DTE Energy (NYSE:DTE) Updates FY24 Earnings Guidance

DTE Energy (NYSE:DTE) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $6.54 to $6.83 for the period, compared to the consensus EPS estimate of $6.69.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Scotiabank lowered their price objective on DTE Energy from $129.00 to $120.00 and set a sector outperform rating on the stock in a research note on Monday. Wolfe Research lowered DTE Energy from an outperform rating to a peer perform rating in a research note on Tuesday, January 16th. BMO Capital Markets raised their price objective on DTE Energy from $111.00 to $113.00 and gave the stock a market perform rating in a research note on Wednesday, April 17th. TheStreet upgraded DTE Energy from a c+ rating to a b- rating in a research note on Friday, March 15th. Finally, JPMorgan Chase & Co. raised their price objective on DTE Energy from $118.00 to $120.00 and gave the stock a neutral rating in a research note on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, DTE Energy presently has a consensus rating of Moderate Buy and an average target price of $115.10.

DTE Energy Stock Down 1.5 %

Shares of DTE traded down $1.62 during trading hours on Friday, reaching $109.52. 1,235,918 shares of the stock traded hands, compared to its average volume of 1,196,661. The company has a current ratio of 0.60, a quick ratio of 0.42 and a debt-to-equity ratio of 1.58. The stock has a fifty day simple moving average of $109.12 and a 200 day simple moving average of $106.06. DTE Energy has a 52 week low of $90.14 and a 52 week high of $116.73. The company has a market cap of $22.66 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 2.78 and a beta of 0.64.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.67 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.04). The company 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 11.00% and a net margin of 10.96%. On average, equities analysts forecast that DTE Energy will post 6.69 EPS for the current year.

DTE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, March 18th were paid a dividend of $1.02 per share. The ex-dividend date of this dividend was Friday, March 15th. This represents a $4.08 annualized dividend and a yield of 3.73%. DTE Energy’s dividend payout ratio is currently 60.36%.

Insiders Place Their Bets

In other DTE Energy news, COO Robert A. Richard sold 4,800 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $107.25, for a total value of $514,800.00. Following the completion of the transaction, the chief operating officer now owns 26,118 shares of the company’s stock, valued at approximately $2,801,155.50. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, COO Robert A. Richard sold 4,800 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $107.25, for a total value of $514,800.00. Following the completion of the sale, the chief operating officer now directly owns 26,118 shares in the company, valued at approximately $2,801,155.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Joann Chavez sold 6,070 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $109.19, for a total transaction of $662,783.30. Following the completion of the sale, the senior vice president now owns 16,667 shares of the company’s stock, valued at $1,819,869.73. The disclosure for this sale can be found here. Insiders sold a total of 20,095 shares of company stock valued at $2,168,183 in the last quarter. Corporate insiders own 0.61% of the company’s stock.

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.