DTE Energy (DTE) To Go Ex-Dividend on December 16th

DTE Energy (NYSE:DTE) declared a quarterly dividend on Tuesday, December 3rd,RTT News reports. Investors of record on Monday, December 16th will be paid a dividend of 1.09 per share by the utilities provider on Wednesday, January 15th. This represents a $4.36 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend is Monday, December 16th. This is a positive change from DTE Energy’s previous quarterly dividend of $1.02.

DTE Energy has decreased its dividend payment by an average of 2.0% per year over the last three years and has raised its dividend every year for the last 16 years. DTE Energy has a payout ratio of 60.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect DTE Energy to earn $7.21 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 60.5%.

DTE Energy Trading Up 0.4 %

Shares of DTE stock opened at $121.27 on Friday. The company has a market capitalization of $25.12 billion, a P/E ratio of 16.43, a price-to-earnings-growth ratio of 2.23 and a beta of 0.68. 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 business’s 50 day moving average is $123.71 and its two-hundred day moving average is $120.47. DTE Energy has a twelve month low of $102.17 and a twelve month high of $131.66.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DTE. UBS Group upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $129.00 to $143.00 in a research report on Tuesday, December 3rd. KeyCorp lowered shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Barclays increased their price target on shares of DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Mizuho lifted their price objective on DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Finally, Scotiabank increased their target price on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research note on Thursday. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $134.31.

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.