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

DTE Energy (NYSE:DTE) announced a quarterly dividend on Thursday, June 20th, Zacks reports. Investors of record on Monday, September 16th will be paid a dividend of 1.02 per share by the utilities provider on Tuesday, October 15th. This represents a $4.08 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Monday, September 16th.

DTE Energy has decreased its dividend payment by an average of 2.0% annually over the last three years and has increased its dividend every year for the last 15 years. DTE Energy has a payout ratio of 56.8% meaning its dividend is sufficiently covered by earnings. Analysts expect DTE Energy to earn $7.18 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 56.8%.

DTE Energy Price Performance

Shares of DTE opened at $125.95 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 1.73. DTE Energy has a twelve month low of $90.14 and a twelve month high of $127.59. The stock has a market capitalization of $26.06 billion, a P/E ratio of 20.61, a P/E/G ratio of 2.28 and a beta of 0.67. The company has a 50 day moving average of $120.40 and a 200-day moving average of $114.45.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.22. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same period in the previous year, the business earned $0.99 EPS. As a group, equities research analysts forecast that DTE Energy will post 6.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DTE has been the subject of several recent research reports. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, August 11th. Morgan Stanley upped their price target on shares of DTE Energy from $114.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Scotiabank upped their target price on shares of DTE Energy from $120.00 to $137.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Bank of America boosted their price target on DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Wells Fargo & Company lifted their target price on DTE Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $127.17.

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.