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

DTE Energy (NYSE:DTE) announced 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 dividend on an annualized basis 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% 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% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

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

DTE Energy (NYSE:DTE) last issued 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 firm had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the prior year, the company earned $0.99 EPS. On average, equities analysts predict that DTE Energy will post 6.7 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DTE. Mizuho raised their price target on DTE Energy from $121.00 to $133.00 and gave the stock an “outperform” rating in a research report on Tuesday. Scotiabank upped their target price on shares of DTE Energy from $120.00 to $137.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Wells Fargo & Company boosted their price objective on shares of DTE Energy from $125.00 to $133.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. LADENBURG THALM/SH SH began coverage on shares of DTE Energy in a research report on Wednesday, August 14th. They set a “buy” rating and a $131.00 target price on the stock. Finally, BMO Capital Markets lifted their target price on shares of DTE Energy from $126.00 to $135.00 and gave the stock a “market perform” rating in a research note on Friday, September 6th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, DTE Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.17.

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.