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

DTE Energy (NYSE:DTE - Get Free Report) declared a quarterly dividend on Friday, May 3rd, Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a 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 Price Performance

Shares of DTE Energy stock traded up $0.89 during trading on Friday, hitting $112.80. The stock had a trading volume of 1,021,105 shares, compared to its average volume of 1,185,573. The business's 50-day moving average is $109.41 and its 200 day moving average is $106.53. The firm has a market cap of $23.34 billion, a price-to-earnings ratio of 18.45, a P/E/G ratio of 2.77 and a beta of 0.64. DTE Energy has a 12 month low of $90.14 and a 12 month high of $116.73. The company has a current ratio of 0.75, a quick ratio of 0.54 and a debt-to-equity ratio of 1.72.

DTE Energy (NYSE:DTE - Get Free Report) last released its quarterly earnings results on Thursday, April 25th. The utilities provider reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.04). DTE Energy had a net margin of 10.36% and a return on equity of 11.53%. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.81 billion. As a group, sell-side analysts anticipate that DTE Energy will post 6.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. BMO Capital Markets increased their price objective on DTE Energy from $111.00 to $113.00 and gave the company a "market perform" rating in a research report on Wednesday, April 17th. Morgan Stanley raised their target price on shares of DTE Energy from $108.00 to $109.00 and gave the stock an "overweight" rating in a report on Thursday, March 21st. Barclays raised their price target on DTE Energy from $115.00 to $119.00 and gave the stock an "overweight" rating in a research note on Tuesday. JPMorgan Chase & Co. upped their price objective on DTE Energy from $118.00 to $120.00 and gave the company a "neutral" rating in a research report on Wednesday, March 13th. Finally, KeyCorp upped their price target on shares of DTE Energy from $106.00 to $117.00 and gave the company an "overweight" rating in a research report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $115.50.

Insider Activity

In other DTE Energy news, SVP Joann Chavez sold 6,070 shares of the company's stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $109.19, for a total value of $662,783.30. Following the sale, the senior vice president now owns 16,667 shares of the company's stock, valued at $1,819,869.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Tracy J. Myrick sold 600 shares of the business's stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $107.04, for a total transaction of $64,224.00. Following the transaction, the chief accounting officer now directly owns 3,462 shares of the company's stock, valued at $370,572.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Joann Chavez sold 6,070 shares of DTE Energy stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $109.19, for a total value of $662,783.30. Following the sale, the senior vice president now owns 16,667 shares in the company, valued at $1,819,869.73. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,095 shares of company stock valued at $2,168,183. Company insiders own 0.61% of the company's stock.

DTE Energy Company Profile

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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