Entropy Technologies LP Sells 20,089 Shares of DTE Energy Company (NYSE:DTE)

Key Points

• Entropy Technologies LP reduced its stake in DTE Energy by 75.1%, owning 6,672 shares after selling 20,089 shares, with a total holding value of $923,000.
• DTE Energy's quarterly earnings per share were reported at $1.36, missing estimates by $0.01, although revenue surpassed expectations at $2.91 billion.
• A quarterly dividend of $1.09 will be paid on October 15th, representing an annualized dividend of $4.36 and a yield of 3.1%.

Entropy Technologies LP reduced its holdings in DTE Energy Company (NYSE:DTE - Free Report) by 75.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,672 shares of the utilities provider's stock after selling 20,089 shares during the quarter. Entropy Technologies LP's holdings in DTE Energy were worth $923,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of DTE. Graypoint LLC lifted its holdings in shares of DTE Energy by 3.8% during the 1st quarter. Graypoint LLC now owns 2,021 shares of the utilities provider's stock worth $279,000 after acquiring an additional 74 shares during the period. UMB Bank n.a. increased its position in DTE Energy by 0.9% in the 1st quarter. UMB Bank n.a. now owns 9,041 shares of the utilities provider's stock valued at $1,250,000 after acquiring an additional 78 shares during the period. OneDigital Investment Advisors LLC increased its position in DTE Energy by 2.0% in the 1st quarter. OneDigital Investment Advisors LLC now owns 3,918 shares of the utilities provider's stock valued at $542,000 after acquiring an additional 78 shares during the period. Stephens Inc. AR increased its position in DTE Energy by 1.8% in the 1st quarter. Stephens Inc. AR now owns 4,555 shares of the utilities provider's stock valued at $630,000 after acquiring an additional 81 shares during the period. Finally, First American Bank increased its position in DTE Energy by 0.7% in the 1st quarter. First American Bank now owns 12,304 shares of the utilities provider's stock valued at $1,701,000 after acquiring an additional 85 shares during the period. Institutional investors and hedge funds own 76.06% of the company's stock.

Insiders Place Their Bets

In related news, VP Lisa A. Muschong sold 1,600 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $140.53, for a total value of $224,848.00. Following the sale, the vice president owned 4,153 shares in the company, valued at approximately $583,621.09. The trade was a 27.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Evercore ISI upped their price target on shares of DTE Energy from $136.00 to $145.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Wall Street Zen lowered shares of DTE Energy from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Wells Fargo & Company increased their target price on shares of DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. JPMorgan Chase & Co. increased their target price on shares of DTE Energy from $145.00 to $147.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Finally, Citigroup reissued a "buy" rating and set a $151.00 target price (up from $142.00) on shares of DTE Energy in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $142.29.

DTE Energy Stock Performance

NYSE DTE traded down $1.19 on Friday, reaching $138.74. 804,849 shares of the stock were exchanged, compared to its average volume of 1,401,030. DTE Energy Company has a one year low of $115.59 and a one year high of $141.54. The firm has a market capitalization of $28.80 billion, a PE ratio of 19.97, a PEG ratio of 2.81 and a beta of 0.42. The company's 50-day simple moving average is $135.29 and its two-hundred day simple moving average is $133.44. The company has a current ratio of 0.94, a quick ratio of 0.57 and a debt-to-equity ratio of 1.96.

DTE Energy (NYSE:DTE - Get Free Report) last released its earnings results on Tuesday, July 29th. The utilities provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.01). DTE Energy had a return on equity of 12.72% and a net margin of 10.16%. The company had revenue of $2.91 billion during the quarter, compared to analysts' expectations of $2.67 billion. Analysts expect that DTE Energy Company will post 7.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be given a $1.09 dividend. This represents a $4.36 annualized dividend and a yield of 3.1%. The ex-dividend date is Monday, September 15th. DTE Energy's payout ratio is currently 62.73%.

About DTE Energy

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.