DTE Energy (NYSE:DTE) Increases Dividend to $1.09 Per Share

DTE Energy (NYSE:DTE) declared a quarterly dividend on Tuesday, December 3rd,RTT News reports. Stockholders 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 dividend yield of 3.55%. 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% annually over the last three years and has increased its dividend annually for the last 15 consecutive years. DTE Energy has a payout ratio of 56.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect DTE Energy to earn $7.21 per share next year, which means the company should continue to be able to cover its $4.08 annual dividend with an expected future payout ratio of 56.6%.

DTE Energy Trading Down 0.5 %

Shares of DTE opened at $122.98 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.76. DTE Energy has a 12-month low of $102.17 and a 12-month high of $131.66. The firm has a market capitalization of $25.47 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 2.28 and a beta of 0.68. The stock’s fifty day simple moving average is $124.63 and its 200-day simple moving average is $120.15.

Wall Street Analysts Forecast Growth

DTE has been the subject of a number of recent analyst reports. Scotiabank upped their price objective on DTE Energy from $120.00 to $137.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. BMO Capital Markets upped their price objective on DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Morgan Stanley dropped their price objective on DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th. Finally, KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $132.29.

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.