DTE Energy (NYSE:DTE) Releases Earnings Results, Beats Expectations By $0.01 EPS

DTE Energy (NYSE:DTEGet Free Report) issued its earnings results on Thursday. The utilities provider reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.01, Briefing.com reports. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $4.97 billion. DTE Energy had a return on equity of 11.10% and a net margin of 10.96%. During the same period last year, the company posted $1.31 EPS. DTE Energy updated its FY24 guidance to $6.54-6.83 EPS.

DTE Energy Stock Up 0.2 %

Shares of DTE Energy stock opened at $104.41 on Friday. The business has a 50-day moving average of $107.91 and a 200-day moving average of $104.60. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.85 and a quick ratio of 0.57. The company has a market capitalization of $21.54 billion, a PE ratio of 15.45, a P/E/G ratio of 2.60 and a beta of 0.64. DTE Energy has a 1-year low of $90.14 and a 1-year high of $116.73.

DTE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, March 18th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, March 15th. This represents a $4.08 annualized dividend and a dividend yield of 3.91%. DTE Energy’s dividend payout ratio is presently 60.36%.

Analyst Upgrades and Downgrades

DTE has been the topic of several research reports. Mizuho cut their target price on DTE Energy from $121.00 to $106.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. Morgan Stanley cut their target price on DTE Energy from $118.00 to $111.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 25th. Wolfe Research lowered DTE Energy from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, January 16th. Guggenheim lowered DTE Energy from a “buy” rating to a “neutral” rating and set a $111.00 price objective on the stock. in a research report on Monday, January 22nd. Finally, Evercore ISI raised their price objective on DTE Energy from $108.00 to $116.00 and gave the company an “outperform” rating in a research report on Monday, December 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $83.22.

Read Our Latest Analysis on DTE

Institutional Trading of DTE Energy

Several large investors have recently modified their holdings of the business. Brinker Capital Investments LLC grew its stake in DTE Energy by 4.6% in the first quarter. Brinker Capital Investments LLC now owns 2,392 shares of the utilities provider’s stock worth $316,000 after purchasing an additional 106 shares in the last quarter. Quantinno Capital Management LP grew its stake in DTE Energy by 7.5% in the fourth quarter. Quantinno Capital Management LP now owns 1,990 shares of the utilities provider’s stock worth $234,000 after purchasing an additional 139 shares in the last quarter. CENTRAL TRUST Co grew its stake in DTE Energy by 3.5% in the third quarter. CENTRAL TRUST Co now owns 4,305 shares of the utilities provider’s stock worth $495,000 after purchasing an additional 145 shares in the last quarter. SVB Wealth LLC grew its stake in DTE Energy by 6.6% in the first quarter. SVB Wealth LLC now owns 2,525 shares of the utilities provider’s stock worth $334,000 after purchasing an additional 157 shares in the last quarter. Finally, Retirement Income Solutions Inc grew its stake in DTE Energy by 6.8% in the first quarter. Retirement Income Solutions Inc now owns 2,498 shares of the utilities provider’s stock worth $330,000 after purchasing an additional 158 shares in the last quarter. 74.72% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Company Profile

(Get Free Report)

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.3 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.

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Earnings History for DTE Energy (NYSE:DTE)

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