DTE Energy Co (NYSE:DTE) Plans $1.01 Quarterly Dividend

DTE Energy Co (NYSE:DTE) declared a quarterly dividend on Thursday, June 18th, Zacks reports. Stockholders of record on Monday, September 21st will be given a dividend of 1.013 per share by the utilities provider on Thursday, October 15th. This represents a $4.05 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Friday, September 18th.

DTE Energy has increased its dividend payment by 25.9% over the last three years and has increased its dividend every year for the last 1 years. DTE Energy has a payout ratio of 60.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect DTE Energy to earn $7.07 per share next year, which means the company should continue to be able to cover its $4.05 annual dividend with an expected future payout ratio of 57.3%.

Shares of DTE Energy stock opened at $119.95 on Wednesday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.65 and a current ratio of 0.83. DTE Energy has a 1 year low of $71.21 and a 1 year high of $135.67. The firm’s 50-day simple moving average is $117.36 and its 200-day simple moving average is $107.45. The firm has a market cap of $22.84 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 3.13 and a beta of 0.59.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.22. DTE Energy had a return on equity of 10.50% and a net margin of 10.13%. The firm had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same period in the previous year, the company earned $0.99 earnings per share. On average, equities analysts predict that DTE Energy will post 6.68 earnings per share for the current year.

Several research analysts have recently commented on DTE shares. TheStreet raised shares of DTE Energy from a “c+” rating to a “b-” rating in a report on Tuesday, June 9th. KeyCorp cut DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, July 21st. BMO Capital Markets began coverage on shares of DTE Energy in a report on Thursday, July 9th. They issued an “outperform” rating and a $116.00 price objective for the company. Morgan Stanley raised their target price on shares of DTE Energy from $126.00 to $128.00 and gave the company an “equal weight” rating in a research note on Friday, August 14th. Finally, Barclays reiterated an “equal weight” rating and issued a $128.00 price objective on shares of DTE Energy in a report on Friday, August 21st. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $126.86.

About DTE Energy

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.

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Dividend History for DTE Energy (NYSE:DTE)

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