DTE Energy (NYSE:DTE) Plans Quarterly Dividend of $1.02

DTE Energy (NYSE:DTE) declared a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Stockholders of record on Monday, June 17th will be given a dividend of 1.02 per share by the utilities provider on Monday, July 15th. This represents a $4.08 annualized dividend and a dividend yield of 3.62%. The ex-dividend date is Monday, June 17th.

DTE Energy has decreased its dividend by an average of 2.0% annually over the last three years and has increased its dividend annually for the last 15 consecutive years. DTE Energy has a dividend payout ratio of 57.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect DTE Energy to earn $7.16 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 57.0%.

DTE Energy Stock Up 0.8 %

DTE Energy stock opened at $112.80 on Friday. DTE Energy has a one year low of $90.14 and a one year high of $116.73. The stock has a market cap of $23.34 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 2.79 and a beta of 0.64. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.54 and a current ratio of 0.75. The stock has a fifty day moving average of $109.41 and a 200 day moving average of $106.53.

DTE Energy (NYSE:DTE) last announced its earnings results on Thursday, April 25th. The utilities provider reported $1.67 EPS for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.04). The business had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.81 billion. DTE Energy had a net margin of 10.36% and a return on equity of 11.53%. As a group, sell-side analysts predict that DTE Energy will post 6.69 EPS for the current year.

Analysts Set New Price Targets

DTE has been the subject of a number of analyst reports. Wolfe Research cut DTE Energy from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, January 16th. Barclays increased their price objective on shares of DTE Energy from $115.00 to $119.00 and gave the stock an “overweight” rating in a research note on Tuesday. Scotiabank reduced their price objective on shares of DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating for the company in a research note on Monday, April 22nd. BMO Capital Markets increased their target price on DTE Energy from $111.00 to $113.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 17th. Finally, TheStreet raised shares of DTE Energy from a “c+” rating to a “b-” rating in a research note on Friday, March 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.50.

Insider Transactions at DTE Energy

In other news, COO Matthew T. Paul sold 5,850 shares of DTE Energy stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $106.92, for a total value of $625,482.00. Following the completion of the transaction, the chief operating officer now owns 6,951 shares in the company, valued at approximately $743,200.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other DTE Energy news, COO Matthew T. Paul sold 5,850 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $106.92, for a total transaction of $625,482.00. Following the transaction, the chief operating officer now owns 6,951 shares in the company, valued at $743,200.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Robert A. Richard sold 4,800 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $107.25, for a total transaction of $514,800.00. Following the transaction, the chief operating officer now owns 26,118 shares in the company, valued at approximately $2,801,155.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,095 shares of company stock worth $2,168,183. 0.61% of the stock is currently owned by company insiders.

About DTE Energy

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.