DTE Energy to Issue Quarterly Dividend of $1.02 (NYSE:DTE)

DTE Energy (NYSE:DTE) declared a quarterly dividend on Thursday, May 2nd, 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 payment by an average of 2.0% per year 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% meaning its dividend is sufficiently covered by earnings. 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 Trading Up 0.8 %

NYSE DTE opened at $112.80 on Friday. 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 firm has a market cap of $23.34 billion, a PE ratio of 18.46, a P/E/G ratio of 2.79 and a beta of 0.64. DTE Energy has a one year low of $90.14 and a one year high of $116.73. The firm’s fifty day moving average is $109.41 and its two-hundred day moving average is $106.53.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $3.81 billion. DTE Energy had a net margin of 10.36% and a return on equity of 11.53%. Analysts expect that DTE Energy will post 6.69 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Joann Chavez sold 6,070 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $109.19, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other DTE Energy news, VP Lisa A. Muschong sold 2,775 shares of DTE Energy stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $108.43, for a total transaction of $300,893.25. Following the completion of the transaction, the vice president now owns 5,469 shares in the company, valued at $593,003.67. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Joann Chavez sold 6,070 shares of DTE Energy stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $109.19, for a total transaction of $662,783.30. Following the transaction, the senior vice president now owns 16,667 shares of the company’s stock, valued at approximately $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. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

DTE has been the topic of a number of recent research reports. Morgan Stanley lifted their price objective on shares of DTE Energy from $108.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Scotiabank lowered their target price on shares of DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating on the stock in a report on Monday, April 22nd. Barclays lifted their target price on shares of DTE Energy from $115.00 to $119.00 and gave the company an “overweight” rating in a report on Tuesday. TheStreet raised shares of DTE Energy from a “c+” rating to a “b-” rating in a report on Friday, March 15th. Finally, Guggenheim downgraded shares of DTE Energy from a “buy” rating to a “neutral” rating and set a $111.00 target price on the stock. in a report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $115.50.

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.