DTE Energy Co (NYSE:DTE) declared a quarterly dividend on Thursday, June 18th, Zacks reports. Shareholders of record on Monday, September 21st will be paid a dividend of 1.013 per share by the utilities provider on Thursday, October 15th. This represents a $4.05 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date is Friday, September 18th.
DTE Energy has raised its dividend by 25.9% over the last three years and has increased its dividend every year for the last 1 years. DTE Energy has a dividend payout ratio of 60.7% meaning its dividend is sufficiently covered by earnings. Analysts expect DTE Energy to earn $7.07 per share next year, which means the company should continue to be able to cover its $4.05 annual dividend with an expected future payout ratio of 57.3%.
Shares of DTE Energy stock traded up $1.66 during trading hours on Wednesday, hitting $120.22. The company’s stock had a trading volume of 4,627 shares, compared to its average volume of 1,361,969. The business has a fifty day moving average of $117.36 and a 200 day moving average of $107.45. DTE Energy has a 1-year low of $71.21 and a 1-year high of $135.67. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 1.46. The company has a market capitalization of $22.84 billion, a PE ratio of 18.86, a P/E/G ratio of 3.13 and a beta of 0.59.
DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.22. DTE Energy had a net margin of 10.13% and a return on equity of 10.50%. The firm had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the prior year, the company earned $0.99 EPS. On average, sell-side analysts anticipate that DTE Energy will post 6.68 earnings per share for the current fiscal year.
A number of equities research analysts have recently issued reports on the company. BMO Capital Markets began coverage on DTE Energy in a research note on Thursday, July 9th. They issued an “outperform” rating and a $116.00 target price for the company. Barclays reaffirmed an “equal weight” rating and issued a $128.00 price objective on shares of DTE Energy in a research report on Friday, August 21st. Citigroup increased their price objective on shares of DTE Energy from $117.00 to $131.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. TheStreet raised shares of DTE Energy from a “c+” rating to a “b-” rating in a research report on Tuesday, June 9th. Finally, Morgan Stanley increased their price objective on shares of DTE Energy from $126.00 to $128.00 and gave the company an “equal weight” rating in a research report on Friday, August 14th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $126.86.
DTE Energy Company Profile
DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.2 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.
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