DTE Energy (NYSE:DTE) Issues FY24 Earnings Guidance

DTE Energy (NYSE:DTEGet Free Report) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $6.54-6.83 for the period, compared to the consensus EPS estimate of $6.69.

Analysts Set New Price Targets

A number of brokerages recently commented on DTE. Guggenheim downgraded shares of 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. Morgan Stanley boosted their target price on shares of DTE Energy from $108.00 to $109.00 and gave the stock an overweight rating in a research report on Thursday, March 21st. JPMorgan Chase & Co. boosted their target price on shares of DTE Energy from $118.00 to $120.00 and gave the stock a neutral rating in a research report on Wednesday, March 13th. BMO Capital Markets decreased their target price on shares of DTE Energy from $113.00 to $111.00 and set a market perform rating for the company in a research report on Monday, February 12th. Finally, KeyCorp boosted their target price on shares of DTE Energy from $106.00 to $117.00 and gave the stock an overweight rating in a research report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $114.00.

Check Out Our Latest Stock Report on DTE

DTE Energy Trading Down 0.8 %

DTE Energy stock opened at $110.25 on Thursday. DTE Energy has a 52 week low of $90.14 and a 52 week high of $116.73. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.42 and a current ratio of 0.60. The firm has a market capitalization of $22.81 billion, a PE ratio of 16.31, a PEG ratio of 2.76 and a beta of 0.64. The business’s 50-day simple moving average is $108.13 and its 200-day simple moving average is $105.32.

DTE Energy (NYSE:DTEGet Free Report) last issued its quarterly earnings results on Thursday, February 8th. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.01. DTE Energy had a return on equity of 11.00% and a net margin of 10.96%. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $4.97 billion. During the same period in the previous year, the company posted $1.31 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 firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, March 18th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 3.70%. The ex-dividend date is Friday, March 15th. DTE Energy’s payout ratio is currently 60.36%.

Insider Transactions at DTE Energy

In other news, COO Matthew T. Paul sold 5,850 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $106.92, for a total value of $625,482.00. Following the transaction, the chief operating officer now directly owns 6,951 shares of the company’s stock, valued at approximately $743,200.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Matthew T. Paul sold 5,850 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $106.92, for a total value of $625,482.00. Following the completion of the transaction, the chief operating officer now owns 6,951 shares in the company, valued at approximately $743,200.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Lisa A. Muschong sold 2,775 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $108.43, for a total transaction of $300,893.25. Following the completion of the transaction, the vice president now owns 5,469 shares of the company’s stock, valued at approximately $593,003.67. The disclosure for this sale can be found here. Insiders have sold 20,095 shares of company stock valued at $2,168,183 in the last three months. 0.61% of the stock is owned by corporate insiders.

Institutional Trading of DTE Energy

Several institutional investors and hedge funds have recently made changes to their positions in DTE. Millennium Management LLC raised its position in shares of DTE Energy by 224.8% during the 4th quarter. Millennium Management LLC now owns 2,379,882 shares of the utilities provider’s stock valued at $279,708,000 after acquiring an additional 1,647,053 shares during the last quarter. Vanguard Group Inc. increased its position in shares of DTE Energy by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 23,028,699 shares of the utilities provider’s stock valued at $3,044,624,000 after buying an additional 1,420,586 shares in the last quarter. Royal Bank of Canada increased its position in shares of DTE Energy by 145.4% in the 4th quarter. Royal Bank of Canada now owns 1,153,230 shares of the utilities provider’s stock valued at $127,155,000 after buying an additional 683,250 shares in the last quarter. Morgan Stanley increased its position in shares of DTE Energy by 34.8% in the 4th quarter. Morgan Stanley now owns 2,045,650 shares of the utilities provider’s stock valued at $240,425,000 after buying an additional 527,592 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its position in shares of DTE Energy by 5,116.7% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 401,688 shares of the utilities provider’s stock valued at $47,210,000 after buying an additional 393,988 shares in the last quarter. Institutional investors own 76.06% of the company’s stock.

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 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.

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Earnings History and Estimates for DTE Energy (NYSE:DTE)

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