DTE Energy (NYSE:DTE – Get Free Report) posted its earnings results on Thursday. The utilities provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.22, Briefing.com reports. The company had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.65 billion. DTE Energy had a net margin of 10.36% and a return on equity of 11.53%. During the same period in the prior year, the business posted $0.99 earnings per share. DTE Energy updated its FY24 guidance to $6.54-6.83 EPS.
DTE Energy Stock Performance
DTE Energy stock remained flat at $118.19 during mid-day trading on Friday. 1,667,423 shares of the company traded hands, compared to its average volume of 1,102,629. The company has a 50 day moving average of $113.02 and a 200 day moving average of $110.29. DTE Energy has a one year low of $90.14 and a one year high of $120.54. The stock has a market cap of $24.46 billion, a price-to-earnings ratio of 19.24, a P/E/G ratio of 2.15 and a beta of 0.66. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.75 and a quick ratio of 0.54.
DTE Energy Announces Dividend
The company 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 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend is Monday, September 16th. DTE Energy’s dividend payout ratio is currently 66.78%.
Insider Buying and Selling at DTE Energy
Analysts Set New Price Targets
Several brokerages have commented on DTE. Scotiabank lowered 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 report on Monday, April 22nd. BMO Capital Markets raised their price objective on shares of DTE Energy from $120.00 to $123.00 and gave the stock a “market perform” rating in a report on Monday, July 15th. Barclays raised their price objective on shares of DTE Energy from $115.00 to $119.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. KeyCorp raised their price objective on shares of DTE Energy from $117.00 to $125.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Finally, Wells Fargo & Company raised their target price on shares of DTE Energy from $125.00 to $133.00 and gave the company an “overweight” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $118.40.
Get Our Latest Stock Analysis on DTE Energy
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.
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