DTE Energy Co.’s filing revealed that its President & COO – DTE Gas Richard Robert A. unloaded Company’s shares for reported $0.51 million on Feb 27 ’24. In the deal valued at $107.25 per share,4,800 shares were sold. As a result of this transaction, Richard Robert A. now holds 26,118 shares worth roughly $2.86 million.
Then, Harris Joi M. sold 3,000 shares, generating $325,470 in total proceeds. Upon selling the shares at $108.49, the President & COO now owns 18,961 shares.
Before that, Myrick Tracy J sold 600 shares. DTE Energy Co. shares valued at $64,224 were divested by the Chief Accounting Officer at a price of $107.04 per share. As a result of the transaction, Myrick Tracy J now holds 3,462 shares, worth roughly $0.38 million.
Guggenheim downgraded its DTE Energy Co. [DTE] rating to a Neutral from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Wolfe Research’s analysts, who decreased its forecast for the stock in mid January from “an Outperform” to “a Peer perform”. Seaport Research Partners also remained covering DTE and has decreased its forecast on January 08, 2024 with a “Neutral” recommendation from previously “Buy” rating. KeyBanc Capital Markets revised its rating on October 05, 2023. It rated DTE as “an Overweight” which previously was an “a Sector weight”.
Price Performance Review of DTE
On Monday, DTE Energy Co. [NYSE:DTE] saw its stock jump 0.37% to $109.50. Over the last five days, the stock has lost -1.11%. DTE Energy Co. shares have fallen nearly -0.69% since the year began. Nevertheless, the stocks have fallen -2.35% over the past one year. While a 52-week high of $116.73 was reached on 03/11/24, a 52-week low of $90.14 was recorded on 01/24/24. SMA at 50 days reached $108.22, while 200 days put it at $106.24. A total of 1.16 million shares were traded, compared to the trading of 0.22 million shares in the previous session.
Levels Of Support And Resistance For DTE Stock
The 24-hour chart illustrates a support level at 108.81, which if violated will result in even more drops to 108.13. On the upside, there is a resistance level at 110.22. A further resistance level may holdings at 110.95. The Relative Strength Index (RSI) on the 14-day chart is 49.76, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.45, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 55.25%. Stochastics %K at 42.66% indicates the stock is a holding.
How much short interest is there in DTE Energy Co.?
A steep rise in short interest was recorded in DTE Energy Co. stocks on Mar 15, 2024, growing by 0.54 million shares to a total of 3.23 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 2.69 million shares. There was a rise of 16.72%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.01% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.74.
The most recent change occurred on August 23, 2023 when Barclays began covering the stock and recommended ‘”an Overweight”‘ rating along with a $117 price target.
