DTE Energy (NYSE:DTE) Plans $1.09 Quarterly Dividend

DTE Energy (NYSE:DTE - Get Free Report) declared 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 3.53%. The ex-dividend date of this dividend is Monday, March 17th.

DTE Energy has raised its dividend payment by an average of 2.3% annually over the last three years. DTE Energy has a dividend payout ratio of 56.3% indicating that 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 $4.36 annual dividend with an expected future payout ratio of 60.5%.

DTE Energy Stock Performance

Shares of NYSE:DTE traded up $0.93 on Monday, hitting $123.63. 1,095,279 shares of the company were exchanged, compared to its average volume of 1,100,080. The company's 50 day moving average price is $120.91 and its two-hundred day moving average price is $122.84. The firm has a market capitalization of $25.60 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 2.25 and a beta of 0.68. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.62 and a current ratio of 0.83. DTE Energy has a one year low of $103.06 and a one year high of $131.66.

Analyst Upgrades and Downgrades

DTE has been the subject of several recent research reports. Jefferies Financial Group started coverage on DTE Energy in a report on Monday, October 21st. They issued a "hold" rating and a $137.00 price target for the company. Morgan Stanley cut their target price on DTE Energy from $131.00 to $128.00 and set an "overweight" rating for the company in a research note on Friday, November 22nd. StockNews.com upgraded shares of DTE Energy from a "sell" rating to a "hold" rating in a research note on Friday, January 24th. KeyCorp downgraded shares of DTE Energy from an "overweight" rating to a "sector weight" rating in a report on Wednesday, December 4th. Finally, BMO Capital Markets upped their target price on shares of DTE Energy from $135.00 to $140.00 and gave the company a "market perform" rating in a research note on Friday, October 18th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.