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. Investors of record on Monday, June 17th will be paid 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 dividend yield of 3.62%. The ex-dividend date of this dividend 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 every year for the last 15 years. DTE Energy has a payout ratio of 57.0% meaning its dividend is sufficiently covered by earnings. Research 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 %

Shares of NYSE:DTE opened at $112.80 on Friday. The stock has a 50 day moving average of $109.41 and a 200 day moving average of $106.53. The company has a market cap of $23.34 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 2.79 and a beta of 0.64. 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 has a 12-month low of $90.14 and a 12-month high of $116.73.

DTE Energy (NYSE:DTE) last posted 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 return on equity of 11.53% and a net margin of 10.36%. The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.81 billion. As a group, equities research analysts expect that DTE Energy will post 6.69 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Scotiabank dropped their price target on DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating for the company in a research note on Monday, April 22nd. Wolfe Research downgraded DTE Energy from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 16th. JPMorgan Chase & Co. upped their price target on DTE Energy from $118.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 13th. BMO Capital Markets increased their target price 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. Finally, TheStreet upgraded DTE Energy from a “c+” rating to a “b-” rating in a research report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $115.50.

Insider Buying and Selling

In related news, SVP Joann Chavez sold 6,070 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 16,667 shares in the company, valued at $1,819,869.73. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Joann Chavez sold 6,070 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 16,667 shares in the company, valued at $1,819,869.73. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Robert A. Richard sold 4,800 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $107.25, for a total value of $514,800.00. Following the completion of the sale, the chief operating officer now owns 26,118 shares of the company’s stock, valued at $2,801,155.50. The disclosure for this sale can be found here. Insiders sold a total of 20,095 shares of company stock worth $2,168,183 over the last three months. 0.61% of the stock is owned by 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.