DTE Energy (NYSE:DTE) Declares $1.02 Quarterly Dividend

DTE Energy (NYSE:DTE) announced a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Stockholders of record on Monday, June 17th will be given a dividend of 1.02 per share by the utilities provider on Monday, July 15th. This represents a $4.08 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend is Monday, June 17th.

DTE Energy has decreased its dividend 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 56.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect DTE Energy to earn $7.16 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 57.0%.

DTE Energy Price Performance

Shares of NYSE DTE opened at $112.14 on Friday. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.75 and a quick ratio of 0.54. The stock has a fifty day moving average price of $112.11 and a 200 day moving average price of $109.70. DTE Energy has a 1-year low of $90.14 and a 1-year high of $117.44. The company has a market cap of $23.21 billion, a PE ratio of 18.35, a P/E/G ratio of 2.04 and a beta of 0.67.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Thursday, April 25th. The utilities provider reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.04). DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.81 billion. Sell-side analysts forecast that DTE Energy will post 6.7 EPS for the current year.

Insider Activity

In related news, COO Mark W. Stiers sold 10,000 shares of DTE Energy stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $116.00, for a total transaction of $1,160,000.00. Following the completion of the sale, the chief operating officer now owns 41,921 shares in the company, valued at approximately $4,862,836. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Vice Chairman Trevor F. Lauer sold 3,500 shares of DTE Energy stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $115.07, for a total transaction of $402,745.00. Following the completion of the sale, the insider now owns 59,475 shares in the company, valued at approximately $6,843,788.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Mark W. Stiers sold 10,000 shares of DTE Energy stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $116.00, for a total value of $1,160,000.00. Following the completion of the sale, the chief operating officer now owns 41,921 shares of the company’s stock, valued at approximately $4,862,836. The disclosure for this sale can be found here. Insiders sold a total of 14,698 shares of company stock worth $1,702,444 over the last 90 days. 0.61% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. KeyCorp increased their price target on DTE Energy from $117.00 to $125.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Morgan Stanley raised their target price on DTE Energy from $108.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Scotiabank reduced their target price on DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating for the company in a report on Monday, April 22nd. BMO Capital Markets raised their target price on DTE Energy from $111.00 to $113.00 and gave the company a “market perform” rating in a report on Wednesday, April 17th. Finally, TheStreet raised DTE Energy from a “c+” rating to a “b-” rating in a report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $115.44.

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.