DTE Energy Co (NYSE:DTE) declared a quarterly dividend on Thursday, June 18th, Zacks reports. Investors 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 dividend yield of 3.40%. The ex-dividend date is Friday, September 18th.
DTE Energy has raised its dividend by 25.9% over the last three years and has raised its dividend annually for the last 1 consecutive years. DTE Energy has a payout ratio of 60.7% meaning its dividend is sufficiently covered by earnings. Research 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 NYSE:DTE traded up $0.78 during mid-day trading on Wednesday, reaching $119.34. 3,084 shares of the company traded hands, compared to its average volume of 1,361,969. The company’s 50 day moving average price is $117.36 and its 200-day moving average price is $107.45. The firm has a market cap of $22.84 billion, a PE ratio of 18.73, a PEG ratio of 3.13 and a beta of 0.59. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.83 and a quick ratio of 0.65. DTE Energy has a 52 week low of $71.21 and a 52 week high of $135.67.
DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.22. DTE Energy had a return on equity of 10.50% and a net margin of 10.13%. The business had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the prior year, the company posted $0.99 EPS. On average, research analysts predict that DTE Energy will post 6.68 earnings per share for the current fiscal year.
Several research analysts have weighed in on the company. TheStreet upgraded DTE Energy from a “c+” rating to a “b-” rating in a research note on Tuesday, June 9th. Seaport Global Securities initiated coverage on DTE Energy in a research report on Wednesday, May 20th. They set a “buy” rating and a $121.00 target price for the company. KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, July 21st. Morgan Stanley increased their target price on DTE Energy from $126.00 to $128.00 and gave the company an “equal weight” rating in a research report on Friday, August 14th. Finally, Citigroup increased their target price on DTE Energy from $117.00 to $131.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently 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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