DTE Energy Company (NYSE:DTE) Announces Quarterly Dividend of $1.25

DTE Energy Company (NYSE:DTE) declared a quarterly dividend on Thursday, November 5th. Stockholders of record on Monday, December 21st will be given a dividend of $1.2450 per share by the utilities provider on Friday, January 15th. This represents a $4.98 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Monday, December 21st. This is a 6.9% increase from DTE Energy’s previous quarterly dividend of $1.1650.

DTE Energy has a payout ratio of 60.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect DTE Energy to earn $8.32 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 56.0%.

DTE Energy Stock Performance

Shares of NYSE:DTE traded down $2.56 on Thursday, hitting $134.97. The company’s stock had a trading volume of 2,682,460 shares, compared to its average volume of 1,469,099. The company has a market capitalization of $28.09 billion, a price-to-earnings ratio of 21.36, a price-to-earnings-growth ratio of 2.75 and a beta of 0.35. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.53 and a current ratio of 0.80. DTE Energy has a 12 month low of $119.68 and a 12 month high of $155.74. The stock’s 50-day moving average is $130.23 and its two-hundred day moving average is $140.85.

DTE Energy (NYSE:DTE) last released its earnings results on Thursday, November 5th. The utilities provider reported $2.30 EPS for the quarter, beating the consensus estimate of $2.15 by $0.15. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. During the same quarter in the previous year, the business posted $2.01 EPS. On average, equities research analysts forecast that DTE Energy will post 7.70 EPS for the current year.

Insider Activity

In other news, Vice Chairman Trevor Lauer sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $135.71, for a total transaction of $678,550.00. Following the sale, the insider directly owned 73,122 shares of the company’s stock, valued at $9,923,386.62. The trade was a 6.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is owned by insiders.

Hedge Funds Weigh In On DTE Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. First Bancorp Inc ME acquired a new stake in DTE Energy during the 2nd quarter worth about $29,000. Community Bank N.A. purchased a new stake in DTE Energy during the second quarter valued at about $31,000. N.E.W. Advisory Services LLC acquired a new position in shares of DTE Energy in the second quarter worth about $35,000. Optiver Holding B.V. acquired a new position in shares of DTE Energy in the first quarter worth about $36,000. Finally, Elevation Wealth Partners LLC boosted its holdings in shares of DTE Energy by 682.4% in the third quarter. Elevation Wealth Partners LLC now owns 266 shares of the utilities provider’s stock worth $32,000 after buying an additional 232 shares during the period. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Company Profile

DTE Energy Co is a Detroit-based energy holding company that operates through regulated utility businesses and other energy-related activities. Its principal subsidiaries are DTE Electric and DTE Gas, which provide electricity and natural gas to residential, commercial and industrial customers across southeastern Michigan.

DTE Electric generates, transmits and distributes electricity, while DTE Gas transports and distributes natural gas through an extensive pipeline network. The company is also involved in renewable energy, energy services, natural gas storage and pipeline operations, and other nonutility activities designed to support the broader energy system.

DTE Energy traces its roots to the Detroit Edison Company, which was established in 1903 to serve the Detroit area.