DTE Energy Co (NYSE:DTE) announced a quarterly dividend on Thursday, June 20th, RTT News reports. Shareholders of record on Monday, September 16th will be given a dividend of 0.945 per share by the utilities provider on Tuesday, October 15th. This represents a $3.78 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Friday, September 13th.
DTE Energy has raised its dividend by an average of 8.0% per year over the last three years and has increased its dividend annually for the last 7 consecutive years. DTE Energy has a dividend payout ratio of 61.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect DTE Energy to earn $6.56 per share next year, which means the company should continue to be able to cover its $3.78 annual dividend with an expected future payout ratio of 57.6%.
Shares of DTE stock opened at $128.57 on Wednesday. DTE Energy has a 1-year low of $106.41 and a 1-year high of $132.50. The firm has a market cap of $23.46 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 3.43 and a beta of 0.22. The company has a 50-day moving average of $129.07 and a two-hundred day moving average of $126.89. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.75 and a quick ratio of 0.54.
In other news, Director Gary Torgow acquired 1,537 shares of DTE Energy stock in a transaction dated Thursday, September 5th. The shares were acquired at an average cost of $129.95 per share, for a total transaction of $199,733.15. Following the acquisition, the director now owns 2,537 shares of the company’s stock, valued at $329,683.15. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Gerard M. Anderson sold 11,500 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $128.02, for a total transaction of $1,472,230.00. Following the completion of the sale, the chairman now owns 80,406 shares in the company, valued at $10,293,576.12. The disclosure for this sale can be found here. 0.55% of the stock is owned by corporate insiders.
A number of analysts have issued reports on DTE shares. Wells Fargo & Co raised DTE Energy from a “market perform” rating to an “outperform” rating and set a $145.00 target price on the stock in a research report on Monday, August 26th. KeyCorp assumed coverage on DTE Energy in a research note on Tuesday, June 4th. They set an “overweight” rating and a $136.00 price target on the stock. Bank of America lowered their price target on DTE Energy from $124.00 to $122.00 and set an “underperform” rating for the company in a research report on Monday, June 3rd. ValuEngine lowered DTE Energy from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Finally, Barclays restated a “hold” rating and set a $131.00 target price on shares of DTE Energy in a report on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $128.64.
About DTE Energy
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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