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

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

DTE Energy has raised its dividend by an average of 2.3% annually over the last three years. DTE Energy has a dividend payout ratio of 56.3% indicating that its dividend is sufficiently covered by earnings. Equities 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 %

DTE Energy stock traded down $0.15 during mid-day trading on Thursday, reaching $122.54. The company’s stock had a trading volume of 1,056,700 shares, compared to its average volume of 1,097,063. The business’s 50 day simple moving average is $121.04 and its 200 day simple moving average is $122.72. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.62 and a current ratio of 0.83. DTE Energy has a 12 month low of $102.78 and a 12 month high of $131.66. The company has a market capitalization 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.

Analysts Set New Price Targets

Several research analysts have weighed in on DTE shares. UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $129.00 to $143.00 in a report on Tuesday, December 3rd. Guggenheim upgraded DTE Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 24th. Finally, Jefferies Financial Group started coverage on shares of DTE Energy in a research report on Monday, October 21st. They issued a “hold” rating and a $137.00 target price for the company. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.