DTE Energy (NYSE:DTE) Releases FY24 Earnings Guidance

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

DTE Energy Trading Up 1.3 %

NYSE DTE opened at $111.55 on Thursday. DTE Energy has a fifty-two week low of $90.14 and a fifty-two week high of $116.73. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.42 and a current ratio of 0.60. The stock has a 50 day simple moving average of $109.05 and a two-hundred day simple moving average of $106.02. The stock has a market cap of $23.08 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 2.74 and a beta of 0.64.

DTE Energy (NYSE:DTE) last released its quarterly earnings data on Thursday, February 8th. The utilities provider reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.01. DTE Energy had a return on equity of 11.00% and a net margin of 10.96%. The business had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $4.97 billion. During the same quarter last year, the business posted $1.31 EPS. On average, analysts forecast that DTE Energy will post 6.71 earnings per share for the current year.

DTE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, March 18th were issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 3.66%. The ex-dividend date was Friday, March 15th. DTE Energy’s dividend payout ratio (DPR) is currently 60.36%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wolfe Research cut DTE Energy from an outperform rating to a peer perform rating in a research note on Tuesday, January 16th. Scotiabank lowered their target price on DTE Energy from $129.00 to $120.00 and set a sector outperform rating for the company in a research note on Monday. JPMorgan Chase & Co. raised their target price on DTE Energy from $118.00 to $120.00 and gave the company a neutral rating in a research note on Wednesday, March 13th. Barclays raised their target price on DTE Energy from $112.00 to $115.00 and gave the company an overweight rating in a research note on Monday, April 15th. Finally, Morgan Stanley raised their target price on DTE Energy from $108.00 to $109.00 and gave the company an overweight rating in a research note on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $115.10.

Insiders Place Their Bets

In related news, COO Robert A. Richard sold 4,800 shares of DTE Energy stock in a transaction on Tuesday, February 27th. The stock was 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 owns 26,118 shares of the company’s stock, valued at $2,801,155.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Robert A. Richard sold 4,800 shares of DTE Energy stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $107.25, for a total transaction of $514,800.00. Following the transaction, the chief operating officer now directly owns 26,118 shares in the company, valued at $2,801,155.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Tracy J. Myrick sold 600 shares of DTE Energy stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $107.04, for a total value of $64,224.00. Following the transaction, the chief accounting officer now owns 3,462 shares in the company, valued at $370,572.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,095 shares of company stock valued at $2,168,183. Corporate insiders own 0.61% of the company’s stock.

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.