DTE Energy (DTE) To Go Ex-Dividend on March 17th

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 3.22%. The ex-dividend date is Monday, March 17th.

DTE Energy has raised its dividend payment by an average of 2.3% annually over the last three years and has raised its dividend annually for the last 16 consecutive years. DTE Energy has a payout ratio of 56.4% meaning its dividend is sufficiently covered by earnings. 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 $4.36 annual dividend with an expected future payout ratio of 56.6%.

DTE Energy Price Performance

Shares of DTE Energy stock opened at $135.42 on Friday. The firm has a market cap of $28.07 billion, a P/E ratio of 20.00, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59. DTE Energy has a twelve month low of $103.06 and a twelve month high of $136.28. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71. The firm’s 50-day simple moving average is $125.78 and its 200-day simple moving average is $124.47.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. As a group, research analysts expect that DTE Energy will post 7.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other DTE Energy news, SVP Joann Chavez sold 7,062 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $132.40, for a total transaction of $935,008.80. Following the completion of the sale, the senior vice president now directly owns 14,067 shares in the company, valued at approximately $1,862,470.80. This trade represents a 33.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Matthew T. Paul sold 3,801 shares of DTE Energy stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $129.56, for a total value of $492,457.56. Following the completion of the sale, the chief operating officer now owns 6,951 shares of the company’s stock, valued at approximately $900,571.56. The trade was a 35.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,877 shares of company stock valued at $1,559,205 in the last ninety days. 0.28% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on DTE shares. Scotiabank increased their target price on shares of DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a report on Thursday, December 12th. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Morgan Stanley lowered their price target on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Guggenheim raised shares of DTE Energy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, Barclays lowered shares of DTE Energy from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $137.00 to $135.00 in a report on Thursday, February 20th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $137.09.

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.