DTE Energy (NYSE:DTE) Releases FY24 Earnings Guidance

DTE Energy (NYSE:DTE) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $6.54-6.83 for the period, compared to the consensus EPS estimate of $6.69. DTE Energy also updated its FY 2024 guidance to 6.540-6.830 EPS.

Wall Street Analyst Weigh In

Several research firms have recently commented on DTE. LADENBURG THALM/SH SH initiated coverage on shares of DTE Energy in a research report on Wednesday, August 14th. They set a buy rating and a $131.00 price target for the company. Morgan Stanley raised their price target on shares of DTE Energy from $121.00 to $128.00 and gave the company an overweight rating in a research note on Wednesday, September 25th. Wells Fargo & Company lifted their price target on DTE Energy from $125.00 to $133.00 and gave the company an overweight rating in a report on Friday, July 26th. Mizuho increased their price objective on DTE Energy from $121.00 to $133.00 and gave the stock an outperform rating in a report on Tuesday, September 10th. Finally, BMO Capital Markets lifted their target price on DTE Energy from $126.00 to $135.00 and gave the company a market perform rating in a research note on Friday, September 6th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $128.67.

DTE Energy Price Performance

Shares of DTE Energy stock opened at $128.70 on Wednesday. DTE Energy has a 52 week low of $90.14 and a 52 week high of $129.53. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. The company’s 50-day moving average price is $123.34 and its two-hundred day moving average price is $115.80. The stock has a market cap of $26.63 billion, a PE ratio of 21.06, a price-to-earnings-growth ratio of 2.32 and a beta of 0.67.

DTE Energy (NYSE:DTE) last released its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.22. The business had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.65 billion. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. During the same quarter last year, the company posted $0.99 EPS. As a group, sell-side analysts anticipate that DTE Energy will post 6.7 EPS for the current fiscal year.

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.