DTE Energy Co (DTE) Announces $0.95 Quarterly Dividend

DTE Energy Co (NYSE:DTE) announced a quarterly dividend on Thursday, January 31st, RTT News reports. Investors of record on Monday, March 18th will be given a dividend of 0.945 per share by the utilities provider on Monday, April 15th. This represents a $3.78 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend is Friday, March 15th.

DTE Energy has increased its dividend payment by an average of 8.0% per year over the last three years and has raised its dividend every year for the last 7 years. DTE Energy has a payout ratio of 61.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect DTE Energy to earn $6.51 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 58.1%.

NYSE DTE opened at $124.16 on Thursday. The firm has a market capitalization of $22.57 billion, a P/E ratio of 19.71, a P/E/G ratio of 3.34 and a beta of 0.26. DTE Energy has a twelve month low of $94.25 and a twelve month high of $124.45. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.73 and a quick ratio of 0.55.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, February 7th. The utilities provider reported $0.91 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.01). The company had revenue of $3.75 billion during the quarter, compared to analyst estimates of $2.35 billion. DTE Energy had a net margin of 7.88% and a return on equity of 10.85%. During the same quarter in the previous year, the company earned $1.26 earnings per share. On average, sell-side analysts anticipate that DTE Energy will post 6.18 EPS for the current fiscal year.

In other DTE Energy news, VP Lisa A. Muschong sold 2,616 shares of the stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $119.80, for a total transaction of $313,396.80. Following the completion of the sale, the vice president now directly owns 2,933 shares in the company, valued at approximately $351,373.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Gerard M. Anderson sold 11,000 shares of the stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $119.39, for a total value of $1,313,290.00. Following the sale, the chairman now owns 79,906 shares of the company’s stock, valued at $9,539,977.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,316 shares of company stock valued at $1,834,835. Company insiders own 0.59% of the company’s stock.

A number of research firms recently weighed in on DTE. Zacks Investment Research upgraded DTE Energy from a “hold” rating to a “buy” rating and set a $127.00 price objective for the company in a report on Thursday, January 24th. ValuEngine downgraded DTE Energy from a “buy” rating to a “hold” rating in a report on Monday, December 31st. Macquarie set a $123.00 price target on DTE Energy and gave the stock a “buy” rating in a report on Saturday, February 9th. Credit Suisse Group increased their price target on DTE Energy from $110.00 to $113.00 and gave the stock an “underperform” rating in a report on Monday, February 11th. Finally, Goldman Sachs Group initiated coverage on DTE Energy in a report on Wednesday, January 16th. They set a “buy” rating and a $121.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. DTE Energy has a consensus rating of “Hold” and an average target price of $117.42.

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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.

Further Reading: Risk Tolerance and Your Investment Decisions

Dividend History for DTE Energy (NYSE:DTE)

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