DTE Energy (DTE) Declares $0.95 Dividend

DTE Energy said on May 4, 2023 that its board of directors declared a regular quarterly dividend of $0.95 per share ($3.81 annualized). Previously, the company paid $0.95 per share.

Shares must be purchased before the ex-div date of June 15, 2023 to qualify for the dividend. Shareholders of record as of June 19, 2023 will receive the payment on July 15, 2023.

At the current share price of $112.68 / share, the stock's dividend yield is 3.38%.

Looking back five years and taking a sample every week, the average dividend yield has been 3.65%, the lowest has been 2.58%, and the highest has been 6.20%. The standard deviation of yields is 0.54 (n=235).

The current dividend yield is 0.50 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.66. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is -0.11%.

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What is the Fund Sentiment?

There are 1490 funds or institutions reporting positions in DTE Energy. This is an increase of 57 owner(s) or 3.98% in the last quarter. Average portfolio weight of all funds dedicated to DTE is 0.26%, a decrease of 1.74%. Total shares owned by institutions increased in the last three months by 4.72% to 185,973K shares. The put/call ratio of DTE is 6.03, indicating a bearish outlook.

Analyst Price Forecast Suggests 17.83% Upside

As of April 24, 2023, the average one-year price target for DTE Energy is 132.77. The forecasts range from a low of 121.20 to a high of $151.20. The average price target represents an increase of 17.83% from its latest reported closing price of 112.68.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for DTE Energy is 15,397MM, a decrease of 16.46%. The projected annual non-GAAP EPS is 6.33.

What are Other Shareholders Doing?

Capital Research Global Investors holds 15,926K shares representing 7.73% ownership of the company. In it's prior filing, the firm reported owning 17,465K shares, representing a decrease of 9.66%. The firm decreased its portfolio allocation in DTE by 14.30% over the last quarter.

AMECX - INCOME FUND OF AMERICA holds 6,691K shares representing 3.25% ownership of the company. In it's prior filing, the firm reported owning 7,374K shares, representing a decrease of 10.21%. The firm decreased its portfolio allocation in DTE by 10.70% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,004K shares representing 2.43% ownership of the company. In it's prior filing, the firm reported owning 5,189K shares, representing a decrease of 3.69%. The firm decreased its portfolio allocation in DTE by 9.02% over the last quarter.

VFINX - Vanguard 500 Index Fund Investor Shares holds 4,479K shares representing 2.17% ownership of the company. In it's prior filing, the firm reported owning 4,392K shares, representing an increase of 1.94%. The firm decreased its portfolio allocation in DTE by 4.02% over the last quarter.

CAIBX - CAPITAL INCOME BUILDER holds 4,165K shares representing 2.02% ownership of the company. In it's prior filing, the firm reported owning 4,849K shares, representing a decrease of 16.43%. The firm decreased its portfolio allocation in DTE by 17.42% over the last quarter.

DTE Energy Background Information
(This description is provided by the company.)

DTE Energy is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include an electric company serving 2.2 million customers in Southeast Michigan and a natural gas company serving 1.3 million customers in Michigan. The DTE portfolio includes energy businesses focused on power and industrial projects; renewable natural gas; natural gas pipelines, gathering and storage; and energy marketing and trading. As an environmental leader, DTE utility operations will reduce carbon dioxide and methane emissions by more than 80% by 2040 to produce cleaner energy while keeping it safe, reliable and affordable. DTE Electric aspires to achieve net zero carbon by 2050. DTE is committed to serving with its energy through volunteerism, education and employment initiatives, philanthropy and economic progress.

This story originally appeared on Fintel.