DTE Energy Co (NYSE:DTE) announced a quarterly dividend on Thursday, May 9th, RTT News reports. Investors of record on Monday, June 17th will be given a dividend of 0.945 per share by the utilities provider on Monday, July 15th. This represents a $3.78 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend is Friday, June 14th.
DTE Energy has increased its dividend payment by an average of 8.0% annually over the last three years and has increased its dividend every year for the last 7 years. DTE Energy has a payout ratio of 61.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect DTE Energy to earn $6.55 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 57.7%.
NYSE:DTE traded up $0.40 on Monday, hitting $128.28. The stock had a trading volume of 868,304 shares, compared to its average volume of 944,426. DTE Energy has a 1 year low of $101.88 and a 1 year high of $131.87. The firm’s fifty day simple moving average is $128.15. The firm has a market cap of $23.50 billion, a PE ratio of 20.36, a P/E/G ratio of 3.43 and a beta of 0.26. The company has a current ratio of 0.78, a quick ratio of 0.61 and a debt-to-equity ratio of 1.16.
In other DTE Energy news, CFO Peter B. Oleksiak sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $125.25, for a total transaction of $187,875.00. Following the completion of the sale, the chief financial officer now directly owns 40,208 shares of the company’s stock, valued at $5,036,052. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ruth G. Shaw bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were bought at an average price of $124.27 per share, with a total value of $248,540.00. Following the transaction, the director now owns 5,500 shares of the company’s stock, valued at approximately $683,485. The disclosure for this purchase can be found here. Insiders sold 21,737 shares of company stock valued at $2,744,715 over the last ninety days. Corporate insiders own 0.55% of the company’s stock.
Several research analysts recently commented on the stock. Zacks Investment Research raised shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. ValuEngine downgraded shares of DTE Energy from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. Barclays reissued a “hold” rating and issued a $131.00 price target on shares of DTE Energy in a report on Thursday, June 20th. KeyCorp began coverage on shares of DTE Energy in a report on Tuesday, June 4th. They issued an “overweight” rating and a $136.00 price target for the company. Finally, Bank of America lowered their price objective on shares of DTE Energy from $124.00 to $122.00 and set an “underperform” rating on the stock in a research report on Monday, June 3rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. DTE Energy presently has a consensus rating of “Hold” and a consensus target price of $123.31.
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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