10 Best Green Stocks To Buy According to Short Sellers

5. DTE Energy (NYSE:DTE)  

Short Interest as % of Shares Outstanding: 1.63%  

Number of Hedge Fund Investors in Q2 2024: 25  

DTE Energy (NYSE:DTE) has a history of 175 years and is Michigan’s largest utility provider.. The company serves approximately 2.3 million electric customers and 1.3 million natural gas customers across the state.

In Q4 2023, DTE Energy (NYSE:DTE) announced its $25 billion capital investment plan focused on enhancing the reliability of its electric and natural gas utility systems by modernizing infrastructure to better withstand extreme weather and facilitate the transition to green energy. The allocation of these funds includes $9 billion dedicated to upgrading electric distribution systems to improve reliability and service quality. Another $6 billion will be directed towards green energy projects, including solar and wind. Additionally, $5 billion is earmarked for enhancing natural gas infrastructure. As part of its long-term strategy, DTE Energy (NYSE:DTE) aims to phase out its 3,000 MW of coal-fired power plants by 2032 and achieve net-zero carbon emissions for its electric and gas utility operations by 2050. DTE Energy (NYSE:DTE) plans to invest over $4 billion in just 2024.

In Q1, DTE Energy (NYSE:DTE) reported a 25.6% increase in EPS and plans to grow its EPS annually by 6% to 8%. The company has increased its dividend by 6.1% annually over the past decade, outperforming the sector median of 5.2%.

As of the second quarter, 25 hedge funds hold stakes in DTE Energy (NYSE:DTE), with a total investment of $322.14 million. Soroban Capital Partners is the largest shareholder, with holdings valued at $840.74 million as of June 30. Analysts expect the company to increase its earnings by almost 15.45% this year. DTE Energy (NYSE:DTE) has a low short interest of 1.63%.