DTE Energy to Issue Quarterly Dividend of $1.09 (NYSE:DTE)

DTE Energy (NYSE:DTE) announced a quarterly dividend on Thursday, February 6th,RTT News reports. Investors 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 yield of 3.56%.

DTE Energy has increased its dividend payment by an average of 2.3% per year over the last three years. DTE Energy has a dividend payout ratio of 56.3% indicating that its dividend is sufficiently covered by earnings. Research 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 Performance

DTE opened at $122.54 on Friday. The company has a 50 day simple moving average of $121.04 and a two-hundred day simple moving average of $122.72. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62. The firm has a market cap of $25.38 billion, a P/E ratio of 16.60, a PEG ratio of 2.20 and a beta of 0.68. DTE Energy has a 1-year low of $102.78 and a 1-year high of $131.66.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on DTE shares. KeyCorp lowered shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Guggenheim raised shares of DTE Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Scotiabank boosted their price target on shares of DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research note on Thursday, December 12th. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 24th. Finally, Wells Fargo & Company boosted their target price on DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus 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.