DTE Energy (NYSE:DTE) Releases FY24 Earnings Guidance

DTE Energy (NYSE:DTE) 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. DTE Energy also updated its FY 2024 guidance to 6.540-6.830 EPS.

DTE Energy Price Performance

DTE stock opened at $127.56 on Friday. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.69 and a quick ratio of 0.52. DTE Energy has a 1 year low of $90.14 and a 1 year high of $129.53. The firm has a 50-day moving average of $123.75 and a 200 day moving average of $115.98. The company has a market cap of $26.40 billion, a P/E ratio of 20.88, a PEG ratio of 2.32 and a beta of 0.67.

DTE Energy (NYSE:DTE) last announced its earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.22. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. The firm had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same quarter in the prior year, the company earned $0.99 EPS. On average, sell-side analysts forecast that DTE Energy will post 6.7 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on DTE. Scotiabank upped their price target on DTE Energy from $120.00 to $137.00 and gave the stock a sector outperform rating in a research note on Tuesday, August 20th. Mizuho lifted their price target on DTE Energy from $121.00 to $133.00 and gave the stock an outperform rating in a research report on Tuesday, September 10th. Bank of America increased their price objective on shares of DTE Energy from $131.00 to $136.00 and gave the company a buy rating in a research report on Thursday, August 29th. Wells Fargo & Company lifted their target price on shares of DTE Energy from $125.00 to $133.00 and gave the stock an overweight rating in a report on Friday, July 26th. Finally, StockNews.com upgraded shares of DTE Energy from a sell rating to a hold rating in a report on Sunday, August 11th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $128.67.

About DTE Energy

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.