DTE Energy Company (NYSE:DTE) declared a quarterly dividend on Friday, November 3rd, RTT News reports. Stockholders of record on Monday, December 18th will be paid a dividend of 0.8825 per share by the utilities provider on Monday, January 15th. This represents a $3.53 annualized dividend and a dividend yield of 3.18%. This is an increase from DTE Energy’s previous quarterly dividend of $0.83.

DTE Energy has raised its dividend by an average of 5.1% per year over the last three years and has raised its dividend every year for the last 5 years. DTE Energy has a payout ratio of 59.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect DTE Energy to earn $5.72 per share next year, which means the company should continue to be able to cover its $3.30 annual dividend with an expected future payout ratio of 57.7%.

Shares of DTE Energy (NYSE:DTE) traded up $0.62 during mid-day trading on Friday, hitting $110.90. 1,324,799 shares of the stock traded hands, compared to its average volume of 1,117,418. The company has a market capitalization of $19.88 billion, a price-to-earnings ratio of 21.51 and a beta of 0.23.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Wednesday, October 25th. The utilities provider reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.05). DTE Energy had a net margin of 8.01% and a return on equity of 9.56%. The firm had revenue of $3.25 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same period last year, the firm earned $1.96 EPS. DTE Energy’s quarterly revenue was up 10.8% on a year-over-year basis. equities analysts predict that DTE Energy will post 5.54 EPS for the current fiscal year.

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DTE has been the subject of several research analyst reports. BidaskClub lowered shares of DTE Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. BMO Capital Markets reissued a “hold” rating and issued a $111.00 price target on shares of DTE Energy in a report on Friday, July 28th. Zacks Investment Research lowered shares of DTE Energy from a “buy” rating to a “hold” rating in a report on Monday, July 31st. KeyCorp reissued a “buy” rating and issued a $113.00 price target on shares of DTE Energy in a report on Sunday, August 27th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $121.00 price target on shares of DTE Energy in a report on Tuesday, August 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. DTE Energy currently has an average rating of “Hold” and an average target price of $111.50.

In related news, insider Mark W. Stiers sold 3,632 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $110.03, for a total value of $399,628.96. Following the completion of the transaction, the insider now directly owns 25,257 shares of the company’s stock, valued at approximately $2,779,027.71. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

DTE Energy Company Profile

Dividend History for DTE Energy (NYSE:DTE)

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