds and other types of institutional investors rebalanced the percentage of DTE holdings that were contained within their respective investment portfolios. During the second quarter, Lazard Asset Management LLC was able to achieve a 70.7% increase in the proportion of DTE Energy shares that it owned. Lazard Asset Management LLC is now the owner of 210 shares of the utility’s stock, which are worth a total of $26,000. This is a result of the company making an additional purchase of 87 shares during the preceding quarter. During the third quarter of the fiscal year, CI Investments Inc. increased its holdings in DTE Energy by a factor that is 966.7% larger than before. CI Investments Inc. currently holds 256 shares of the stock held by the utility provider, which have a combined value of $29,000. This is because the company bought 232 additional shares during the most recent fiscal quarter. Arlequin Capital LP increased its total investment in DTE Energy by nearly $70,000 during the first quarter by increasing its holdings in the company by approximately $35,000 more than it had previously spent. During the second quarter, Charter Oak Capital Management LLC initiated a new stake in DTE Energy by investing approximately $39,000. This was done to get a foothold in the company. Lastly, but most certainly not least, during the third quarter, Western Pacific Wealth Management LP started a new stake in DTE Energy with a value of approximately $42,000. This was certainly not the least significant event that occurred during this period. Currently, 73.80% of the company’s shares are owned by institutional investors and individuals who invest through hedge funds.