DTE Energy (DTE) to Release Quarterly Earnings on Thursday

DTE Energy (NYSE:DTE) is scheduled to announce its earnings results before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of $1.83 per share for the quarter. DTE Energy has set its FY24 guidance at $6.54-6.83 EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

DTE Energy (NYSE:DTE) last released its quarterly earnings results on Thursday, February 8th. The utilities provider reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.01. The business had revenue of $3.39 billion during the quarter, compared to analyst estimates of $4.97 billion. DTE Energy had a return on equity of 11.00% and a net margin of 10.96%. During the same quarter in the prior year, the company posted $1.31 EPS. On average, analysts expect DTE Energy to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.

DTE Energy Trading Up 2.0 %

DTE opened at $105.27 on Thursday. DTE Energy has a one year low of $90.14 and a one year high of $116.73. The business has a 50 day simple moving average of $108.61 and a two-hundred day simple moving average of $105.55. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.60 and a quick ratio of 0.42. The firm has a market capitalization of $21.78 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 2.62 and a beta of 0.64.

DTE Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, March 18th were paid a $1.02 dividend. The ex-dividend date of this dividend was Friday, March 15th. This represents a $4.08 annualized dividend and a dividend yield of 3.88%. DTE Energy’s payout ratio is currently 60.36%.

Analysts Set New Price Targets

Several analysts have commented on the company. Guggenheim downgraded DTE Energy from a “buy” rating to a “neutral” rating and set a $111.00 target price on the stock. in a research note on Monday, January 22nd. BMO Capital Markets raised their price objective on DTE Energy from $111.00 to $113.00 and gave the company a “market perform” rating in a research report on Wednesday. Barclays raised their price objective on DTE Energy from $112.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday. Morgan Stanley lifted their price target on DTE Energy from $108.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Finally, KeyCorp raised their price objective on shares of DTE Energy from $106.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, January 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $114.56.

Insider Activity

In other DTE Energy news, CAO Tracy J. Myrick sold 600 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $107.04, for a total transaction of $64,224.00. Following the transaction, the chief accounting officer now directly owns 3,462 shares of the company’s stock, valued at approximately $370,572.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Joann Chavez sold 6,070 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $109.19, for a total transaction of $662,783.30. Following the sale, the senior vice president now owns 16,667 shares of the company’s stock, valued at $1,819,869.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Tracy J. Myrick sold 600 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $107.04, for a total transaction of $64,224.00. Following the completion of the sale, the chief accounting officer now directly owns 3,462 shares in the company, valued at approximately $370,572.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,095 shares of company stock worth $2,168,183. 0.28% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DTE Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Brinker Capital Investments LLC increased its position in shares of DTE Energy by 4.6% in the first quarter. Brinker Capital Investments LLC now owns 2,392 shares of the utilities provider’s stock worth $316,000 after acquiring an additional 106 shares in the last quarter. Quantinno Capital Management LP increased its position in shares of DTE Energy by 7.5% in the fourth quarter. Quantinno Capital Management LP now owns 1,990 shares of the utilities provider’s stock worth $234,000 after acquiring an additional 139 shares in the last quarter. CENTRAL TRUST Co increased its position in shares of DTE Energy by 3.5% in the third quarter. CENTRAL TRUST Co now owns 4,305 shares of the utilities provider’s stock worth $495,000 after acquiring an additional 145 shares in the last quarter. SVB Wealth LLC increased its position in shares of DTE Energy by 6.6% in the first quarter. SVB Wealth LLC now owns 2,525 shares of the utilities provider’s stock worth $334,000 after acquiring an additional 157 shares in the last quarter. Finally, Retirement Income Solutions Inc grew its holdings in DTE Energy by 6.8% during the 1st quarter. Retirement Income Solutions Inc now owns 2,498 shares of the utilities provider’s stock valued at $330,000 after purchasing an additional 158 shares in the last quarter. Institutional investors and hedge funds own 76.06% 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.