DTE Energy Declares Quarterly Dividend of $1.09 (NYSE:DTE)

DTE Energy (NYSE:DTE) declared a quarterly dividend on Thursday, February 6th,RTT News reports. Investors 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 yield of 3.56%.

DTE Energy has raised its dividend 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. Equities research 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 Stock Down 0.1 %

NYSE:DTE opened at $122.54 on Friday. The company has a market cap of $25.38 billion, a price-to-earnings ratio of 16.60, a price-to-earnings-growth ratio of 2.20 and a beta of 0.68. DTE Energy has a twelve month low of $102.78 and a twelve month high of $131.66. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 1.76. The stock has a fifty day simple moving average of $121.04 and a 200-day simple moving average of $122.72.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group started coverage on shares of DTE Energy in a report on Monday, October 21st. They set a “hold” rating and a $137.00 price objective for the company. KeyCorp lowered DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Scotiabank increased their price objective on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research note on Thursday, December 12th. BMO Capital Markets lifted their target price on DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Finally, Morgan Stanley dropped their price target on DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.25.

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.