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 to $6.83 for the period, compared to the consensus EPS estimate of $6.69.

DTE Energy Trading Down 1.5 %

DTE stock traded down $1.62 during mid-day trading on Friday, reaching $109.52. The company’s stock had a trading volume of 1,247,739 shares, compared to its average volume of 1,158,886. The company has a market cap of $22.66 billion, a price-to-earnings ratio of 17.92, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64. The business’s 50 day moving average price is $109.15 and its 200 day moving average price is $106.15. The company has a current ratio of 0.60, a quick ratio of 0.42 and a debt-to-equity ratio of 1.58. DTE Energy has a 12 month low of $90.14 and a 12 month high of $116.73.

DTE Energy (NYSE:DTE) last issued its earnings results on Thursday, April 25th. The utilities provider reported $1.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.04). The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.81 billion. DTE Energy had a return on equity of 11.63% and a net margin of 10.36%. On average, equities research analysts predict that DTE Energy will post 6.69 EPS for the current year.

DTE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, March 18th were issued a dividend of $1.02 per share. The ex-dividend date was Friday, March 15th. This represents a $4.08 annualized dividend and a dividend yield of 3.73%. DTE Energy’s dividend payout ratio is 66.78%.

Analyst Ratings Changes

DTE has been the subject of several recent research reports. Wolfe Research downgraded DTE Energy from an outperform rating to a peer perform rating in a report on Tuesday, January 16th. Scotiabank decreased their price objective on DTE Energy from $129.00 to $120.00 and set a sector outperform rating for the company in a report on Monday, April 22nd. TheStreet upgraded DTE Energy from a c+ rating to a b- rating in a report on Friday, March 15th. KeyCorp boosted their price objective on DTE Energy from $106.00 to $117.00 and gave the company an overweight rating in a report on Thursday, January 4th. Finally, Guggenheim cut DTE Energy from a buy rating to a neutral rating and set a $111.00 target price on the stock. in a research report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $115.10.

Insiders Place Their Bets

In other news, VP Lisa A. Muschong sold 2,775 shares of the company’s stock in a transaction 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 transaction, the vice president now owns 5,469 shares of the company’s stock, valued at approximately $593,003.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Lisa A. Muschong sold 2,775 shares of the business’s stock in a transaction 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 sale, the vice president now directly owns 5,469 shares in the company, valued at approximately $593,003.67. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Tracy J. Myrick sold 600 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $107.04, for a total value of $64,224.00. Following the sale, the chief accounting officer now owns 3,462 shares in the company, valued at $370,572.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,095 shares of company stock valued at $2,168,183. 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.