DTE Energy Co. to Issue Quarterly Dividend of $0.77 (DTE)
DTE Energy Co. (NYSE:DTE) declared a quarterly dividend on Tuesday, October 18th. Investors of record on Thursday, December 15th will be paid a dividend of 0.77 per share on Sunday, January 1st. This represents a $3.08 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Tuesday, December 13th.
Shares of DTE Energy (NYSE:DTE) traded up 0.49% on Tuesday, reaching $92.84. 1,239,579 shares of the company were exchanged. The firm has a market capitalization of $16.66 billion, a PE ratio of 22.42 and a beta of 0.25. DTE Energy has a 12-month low of $77.35 and a 12-month high of $100.45. The company’s 50 day moving average is $93.25 and its 200 day moving average is $93.21.
DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.09. The business earned $2.26 billion during the quarter, compared to analysts’ expectations of $2.36 billion. DTE Energy had a net margin of 7.51% and a return on equity of 10.00%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the company posted $0.76 earnings per share. Analysts forecast that DTE Energy will post $5.15 earnings per share for the current year.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of DTE Energy from a “hold” rating to a “buy” rating and set a $106.00 price objective for the company in a report on Monday, June 20th. Barclays PLC reiterated a “buy” rating and set a $108.00 price objective on shares of DTE Energy in a report on Thursday, July 28th. Macquarie lifted their price objective on shares of DTE Energy from $105.00 to $107.00 and gave the company an “outperform” rating in a report on Tuesday, September 27th. BMO Capital Markets reiterated a “hold” rating on shares of DTE Energy in a report on Wednesday, June 22nd. Finally, KeyCorp reiterated an “outperform” rating and set a $102.50 price objective (up from $97.00) on shares of DTE Energy in a report on Saturday, July 2nd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $103.20.
In related news, Chairman Gerard M. Anderson sold 17,500 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $97.96, for a total transaction of $1,714,300.00. Following the transaction, the chairman now directly owns 77,500 shares of the company’s stock, valued at $7,591,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.93% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in DTE. Arvest Bank Trust Division raised its stake in shares of DTE Energy by 1.0% in the second quarter. Arvest Bank Trust Division now owns 125,077 shares of the company’s stock valued at $12,397,000 after buying an additional 1,281 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of DTE Energy during the second quarter valued at approximately $424,000. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of DTE Energy by 58.8% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 221,449 shares of the company’s stock valued at $21,950,000 after buying an additional 82,032 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of DTE Energy during the second quarter valued at approximately $241,000. Finally, AHL Partners LLP raised its stake in shares of DTE Energy by 857.8% in the second quarter. AHL Partners LLP now owns 64,106 shares of the company’s stock valued at $6,354,000 after buying an additional 57,413 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors.
About DTE Energy
DTE Energy Company (DTE Energy) is a diversified energy company. DTE Energy’s utility operations consist primarily of DTE Electric Company (DTE Electric) and DTE Gas Company (DTE Gas). The Company’s segments include Electric, Gas, Gas Storage and Pipelines, Power and Industrial Projects, Energy Trading, and Corporate and Other.
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