DTE Energy (NYSE:DTE) Announces Quarterly Dividend of $1.02

DTE Energy (NYSE:DTEGet Free Report) announced a quarterly dividend on Thursday, February 1st, Wall Street Journal reports. Investors of record on Monday, March 18th will be given a dividend of 1.02 per share by the utilities provider on Monday, April 15th. This represents a $4.08 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date is Friday, March 15th.

DTE Energy has decreased its dividend payment by an average of 2.0% annually over the last three years and has raised its dividend every year for the last 15 years. DTE Energy has a dividend payout ratio of 56.9% indicating that its dividend is sufficiently covered by earnings. Equities 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

DTE opened at $111.06 on Thursday. The stock has a market cap of $22.98 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 2.81 and a beta of 0.64. DTE Energy has a 1 year low of $90.14 and a 1 year high of $116.73. The company has a current ratio of 0.60, a quick ratio of 0.42 and a debt-to-equity ratio of 1.58. The stock has a fifty day moving average price of $107.43 and a 200 day moving average price of $104.67.

DTE Energy (NYSE:DTEGet Free Report) last released its quarterly earnings data on Thursday, February 8th. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.01. The firm had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $4.97 billion. DTE Energy had a return on equity of 11.00% and a net margin of 10.96%. During the same quarter last year, the firm earned $1.31 earnings per share. Analysts forecast that DTE Energy will post 6.7 EPS for the current fiscal year.

Insider Transactions at DTE Energy

In other news, COO Matthew T. Paul sold 5,850 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $106.92, for a total value of $625,482.00. Following the transaction, the chief operating officer now directly owns 6,951 shares of the company’s stock, valued at approximately $743,200.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other DTE Energy news, VP Lisa A. Muschong sold 2,775 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $108.43, for a total transaction of $300,893.25. Following the completion of the sale, the vice president now owns 5,469 shares in the company, valued at approximately $593,003.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Matthew T. Paul sold 5,850 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $106.92, for a total transaction of $625,482.00. Following the sale, the chief operating officer now owns 6,951 shares of the company’s stock, valued at approximately $743,200.92. The disclosure for this sale can be found here. Insiders have sold 20,095 shares of company stock valued at $2,168,183 in the last three months. 0.23% of the stock is owned by corporate insiders.

Institutional Trading of DTE Energy

A number of large investors have recently made changes to their positions in DTE. Millennium Management LLC increased its position in shares of DTE Energy by 224.8% in the 4th quarter. Millennium Management LLC now owns 2,379,882 shares of the utilities provider’s stock valued at $279,708,000 after buying an additional 1,647,053 shares in the last quarter. Vanguard Group Inc. lifted its stake in DTE Energy by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 23,028,699 shares of the utilities provider’s stock valued at $3,044,624,000 after purchasing an additional 1,420,586 shares during the last quarter. Royal Bank of Canada lifted its stake in DTE Energy by 145.4% in the 4th quarter. Royal Bank of Canada now owns 1,153,230 shares of the utilities provider’s stock valued at $127,155,000 after purchasing an additional 683,250 shares during the last quarter. Morgan Stanley lifted its position in DTE Energy by 34.8% during the fourth quarter. Morgan Stanley now owns 2,045,650 shares of the utilities provider’s stock worth $240,425,000 after acquiring an additional 527,592 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its position in DTE Energy by 5,116.7% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 401,688 shares of the utilities provider’s stock worth $47,210,000 after acquiring an additional 393,988 shares during the last quarter. Institutional investors own 74.72% of the company’s stock.

Wall Street Analysts Forecast Growth

DTE has been the topic of a number of recent analyst reports. Barclays dropped their price objective on DTE Energy from $113.00 to $112.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 13th. Wolfe Research lowered DTE Energy from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 16th. KeyCorp lifted their price objective on DTE Energy from $106.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, January 4th. Guggenheim lowered DTE Energy from a “buy” rating to a “neutral” rating and set a $111.00 price target on the stock. in a research note on Monday, January 22nd. Finally, BMO Capital Markets lowered their price target on DTE Energy from $113.00 to $111.00 and set a “market perform” rating on the stock in a research note on Monday, February 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $114.33.

Get Our Latest Report on DTE

About DTE Energy

(Get Free Report)

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.

Featured Stories

Dividend History for DTE Energy (NYSE:DTE)

Receive News & Ratings for DTE Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DTE Energy and related companies with MarketBeat.com's FREE daily email newsletter.