DTE Energy (NYSE:DTE) Releases Earnings Results, Beats Expectations By $0.18 EPS

DTE Energy (NYSE:DTE) released its quarterly earnings results on Tuesday. The utilities provider reported $1.32 EPS for the quarter, topping the consensus estimate of $1.14 by $0.18, Zacks reports. DTE Energy had a return on equity of 12.37% and a net margin of 7.65%.

DTE Energy Stock Down 1.7%

DTE Energy stock opened at $146.98 on Tuesday. The company’s 50-day moving average price is $147.64 and its two-hundred day moving average price is $144.49. The stock has a market cap of $30.58 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 3.26 and a beta of 0.38. DTE Energy has a 52 week low of $126.23 and a 52 week high of $155.74. The company has a current ratio of 0.95, a quick ratio of 0.69 and a debt-to-equity ratio of 2.04.

DTE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Monday, September 21st will be given a $1.165 dividend. This represents a $4.66 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Monday, September 21st. DTE Energy’s dividend payout ratio is currently 76.77%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Weiss Ratings downgraded DTE Energy from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, June 12th. Wells Fargo & Company reiterated an “overweight” rating and set a $165.00 target price on shares of DTE Energy in a research note on Monday, June 15th. Barclays decreased their price target on shares of DTE Energy from $156.00 to $154.00 and set an “equal weight” rating for the company in a research report on Monday, May 4th. Truist Financial decreased their price objective on shares of DTE Energy from $165.00 to $158.00 and set a “buy” rating for the company in a report on Monday, May 18th. Finally, Morgan Stanley restated an “overweight” rating on shares of DTE Energy in a research note on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $158.38.

Insider Buying and Selling

In other DTE Energy news, VP Lisa A. Muschong sold 1,000 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $143.72, for a total transaction of $143,720.00. Following the completion of the transaction, the vice president directly owned 6,233 shares of the company’s stock, valued at approximately $895,806.76. This trade represents a 13.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is currently owned by insiders.

Institutional Trading of DTE Energy

Several institutional investors have recently modified their holdings of DTE. Virtu Financial LLC raised its position in DTE Energy by 28.0% in the fourth quarter. Virtu Financial LLC now owns 2,479 shares of the utilities provider’s stock worth $320,000 after acquiring an additional 543 shares in the last quarter. Mcguire Capital Advisors Inc. acquired a new position in shares of DTE Energy in the 4th quarter worth approximately $36,000. Claris Financial LLC acquired a new position in shares of DTE Energy in the 4th quarter worth approximately $369,000. Invesco Ltd. raised its holdings in shares of DTE Energy by 3.1% in the 4th quarter. Invesco Ltd. now owns 2,521,165 shares of the utilities provider’s stock worth $325,180,000 after purchasing an additional 75,696 shares in the last quarter. Finally, Corient Private Wealth LLC raised its holdings in shares of DTE Energy by 2.8% in the 4th quarter. Corient Private Wealth LLC now owns 49,206 shares of the utilities provider’s stock worth $6,092,000 after purchasing an additional 1,326 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

About DTE Energy

DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company’s utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.

Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.