DTE Energy Company (NYSE:DTE) to Issue Dividend Increase – $1.25 Per Share

DTE Energy Company (NYSE:DTE) announced a quarterly dividend on Thursday, November 5th. Stockholders of record on Monday, December 21st will be given a dividend of $1.2450 per share by the utilities provider on Friday, January 15th. This represents a $4.98 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, December 21st. This is a 6.9% increase from DTE Energy’s previous quarterly dividend of $1.1650.

DTE Energy has a payout ratio of 60.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect DTE Energy to earn $8.32 per share next year, which means the company should continue to be able to cover its $4.66 annual dividend with an expected future payout ratio of 56.0%.

DTE Energy Price Performance

Shares of NYSE:DTE traded down $2.56 during trading on Thursday, hitting $134.97. 2,682,460 shares of the stock were exchanged, compared to its average volume of 1,469,099. The company has a fifty day moving average price of $130.23 and a two-hundred day moving average price of $140.85. The company has a market cap of $28.09 billion, a PE ratio of 21.36, a P/E/G ratio of 2.75 and a beta of 0.35. The company has a current ratio of 0.80, a quick ratio of 0.53 and a debt-to-equity ratio of 2.13. DTE Energy has a 12-month low of $119.68 and a 12-month high of $155.74.

DTE Energy (NYSE:DTE) last released its quarterly earnings results on Thursday, November 5th. The utilities provider reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.15. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%. During the same period in the previous year, the company posted $2.01 EPS. On average, analysts forecast that DTE Energy will post 7.70 EPS for the current year.

Insider Buying and Selling at DTE Energy

In other news, Vice Chairman Trevor Lauer sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $135.71, for a total value of $678,550.00. Following the completion of the transaction, the insider owned 73,122 shares of the company’s stock, valued at $9,923,386.62. The trade was a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.60% of the stock is currently owned by corporate insiders.

Institutional Trading of DTE Energy

A number of hedge funds have recently bought and sold shares of the company. Callan Family Office LLC bought a new position in DTE Energy in the 2nd quarter worth about $1,438,000. Stack Financial Management Inc acquired a new stake in shares of DTE Energy in the second quarter valued at approximately $17,272,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of DTE Energy in the second quarter valued at approximately $2,236,000. Convergence Investment Partners LLC bought a new stake in shares of DTE Energy during the first quarter valued at approximately $3,142,000. Finally, BlackRock Inc. bought a new stake in shares of DTE Energy during the second quarter valued at approximately $3,915,284,000. Institutional investors and hedge funds own 76.06% of the company’s stock.

About DTE Energy

DTE Energy Co is a Detroit-based energy holding company that operates through regulated utility businesses and other energy-related activities. Its principal subsidiaries are DTE Electric and DTE Gas, which provide electricity and natural gas to residential, commercial and industrial customers across southeastern Michigan.

DTE Electric generates, transmits and distributes electricity, while DTE Gas transports and distributes natural gas through an extensive pipeline network. The company is also involved in renewable energy, energy services, natural gas storage and pipeline operations, and other nonutility activities designed to support the broader energy system.

DTE Energy traces its roots to the Detroit Edison Company, which was established in 1903 to serve the Detroit area.