DTE Energy Company (DTE) To Go Ex-Dividend on December 21st

DTE Energy Company (NYSE:DTE) announced a quarterly dividend on Thursday, November 5th. Stockholders of record on Monday, December 21st will be paid a dividend of $1.2450 per share by the utilities provider on Friday, January 15th. This represents a $4.98 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, December 21st. This is a 6.9% increase from DTE Energy’s previous quarterly dividend of $1.1650.

DTE Energy has a dividend payout ratio of 60.2% meaning its dividend is sufficiently covered by earnings. Analysts expect DTE Energy to earn $8.32 per share next year, which means the company should continue to be able to cover its $4.66 annual dividend with an expected future payout ratio of 56.0%.

DTE Energy Trading Up 0.3%

Shares of DTE opened at $135.23 on Friday. DTE Energy has a 12-month low of $119.68 and a 12-month high of $155.74. The company has a quick ratio of 0.53, a current ratio of 0.80 and a debt-to-equity ratio of 2.13. The stock’s fifty day simple moving average is $130.16 and its 200-day simple moving average is $140.85. The firm has a market capitalization of $28.14 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 2.79 and a beta of 0.35.

DTE Energy (NYSE:DTE) last posted its earnings results on Thursday, November 5th. The utilities provider reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.17. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.61 billion. During the same quarter in the prior year, the business earned $2.01 earnings per share. As a group, research analysts predict that DTE Energy will post 7.70 earnings per share for the current year.

About DTE Energy

DTE Energy is a Detroit-based energy company whose core businesses are regulated electric and natural gas utilities in Michigan. Through DTE Electric, it generates, transmits and distributes electricity, while DTE Gas provides natural gas service to customers across the state.

The company also operates non-utility businesses, including energy marketing and trading and industrial energy services. These businesses develop energy solutions such as recovering energy from industrial processes and waste, alongside the company’s investments in renewable energy generation.

DTE Energy traces its roots to Detroit Edison, founded in 1886.