DTE Energy (NYSE:DTE) to Issue Quarterly Dividend of $1.09

DTE Energy (NYSE:DTE) declared a quarterly dividend on Thursday, February 6th, RTT News reports. Investors of record on Monday, March 17th will be paid a dividend of 1.09 per share by the utilities provider on Tuesday, April 15th. This represents a $4.36 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Monday, March 17th.

DTE Energy has increased its dividend payment by an average of 2.3% per year over the last three years and has increased its dividend annually for the last 16 consecutive years. DTE Energy has a payout ratio of 56.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect DTE Energy to earn $7.70 per share next year, which means the company should continue to be able to cover its $4.36 annual dividend with an expected future payout ratio of 56.6%.

DTE Energy Stock Up 2.0 %

Shares of NYSE:DTE opened at $135.42 on Friday. The stock has a market cap of $28.07 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 2.41 and a beta of 0.59. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. DTE Energy has a 12-month low of $103.06 and a 12-month high of $136.28. The business’s 50 day moving average is $125.78 and its 200 day moving average is $124.47.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.01. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. On average, sell-side analysts forecast that DTE Energy will post 7.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DTE. Scotiabank boosted their price objective on DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research note on Thursday, December 12th. BMO Capital Markets upped their target price on DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Barclays lowered DTE Energy from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $137.00 to $135.00 in a research note on Thursday, February 20th. Morgan Stanley decreased their target price on DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Finally, StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, DTE Energy has an average rating of “Moderate Buy” and a consensus price target of $137.09.

Insider Activity at DTE Energy

In other DTE Energy news, COO Matthew T. Paul sold 3,801 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $129.56, for a total value of $492,457.56. Following the completion of the sale, the chief operating officer now owns 6,951 shares in the company, valued at approximately $900,571.56. This trade represents a 35.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Tracy J. Myrick sold 1,014 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total value of $131,738.88. Following the completion of the sale, the chief accounting officer now owns 3,437 shares of the company’s stock, valued at approximately $446,535.04. This trade represents a 22.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,877 shares of company stock worth $1,559,205 in the last ninety days. 0.28% of the stock is 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.