Seaport Global Securities Weighs in on DTE Energy Co’s FY2022 Earnings (NYSE:DTE)

DTE Energy Co (NYSE:DTE) – Equities research analysts at Seaport Global Securities raised their FY2022 earnings estimates for shares of DTE Energy in a report issued on Tuesday, July 28th. Seaport Global Securities analyst A. Storozynski now expects that the utilities provider will post earnings per share of $7.50 for the year, up from their prior estimate of $7.40. Seaport Global Securities currently has a “Buy” rating and a $121.00 target price on the stock.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.22. DTE Energy had a return on equity of 10.50% and a net margin of 10.13%. The business had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the previous year, the business posted $0.99 EPS.

Other equities research analysts have also recently issued reports about the company. TheStreet upgraded DTE Energy from a “c+” rating to a “b-” rating in a research note on Tuesday, June 9th. KeyCorp cut DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, July 21st. Morgan Stanley upped their price target on DTE Energy from $122.00 to $126.00 and gave the company an “equal weight” rating in a research report on Friday, July 17th. Credit Suisse Group decreased their price target on DTE Energy from $140.00 to $120.00 and set a “neutral” rating on the stock in a research report on Thursday, April 23rd. Finally, Bank of America decreased their price target on DTE Energy from $119.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, July 13th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $125.54.

Shares of DTE Energy stock opened at $115.63 on Friday. DTE Energy has a 52-week low of $71.21 and a 52-week high of $135.67. The stock’s 50-day simple moving average is $108.59 and its 200 day simple moving average is $111.00. The stock has a market capitalization of $22.27 billion, a P/E ratio of 18.27, a P/E/G ratio of 3.04 and a beta of 0.59. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.71 and a current ratio of 0.83.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cadence Bank NA boosted its stake in DTE Energy by 10.1% in the second quarter. Cadence Bank NA now owns 11,134 shares of the utilities provider’s stock worth $1,197,000 after buying an additional 1,024 shares in the last quarter. Sigma Planning Corp boosted its stake in DTE Energy by 13.5% in the second quarter. Sigma Planning Corp now owns 54,181 shares of the utilities provider’s stock worth $5,825,000 after buying an additional 6,457 shares in the last quarter. Barber Financial Group Inc. boosted its stake in DTE Energy by 3.2% in the second quarter. Barber Financial Group Inc. now owns 5,908 shares of the utilities provider’s stock worth $635,000 after buying an additional 185 shares in the last quarter. UBS Group AG boosted its stake in DTE Energy by 8.8% in the second quarter. UBS Group AG now owns 215,218 shares of the utilities provider’s stock worth $23,137,000 after buying an additional 17,402 shares in the last quarter. Finally, Blue Chip Partners Inc. boosted its stake in DTE Energy by 2.7% in the second quarter. Blue Chip Partners Inc. now owns 119,333 shares of the utilities provider’s stock worth $12,828,000 after buying an additional 3,083 shares in the last quarter. 72.69% of the stock is owned by institutional investors and hedge funds.

In other news, SVP Joann Chavez sold 400 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $101.93, for a total transaction of $40,772.00. Following the completion of the transaction, the senior vice president now owns 5,300 shares of the company’s stock, valued at $540,229. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is currently owned by insiders.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Monday, September 21st will be issued a dividend of $1.013 per share. This represents a $4.05 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Friday, September 18th. DTE Energy’s payout ratio is 64.29%.

About DTE Energy

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.2 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.

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Earnings History and Estimates for DTE Energy (NYSE:DTE)

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