DTE Energy Co. to Issue Quarterly Dividend of $0.77 (DTE)
DTE Energy Co. (NYSE:DTE) announced a quarterly dividend on Tuesday, October 18th. Shareholders of record on Thursday, December 15th will be paid a dividend of 0.77 per share on Sunday, January 1st. This represents a $3.08 annualized dividend and a yield of 3.32%. The ex-dividend date is Tuesday, December 13th.
Shares of DTE Energy (NYSE:DTE) traded up 0.49% during mid-day trading on Tuesday, reaching $92.84. 1,239,579 shares of the company’s stock traded hands. DTE Energy has a 12-month low of $77.35 and a 12-month high of $100.45. The stock has a market cap of $16.66 billion, a price-to-earnings ratio of 22.42 and a beta of 0.25. The firm’s 50 day moving average price is $93.25 and its 200-day moving average price is $93.21.
DTE Energy (NYSE:DTE) last released its earnings results on Tuesday, July 26th. The company reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.09. The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.36 billion. DTE Energy had a net margin of 7.51% and a return on equity of 10.00%. The company’s revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.76 EPS. Equities research analysts forecast that DTE Energy will post $5.15 earnings per share for the current year.
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A number of research firms have recently weighed in on DTE. BMO Capital Markets reaffirmed a “hold” rating on shares of DTE Energy in a research report on Wednesday, June 22nd. KeyCorp reaffirmed an “outperform” rating and issued a $102.50 target price (up from $97.00) on shares of DTE Energy in a research report on Saturday, July 2nd. Zacks Investment Research raised shares of DTE Energy from a “hold” rating to a “buy” rating and set a $106.00 target price on the stock in a research report on Wednesday, September 28th. Barclays PLC reaffirmed a “buy” rating and issued a $108.00 target price on shares of DTE Energy in a research report on Thursday, July 28th. Finally, Macquarie upped their target price on shares of DTE Energy from $105.00 to $107.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 27th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $103.20.
In other DTE Energy news, Chairman Gerard M. Anderson sold 17,500 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $97.96, for a total transaction of $1,714,300.00. Following the transaction, the chairman now owns 77,500 shares in the company, valued at approximately $7,591,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.93% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Janus Capital Management LLC boosted its position in DTE Energy by 41.0% in the second quarter. Janus Capital Management LLC now owns 844,647 shares of the company’s stock valued at $83,721,000 after buying an additional 245,737 shares in the last quarter. FIL Ltd bought a new position in DTE Energy during the second quarter valued at about $16,317,000. Massachusetts Financial Services Co. MA boosted its position in DTE Energy by 8.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,624,996 shares of the company’s stock valued at $161,070,000 after buying an additional 123,846 shares in the last quarter. AQR Capital Management LLC boosted its position in DTE Energy by 8.8% in the second quarter. AQR Capital Management LLC now owns 1,326,323 shares of the company’s stock valued at $131,465,000 after buying an additional 107,055 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in DTE Energy by 58.8% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 221,449 shares of the company’s stock valued at $21,950,000 after buying an additional 82,032 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.
About DTE Energy
DTE Energy Company (DTE Energy) is a diversified energy company. DTE Energy’s utility operations consist primarily of DTE Electric Company (DTE Electric) and DTE Gas Company (DTE Gas). The Company’s segments include Electric, Gas, Gas Storage and Pipelines, Power and Industrial Projects, Energy Trading, and Corporate and Other.
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