FY2024 Earnings Forecast for DTE Energy Issued By Scotiabank

DTE Energy (NYSE:DTE) – Equities research analysts at Scotiabank lifted their FY2024 earnings per share estimates for DTE Energy in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst A. Weisel now anticipates that the utilities provider will earn $6.76 per share for the year, up from their prior forecast of $6.68. Scotiabank currently has a “Sector Outperform” rating and a $147.00 target price on the stock. The consensus estimate for DTE Energy’s current full-year earnings is $6.76 per share. Scotiabank also issued estimates for DTE Energy’s FY2026 earnings at $7.80 EPS.

Several other equities analysts also recently commented on the stock. Morgan Stanley lowered their target price on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Jefferies Financial Group initiated coverage on shares of DTE Energy in a research report on Monday, October 21st. They set a “hold” rating and a $137.00 target price on the stock. Barclays increased their target price on shares of DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $129.00 to $143.00 in a research report on Tuesday, December 3rd. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $134.31.

DTE Energy Price Performance

Shares of NYSE:DTE opened at $119.05 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 1.76. DTE Energy has a 1 year low of $102.17 and a 1 year high of $131.66. The business has a fifty day simple moving average of $121.36 and a 200 day simple moving average of $121.60. The firm has a market cap of $24.66 billion, a price-to-earnings ratio of 16.13, a P/E/G ratio of 2.23 and a beta of 0.68.

Institutional Trading of DTE Energy

Institutional investors have recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of DTE Energy by 7.0% during the 3rd quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock valued at $1,319,264,000 after acquiring an additional 662,569 shares during the period. Mizuho Securities USA LLC lifted its position in shares of DTE Energy by 44,009.5% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock valued at $903,878,000 after acquiring an additional 7,023,042 shares during the period. Ameriprise Financial Inc. lifted its position in shares of DTE Energy by 1.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,557,309 shares of the utilities provider’s stock valued at $616,938,000 after acquiring an additional 86,205 shares during the period. Janus Henderson Group PLC lifted its position in shares of DTE Energy by 2.4% during the 3rd quarter. Janus Henderson Group PLC now owns 2,720,265 shares of the utilities provider’s stock valued at $349,309,000 after acquiring an additional 64,880 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of DTE Energy by 3.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,667,111 shares of the utilities provider’s stock valued at $185,066,000 after acquiring an additional 59,811 shares during the period. 76.06% of the stock is currently owned by institutional investors.

DTE Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be paid a $1.09 dividend. The ex-dividend date of this dividend is Monday, December 16th. This is an increase from DTE Energy’s previous quarterly dividend of $1.02. This represents a $4.36 annualized dividend and a yield of 3.66%. DTE Energy’s payout ratio is 55.28%.

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.