Positive sentiment towards DTE reflected in decline in short interest


Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. DTE Energy Company shares valued at $283,825 were sold by Chavez JoAnn on Aug 02. At $113.53 per share, Chavez JoAnn sold 2,500 shares. The insider’s holdings dropped to 12,107 shares worth approximately $1.26 million following the completion of this transaction.

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Also, Muschong Lisa A. sold 700 shares, netting a total of over 77,287 in proceeds. Following the sale of shares at $110.41 each, the insider now holds 5,455 shares.

Before that, Myrick Tracy J had sold 585 shares from its account. In a trade valued at $64,338, the Chief Accounting Officer traded DTE Energy Company shares for $109.98 each. Upon closing the transaction, the insider’s holdings decreased to 585 shares, worth approximately $0.1 million.

As published in their initiating research note from Barclays on August 23, 2023, DTE Energy Company [DTE] has been an Overweight and the price target has been revised to $117. This represents a 10.73% premium over Thursday’s closing price.

Analyzing DTE Stock Performance

On Thursday, DTE Energy Company [NYSE: DTE] plunged -0.78% to $104.45. The stock’s lowest price that day was $104.30, but it reached a high of $106.715 in the same session. During the last five days, there has been a drop of approximately -0.39%. Over the course of the year, DTE Energy Company shares have dropped approximately -11.13%. Shares of the company reached a 52-week high of $121.32 on 01/11/23 and a 52-week low of $102.27 on 03/23/23. A 50-day SMA is recorded $110.42, while a 200-day SMA reached $112.17. Nevertheless, trading volume fell to 0.95 million shares from 1.17 million shares the previous day.

Support And Resistance Levels for DTE Energy Company (DTE)

According to the 24-hour chart, there is a support level at 103.60, which, if violated, would cause prices to drop to 102.74. In the upper region, resistance lies at 106.01. The next price resistance is at 107.57. RSI (Relative Strength Index) is 33.70 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.18, which suggests the price will decrease in the coming days. Percent R is at 92.49%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is DTE Energy Company subject to short interest?

Stocks of DTE Energy Company saw a sharp steep in short interest on Jul 30, 2023 dropping by -0.38 million shares to 1.93 million. Data from Yahoo Finance shows that the short interest on Jun 29, 2023 was 2.31 million shares. A decline of -19.69% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.91 of the overall float, the days-to-cover ratio (short ratio) decline to 1.91.

Which companies own the most shares of DTE Energy Company (DTE)?

According to The Vanguard Group, Inc. filings, the company currently owns 25,111,960 shares, which is about 12.18% of the total DTE shares outstanding. The investor’s shares have appreciated by 2,487,853 from its previous 13-F filing of 22624107.0 shares. With the completion of the buy transaction, Capital Research & Management Co’s stake is now worth $1,992,841,188. BlackRock Fund Advisors acquire a 0.55% interest valued at $1.6 billion while SSgA Funds Management, Inc. purchased a 484,072 stake. A total of 1,428,322 shares of DTE Energy Company were bought by Columbia Management Investment Ad during the quarter, and 339,827 were bought by Geode Capital Management LLC. In its current portfolio, T. Rowe Price Investment Manageme holds 4,178,841 shares valued at $477.64 million.

In terms of DTE Energy Company share price expectations, FactSet research, analysts set an average price target of $124.46 in the next 12 months, up nearly 17.79% from the previous closing price of $105.27. Analysts anticipate DTE Energy Company stock to reach $144.00 by 2023, with the lowest price target being $115.00. In spite of this, 17 analysts ranked DTE Energy Company stock as an Overweight at the end of 2023.


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