DTE Energy (NYSE:DTE) Updates 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 $6.71.

DTE Energy Stock Performance

DTE stock traded down $0.25 during trading on Thursday, reaching $129.74. The stock had a trading volume of 1,575,114 shares, compared to its average volume of 1,074,969. The stock’s 50 day moving average is $125.52 and its two-hundred day moving average is $117.67. The firm has a market cap of $26.85 billion, a PE ratio of 21.24, a PEG ratio of 2.29 and a beta of 0.67. DTE Energy has a 52 week low of $92.58 and a 52 week high of $131.66. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.22. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.65 billion. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. During the same quarter in the previous year, the firm posted $0.99 EPS. As a group, equities analysts anticipate that DTE Energy will post 6.7 earnings per share for the current year.

Analysts Set New Price Targets

DTE has been the subject of a number of analyst reports. LADENBURG THALM/SH SH initiated coverage on DTE Energy in a research report on Wednesday, August 14th. They issued a “buy” rating and a $131.00 price target for the company. Morgan Stanley increased their target price on shares of DTE Energy from $121.00 to $128.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Mizuho lifted their price target on shares of DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Scotiabank increased their price objective on shares of DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Finally, Jefferies Financial Group assumed coverage on shares of DTE Energy in a research note on Monday. They set a “hold” rating and a $137.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, DTE Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.54.

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.