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

DTE Energy (NYSE:DTE) declared a quarterly dividend on Thursday, June 20th, Zacks reports. Investors of record on Monday, September 16th will be given 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 payment by an average of 2.0% annually over the last three years and has increased its dividend every year for the last 15 years. DTE Energy has a dividend payout ratio of 56.8% indicating that 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 Stock Up 1.2 %

NYSE DTE opened at $125.95 on Friday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.69. DTE Energy has a 52 week low of $90.14 and a 52 week high of $127.59. The stock has a market capitalization of $26.06 billion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 2.28 and a beta of 0.67. The stock has a fifty day moving average of $120.40 and a 200-day moving average of $114.45.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.22. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. The firm had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same period last year, the company earned $0.99 earnings per share. On average, equities research analysts forecast that DTE Energy will post 6.7 EPS for the current year.

Wall Street Analysts Forecast Growth

DTE has been the topic of a number of recent research reports. Mizuho raised their price objective on shares of DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Scotiabank raised their price target on DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. BMO Capital Markets lifted their price objective on DTE Energy from $126.00 to $135.00 and gave the stock a “market perform” rating in a research note on Friday, September 6th. Wells Fargo & Company increased their target price on DTE Energy from $125.00 to $133.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, KeyCorp boosted their target price on DTE Energy from $117.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, DTE Energy presently has an average 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.