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

DTE Energy Company (NYSE:DTE) declared a quarterly dividend on Thursday, February 5th. Investors 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 payment by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 16 years. DTE Energy has a dividend payout ratio of 60.2% meaning its dividend is sufficiently covered by earnings. 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 Stock Down 0.8%

DTE stock traded down $1.06 during trading hours on Friday, reaching $135.09. 134,951 shares of the stock were exchanged, compared to its average volume of 1,612,342. The company has a market cap of $28.05 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 2.49 and a beta of 0.49. The firm’s 50-day moving average is $131.87 and its 200-day moving average is $136.12. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.15 and a quick ratio of 0.68. DTE Energy has a 12 month low of $121.44 and a 12 month high of $143.79.

Wall Street Analysts Forecast Growth

DTE has been the topic of a number of research analyst reports. Wall Street Zen upgraded DTE Energy from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Mizuho increased their price target on shares of DTE Energy from $140.00 to $144.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Barclays reduced their price target on DTE Energy from $148.00 to $141.00 and set an “equal weight” rating for the company in a research note on Thursday, January 15th. Jefferies Financial Group increased their price objective on DTE Energy from $150.00 to $153.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Finally, Bank of America boosted their target price on shares of DTE Energy from $153.00 to $154.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus 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.