DTE Energy (NYSE:DTE) Announces Quarterly Dividend of $1.09

DTE Energy (NYSE:DTE) announced a quarterly dividend on Tuesday, December 3rd,RTT News reports. Shareholders of record on Monday, December 16th will be paid a dividend of 1.09 per share by the utilities provider on Wednesday, January 15th. This represents a $4.36 annualized dividend and a yield of 3.55%. This is an increase from DTE Energy’s previous quarterly dividend of $1.02.

DTE Energy has decreased its dividend by an average of 2.0% annually over the last three years and has raised its dividend annually for the last 15 consecutive years. DTE Energy has a payout ratio of 56.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect DTE Energy to earn $7.21 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 56.6%.

DTE Energy Price Performance

Shares of NYSE:DTE opened at $122.98 on Wednesday. The firm has a 50 day moving average of $124.63 and a 200-day moving average of $120.15. The stock has a market capitalization of $25.47 billion, a PE ratio of 16.66, a PEG ratio of 2.28 and a beta of 0.68. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 1.76. DTE Energy has a 12 month low of $102.17 and a 12 month high of $131.66.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on DTE shares. Wells Fargo & Company boosted their target price on shares of DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Morgan Stanley dropped their target price on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $129.00 to $143.00 in a report on Tuesday. Mizuho lifted their price target on shares of DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Finally, Jefferies Financial Group initiated coverage on shares of DTE Energy in a report on Monday, October 21st. They set a “hold” rating and a $137.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $132.29.

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.