DTE Energy (NYSE:DTE) Plans Quarterly Dividend of $1.02

DTE Energy (NYSE:DTE) declared a quarterly dividend on Thursday, June 20th, Zacks reports. Shareholders of record on Monday, September 16th will be paid a dividend of 1.02 per share by the utilities provider on Tuesday, October 15th. This represents a $4.08 annualized dividend and a yield of 3.24%. The ex-dividend date is Monday, September 16th.

DTE Energy has decreased its dividend by an average of 2.0% per year over the last three years and has raised its dividend annually for the last 15 consecutive years. DTE Energy has a dividend payout ratio of 56.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect DTE Energy to earn $7.18 per share next year, which means the company should continue to be able to cover its $4.08 annual dividend with an expected future payout ratio of 56.8%.

DTE Energy Trading Up 1.2 %

NYSE DTE traded up $1.46 on Friday, hitting $125.95. The company’s stock had a trading volume of 806,489 shares, compared to its average volume of 1,075,864. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 1.73. DTE Energy has a 1-year low of $90.14 and a 1-year high of $127.59. The company’s 50-day moving average is $120.40 and its 200 day moving average is $114.40. The firm has a market cap of $26.06 billion, a PE ratio of 20.61, a PEG ratio of 2.28 and a beta of 0.67.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.22. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. The company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same period in the prior year, the firm posted $0.99 EPS. As a group, analysts predict that DTE Energy will post 6.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Scotiabank increased their target price on shares of DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company raised their price objective on shares of DTE Energy from $125.00 to $133.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Morgan Stanley raised their price objective on shares of DTE Energy from $114.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Mizuho increased their target price on shares of DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Sunday, August 11th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.17.

DTE Energy Company Profile

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.