DTE Energy Co (NYSE:DTE) declared a quarterly dividend on Thursday, June 20th, RTT News reports. Stockholders of record on Monday, September 16th will be given a dividend of 0.945 per share by the utilities provider on Tuesday, October 15th. This represents a $3.78 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Friday, September 13th.

DTE Energy has raised its dividend by an average of 8.0% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. DTE Energy has a payout ratio of 61.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect DTE Energy to earn $6.56 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 57.6%.

DTE opened at $129.25 on Thursday. The business’s 50-day simple moving average is $129.10 and its 200-day simple moving average is $126.92. The company has a market cap of $23.52 billion, a P/E ratio of 20.52, a PEG ratio of 3.43 and a beta of 0.22. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.54 and a current ratio of 0.75. DTE Energy has a one year low of $106.41 and a one year high of $132.50.

DTE Energy (NYSE:DTE) last released its quarterly earnings results on Wednesday, July 24th. The utilities provider reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.10). The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.98 billion. DTE Energy had a return on equity of 10.33% and a net margin of 8.09%. During the same quarter in the prior year, the business earned $1.36 EPS. As a group, analysts predict that DTE Energy will post 6.21 earnings per share for the current fiscal year.

In other news, Chairman Gerard M. Anderson sold 11,500 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $128.02, for a total value of $1,472,230.00. Following the completion of the transaction, the chairman now directly owns 80,406 shares of the company’s stock, valued at $10,293,576.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Mark W. Stiers sold 10,000 shares of DTE Energy stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $131.00, for a total value of $1,310,000.00. Following the completion of the sale, the chief operating officer now directly owns 17,111 shares of the company’s stock, valued at approximately $2,241,541. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.

A number of research firms recently issued reports on DTE. KeyCorp began coverage on DTE Energy in a research note on Tuesday, June 4th. They set an “overweight” rating and a $136.00 price target on the stock. ValuEngine downgraded DTE Energy from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Barclays restated a “hold” rating and set a $131.00 price target on shares of DTE Energy in a research note on Thursday, June 20th. Mizuho began coverage on DTE Energy in a research note on Monday, August 12th. They set a “neutral” rating and a $131.00 price target on the stock. Finally, Bank of America dropped their price target on DTE Energy from $124.00 to $122.00 and set an “underperform” rating on the stock in a research note on Monday, June 3rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. DTE Energy currently has an average rating of “Hold” and a consensus price target of $128.64.

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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