DTE Energy (NYSE:DTE) Issues 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 Price Performance

Shares of DTE stock traded up $0.28 during mid-day trading on Thursday, hitting $118.19. 995,163 shares of the stock traded hands, compared to its average volume of 1,098,054. DTE Energy has a twelve month low of $90.14 and a twelve month high of $120.54. The firm has a market cap of $24.46 billion, a price-to-earnings ratio of 19.34, a price-to-earnings-growth ratio of 2.11 and a beta of 0.66. The company’s 50-day simple moving average is $113.02 and its 200-day simple moving average is $110.29. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.54 and a current ratio of 0.75.

DTE Energy (NYSE:DTE) last issued its earnings results on Thursday, April 25th. The utilities provider reported $1.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.04). The company had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.81 billion. DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. As a group, equities research analysts expect that DTE Energy will post 6.69 earnings per share for the current year.

DTE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Monday, September 16th. DTE Energy’s payout ratio is 66.78%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. BMO Capital Markets lifted their target price on DTE Energy from $120.00 to $123.00 and gave the stock a market perform rating in a report on Monday, July 15th. Barclays lifted their target price on DTE Energy from $115.00 to $119.00 and gave the stock an overweight rating in a report on Tuesday, April 30th. Morgan Stanley decreased their target price on DTE Energy from $116.00 to $111.00 and set an overweight rating on the stock in a report on Monday, June 24th. KeyCorp upped their price target on DTE Energy from $117.00 to $125.00 and gave the company an overweight rating in a research report on Monday, May 20th. Finally, 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 research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $116.78.

Insider Activity at DTE Energy

In other DTE Energy 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 sale, 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 legal 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 the 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 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Mark W. Stiers sold 10,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $116.00, for a total transaction of $1,160,000.00. Following the transaction, the chief operating officer now directly owns 41,921 shares in the company, valued at $4,862,836. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,698 shares of company stock valued at $1,702,444. 0.61% of the stock is owned by corporate insiders.

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.