DTE Energy (NYSE:DTE) Updates FY 2024 Earnings Guidance

DTE Energy (NYSE:DTE) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 6.540-6.830 for the period, compared to the consensus EPS estimate of 6.690. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. BMO Capital Markets raised their price objective on DTE Energy from $120.00 to $123.00 and gave the company a market perform rating in a research report on Monday, July 15th. Wells Fargo & Company lifted their price objective on shares of DTE Energy from $125.00 to $133.00 and gave the stock an overweight rating in a research report on Friday, July 26th. StockNews.com downgraded shares of DTE Energy from a hold rating to a sell rating in a report on Saturday, August 3rd. Barclays raised their target price on shares of DTE Energy from $123.00 to $128.00 and gave the stock an overweight rating in a research note on Tuesday, July 30th. Finally, Scotiabank decreased their price target on shares of DTE Energy from $129.00 to $120.00 and set a sector outperform rating on the stock in a research note on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, DTE Energy has a consensus rating of Moderate Buy and an average price target of $119.30.

DTE Energy Stock Performance

Shares of DTE traded up $0.02 during mid-day trading on Friday, hitting $119.91. 634,234 shares of the company’s stock were exchanged, compared to its average volume of 1,096,413. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 1.73. DTE Energy has a 52 week low of $90.14 and a 52 week high of $126.76. The stock’s 50-day simple moving average is $114.35 and its 200-day simple moving average is $111.29. The firm has a market cap of $24.81 billion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 2.27 and a beta of 0.66.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.22. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.65 billion. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. During the same quarter last year, the company earned $0.99 EPS. On average, equities research analysts expect that DTE Energy will post 6.7 EPS for the current year.

DTE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Monday, September 16th. DTE Energy’s dividend payout ratio (DPR) is presently 66.78%.

Insiders Place Their Bets

In other news, VP Lisa A. Muschong sold 1,198 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $116.61, for a total value of $139,698.78. Following the completion of the transaction, the vice president now directly owns 4,271 shares in the company, valued at approximately $498,041.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other DTE Energy news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $115.07, for a total value of $402,745.00. Following the sale, the insider now owns 59,475 shares of the company’s stock, valued at approximately $6,843,788.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Lisa A. Muschong sold 1,198 shares of DTE Energy stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $116.61, for a total value of $139,698.78. Following the completion of the transaction, the vice president now owns 4,271 shares in the company, valued at approximately $498,041.31. The disclosure for this sale can be found here. Insiders have sold 14,698 shares of company stock worth $1,702,444 over the last ninety days. Corporate insiders own 0.61% of the company’s stock.

DTE Energy Company Profile

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.