DTE Energy (NYSE:DTE) to Issue Quarterly Dividend of $1.09

DTE Energy (NYSE:DTE) announced a quarterly dividend on Thursday, February 6th,RTT News reports. Stockholders of record on Monday, March 17th will be given a dividend of 1.09 per share by the utilities provider on Tuesday, April 15th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend is Monday, March 17th.

DTE Energy has increased its dividend payment by an average of 2.3% per year over the last three years. DTE Energy has a dividend payout ratio of 56.3% meaning its dividend is sufficiently covered by earnings. Analysts expect DTE Energy to earn $7.20 per share next year, which means the company should continue to be able to cover its $4.36 annual dividend with an expected future payout ratio of 60.6%.

DTE Energy Price Performance

DTE Energy stock opened at $122.68 on Friday. The business’s 50-day simple moving average is $120.97 and its 200 day simple moving average is $122.72. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.76. The stock has a market cap of $25.41 billion, a price-to-earnings ratio of 16.62, a P/E/G ratio of 2.20 and a beta of 0.68. DTE Energy has a 12-month low of $102.78 and a 12-month high of $131.66.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on DTE shares. KeyCorp lowered shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 24th. BMO Capital Markets upped their target price on shares of DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Scotiabank raised their price target on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. Finally, Wells Fargo & Company lifted their price objective on DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $136.25.

DTE Energy Company Profile

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.