DTE Energy (NYSE:DTE) Releases FY24 Earnings Guidance

DTE Energy (NYSE:DTE) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $6.54-6.83 for the period, compared to the consensus EPS estimate of $6.69.

DTE Energy Stock Down 0.1 %

DTE opened at $121.89 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 1.73. The firm has a 50 day moving average price of $115.04 and a 200-day moving average price of $111.86. DTE Energy has a twelve month low of $90.14 and a twelve month high of $126.76. The stock has a market capitalization of $25.22 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 2.27 and a beta of 0.66.

DTE Energy (NYSE:DTE) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.22. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. The firm had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the previous year, the company earned $0.99 earnings per share. Equities research analysts forecast that DTE Energy will post 6.7 earnings per share for the current year.

DTE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be issued a dividend of $1.02 per share. The ex-dividend date is Monday, September 16th. This represents a $4.08 annualized dividend and a dividend yield of 3.35%. DTE Energy’s payout ratio is 66.78%.

Analyst Ratings Changes

DTE has been the subject of several research reports. Wells Fargo & Company boosted their price objective on shares of DTE Energy from $125.00 to $133.00 and gave the company an overweight rating in a report on Friday, July 26th. Scotiabank reduced their price objective on shares of DTE Energy from $129.00 to $120.00 and set a sector outperform rating for the company in a research note on Monday, April 22nd. Morgan Stanley reduced their price objective on shares of DTE Energy from $116.00 to $111.00 and set an overweight rating for the company in a research note on Monday, June 24th. StockNews.com raised shares of DTE Energy from a sell rating to a hold rating in a research note on Sunday, August 11th. Finally, BMO Capital Markets increased their price objective on shares of DTE Energy from $120.00 to $123.00 and gave the stock a market perform rating in a research note on Monday, July 15th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $120.36.

Insider Activity at DTE Energy

In related news, VP Lisa A. Muschong sold 1,198 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $116.61, for a total transaction of $139,698.78. Following the completion of the transaction, the vice president now directly owns 4,271 shares of the company’s stock, valued at $498,041.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other DTE Energy news, 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 directly owns 4,271 shares of the company’s stock, valued at approximately $498,041.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Trevor F. Lauer sold 3,500 shares of DTE Energy stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $115.07, for a total transaction of $402,745.00. Following the completion of the transaction, the insider now directly owns 59,475 shares of the company’s stock, valued at $6,843,788.25. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by corporate insiders.

About DTE Energy

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.