DTE Energy Company (DTE) To Go Ex-Dividend on September 21st

DTE Energy Company (NYSE:DTE) declared a quarterly dividend on Thursday, June 18th. Stockholders of record on Monday, September 21st will be paid a dividend of 1.165 per share by the utilities provider on Thursday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Monday, September 21st.

DTE Energy has increased its dividend by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 16 consecutive years. DTE Energy has a dividend payout ratio of 60.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect DTE Energy to earn $8.33 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 55.9%.

DTE Energy Stock Down 1.6%

Shares of NYSE DTE opened at $128.42 on Friday. DTE Energy has a 52-week low of $126.23 and a 52-week high of $155.74. The firm has a market capitalization of $26.72 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 2.84 and a beta of 0.37. The stock has a 50 day moving average price of $139.60 and a 200 day moving average price of $144.28. 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 (NYSE:DTE) last released its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, topping the consensus estimate of $1.14 by $0.18. The company had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $3.36 billion. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.During the same period last year, the business posted $1.36 EPS. Sell-side analysts expect that DTE Energy will post 7.71 earnings per share for the current year.

Insider Buying and Selling

In other news, Vice Chairman Trevor Lauer sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $135.71, for a total value of $678,550.00. Following the sale, the insider directly owned 73,122 shares in the company, valued at approximately $9,923,386.62. This trade represents a 6.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On DTE Energy

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of DTE Energy during the 2nd quarter valued at $3,915,284,000. Capital Research Global Investors grew its stake in DTE Energy by 3.1% during the 4th quarter. Capital Research Global Investors now owns 12,447,948 shares of the utilities provider’s stock worth $1,605,539,000 after buying an additional 379,443 shares during the last quarter. Geode Capital Management LLC increased its position in DTE Energy by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 5,592,670 shares of the utilities provider’s stock valued at $718,668,000 after buying an additional 117,322 shares in the last quarter. Jupiter Topco LLC purchased a new stake in DTE Energy in the second quarter valued at about $477,264,000. Finally, Janus Henderson Group PLC raised its stake in DTE Energy by 1.3% in the first quarter. Janus Henderson Group PLC now owns 3,084,544 shares of the utilities provider’s stock valued at $451,022,000 after buying an additional 40,346 shares during the last quarter. 76.06% of the stock is currently owned by institutional investors and hedge funds.

About DTE Energy

DTE Energy Company is a diversified energy holding company headquartered in Detroit, Michigan. Its principal businesses are DTE Electric, which generates, transmits and distributes electricity, and DTE Gas, which stores, transports and distributes natural gas. Through these utilities, the company serves residential, commercial and industrial customers primarily throughout southeastern Michigan.

DTE Energy also operates businesses involved in energy marketing and trading, renewable and conventional power generation, and other energy-related services.