DTE Energy Company (NYSE:DTE) Declares Quarterly Dividend of $1.17

DTE Energy Company (NYSE:DTE) declared a quarterly dividend on Thursday, February 5th. Shareholders of record on Monday, March 16th will be paid a dividend of 1.165 per share by the utilities provider on Wednesday, April 15th. This represents a c) dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Monday, March 16th.

DTE Energy has raised its dividend by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 16 consecutive years. DTE Energy has a dividend payout ratio of 60.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect DTE Energy to earn $7.70 per share next year, which means the company should continue to be able to cover its $4.66 annual dividend with an expected future payout ratio of 60.5%.

DTE Energy Trading Up 1.0%

DTE Energy stock opened at $137.47 on Friday. The firm has a market cap of $28.55 billion, a PE ratio of 20.64, a P/E/G ratio of 2.49 and a beta of 0.49. DTE Energy has a 12 month low of $121.44 and a 12 month high of $143.79. The stock’s 50 day simple moving average is $131.87 and its two-hundred day simple moving average is $136.12. The company has a current ratio of 1.15, a quick ratio of 0.68 and a debt-to-equity ratio of 2.01.

Analysts Set New Price Targets

Several analysts recently commented on DTE shares. BMO Capital Markets dropped their price target on shares of DTE Energy from $151.00 to $148.00 and set a “market perform” rating on the stock in a research report on Wednesday, December 24th. Wall Street Zen upgraded DTE Energy from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. UBS Group lowered their price target on DTE Energy from $155.00 to $151.00 and set a “buy” rating on the stock in a research report on Wednesday, December 17th. Scotiabank cut their price objective on DTE Energy from $147.00 to $146.00 and set a “sector perform” rating for the company in a research report on Friday, October 31st. Finally, Morgan Stanley upped their target price on DTE Energy from $142.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $147.69.

DTE Energy Company Profile

DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company’s utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.

Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.