DTE Energy (NYSE:DTE) Issues FY24 Earnings Guidance

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

DTE Energy Stock Performance

Shares of DTE opened at $110.76 on Tuesday. The company has a market cap of $22.92 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 2.04 and a beta of 0.67. The company has a current ratio of 0.75, a quick ratio of 0.54 and a debt-to-equity ratio of 1.72. The stock has a 50-day moving average price of $112.14 and a 200-day moving average price of $109.79. DTE Energy has a 12-month low of $90.14 and a 12-month high of $117.44.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Thursday, April 25th. The utilities provider reported $1.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.04). The business had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.81 billion. DTE Energy had a net margin of 10.36% and a return on equity of 11.53%. As a group, equities analysts forecast that DTE Energy will post 6.7 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 17th will be issued a dividend of $1.02 per share. The ex-dividend date is Monday, June 17th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.68%. DTE Energy’s dividend payout ratio is 66.78%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. JPMorgan Chase & Co. lifted their price target on DTE Energy from $118.00 to $120.00 and gave the stock a neutral rating in a research note on Wednesday, March 13th. BMO Capital Markets boosted their target price on DTE Energy from $111.00 to $113.00 and gave the company a market perform rating in a research note on Wednesday, April 17th. Scotiabank reduced their target price on DTE Energy from $129.00 to $120.00 and set a sector outperform rating on the stock in a research note on Monday, April 22nd. TheStreet raised DTE Energy from a c+ rating to a b- rating in a research note on Friday, March 15th. Finally, Barclays boosted their target price on DTE Energy from $115.00 to $119.00 and gave the company an overweight rating in a research note on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, DTE Energy has an average rating of Hold and a consensus price target of $115.44.

Insider Activity at DTE Energy

In related news, COO Mark W. Stiers sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $116.00, for a total transaction of $1,160,000.00. Following the completion of the sale, the chief operating officer now owns 41,921 shares in the company, valued at $4,862,836. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other DTE Energy news, COO Mark W. Stiers sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $116.00, for a total value of $1,160,000.00. Following the completion of the sale, the chief operating officer now owns 41,921 shares in the company, valued at $4,862,836. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Lisa A. Muschong sold 1,198 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $116.61, for a total value of $139,698.78. Following the completion of the sale, the vice president now owns 4,271 shares of the company’s stock, valued at approximately $498,041.31. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,698 shares of company stock worth $1,702,444. 0.28% of the stock is owned by insiders.

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.