DTE Energy Co (NYSE:DTE) to Issue $0.95 Quarterly Dividend

DTE Energy Co (NYSE:DTE) declared a quarterly dividend on Thursday, June 20th, RTT News reports. Shareholders of record on Monday, September 16th will be paid a dividend of 0.945 per share by the utilities provider on Tuesday, October 15th. This represents a $3.78 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Friday, September 13th.

DTE Energy has increased its dividend by an average of 8.0% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. DTE Energy has a dividend payout ratio of 61.4% meaning its dividend is sufficiently covered by earnings. Analysts expect DTE Energy to earn $6.56 per share next year, which means the company should continue to be able to cover its $3.78 annual dividend with an expected future payout ratio of 57.6%.

Shares of DTE stock opened at $129.25 on Thursday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.75 and a quick ratio of 0.54. The company has a market cap of $23.52 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 3.43 and a beta of 0.22. The stock has a 50 day simple moving average of $129.10 and a 200-day simple moving average of $126.92. DTE Energy has a 1-year low of $106.41 and a 1-year high of $132.50.

DTE Energy (NYSE:DTE) last announced its earnings results on Wednesday, July 24th. The utilities provider reported $0.99 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by ($0.10). The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.98 billion. DTE Energy had a return on equity of 10.33% and a net margin of 8.09%. During the same period in the previous year, the company earned $1.36 earnings per share. Analysts anticipate that DTE Energy will post 6.21 earnings per share for the current fiscal year.

In other DTE Energy news, COO Mark W. Stiers sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $131.00, for a total value of $1,310,000.00. Following the completion of the sale, the chief operating officer now directly owns 17,111 shares in the company, valued at approximately $2,241,541. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Gerard M. Anderson sold 11,500 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $128.02, for a total value of $1,472,230.00. Following the completion of the sale, the chairman now owns 80,406 shares of the company’s stock, valued at $10,293,576.12. The disclosure for this sale can be found here. 0.55% of the stock is owned by corporate insiders.

Several research analysts have recently weighed in on the company. Bank of America reduced their target price on DTE Energy from $124.00 to $122.00 and set an “underperform” rating for the company in a research note on Monday, June 3rd. KeyCorp assumed coverage on DTE Energy in a research report on Tuesday, June 4th. They set an “overweight” rating and a $136.00 price target for the company. Wells Fargo & Co upgraded DTE Energy from a “market perform” rating to an “outperform” rating and set a $145.00 price target for the company in a research report on Monday, August 26th. Mizuho assumed coverage on DTE Energy in a research report on Monday, August 12th. They set a “neutral” rating and a $131.00 price target for the company. Finally, Barclays reiterated a “hold” rating and set a $131.00 price target on shares of DTE Energy in a research report on Thursday, June 20th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. DTE Energy presently has a consensus rating of “Hold” and an average price target of $128.64.

DTE Energy Company Profile

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.2 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.

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Dividend History for DTE Energy (NYSE:DTE)

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