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

DTE Energy Company (NYSE:DTE - Get Free Report) announced a quarterly dividend on Thursday, June 19th, RTT News reports. Shareholders of record on Monday, September 15th will be paid a dividend of 1.09 per share by the utilities provider on Wednesday, October 15th. This represents a $4.36 annualized dividend and a yield of 3.31%.

DTE Energy has a payout ratio of 56.3% meaning its dividend is sufficiently covered by earnings. 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 Trading Down 0.2%

DTE stock traded down $0.24 during midday trading on Thursday, reaching $131.73. 1,564,997 shares of the company traded hands, compared to its average volume of 1,266,905. The firm has a market capitalization of $27.34 billion, a price-to-earnings ratio of 17.80, a P/E/G ratio of 2.39 and a beta of 0.45. DTE Energy has a 52-week low of $108.40 and a 52-week high of $140.39. The business has a 50 day moving average of $134.95 and a 200-day moving average of $129.31. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.59 and a current ratio of 0.87.

DTE Energy (NYSE:DTE - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.98 by $0.12. DTE Energy had a return on equity of 13.00% and a net margin of 11.25%. The company had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same period last year, the company earned $1.67 earnings per share. As a group, sell-side analysts expect that DTE Energy will post 7.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in DTE. Empowered Funds LLC boosted its stake in shares of DTE Energy by 200.7% during the first quarter. Empowered Funds LLC now owns 9,909 shares of the utilities provider's stock valued at $1,370,000 after purchasing an additional 6,614 shares in the last quarter. Intech Investment Management LLC lifted its holdings in DTE Energy by 6.5% during the first quarter. Intech Investment Management LLC now owns 12,687 shares of the utilities provider's stock worth $1,754,000 after buying an additional 773 shares during the period. Finally, Woodline Partners LP lifted its holdings in DTE Energy by 40.8% during the first quarter. Woodline Partners LP now owns 17,509 shares of the utilities provider's stock worth $2,421,000 after buying an additional 5,072 shares during the period. Hedge funds and other institutional investors own 76.06% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on DTE. Evercore ISI upped their target price on DTE Energy from $136.00 to $145.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Guggenheim upped their price objective on DTE Energy from $139.00 to $147.00 and gave the company a "buy" rating in a research report on Friday, March 21st. Barclays lowered DTE Energy from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $137.00 to $135.00 in a research note on Thursday, February 20th. Morgan Stanley lowered their target price on shares of DTE Energy from $136.00 to $134.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. Finally, BMO Capital Markets upped their price target on shares of DTE Energy from $135.00 to $142.00 and gave the stock a "market perform" rating in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $140.93.

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.

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