DTE Energy (NYSE:DTE) Releases FY 2024 Earnings Guidance

DTE Energy (NYSE:DTEGet Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 6.540-6.830 for the period, compared to the consensus EPS estimate of 6.680. The company issued revenue guidance of -. DTE Energy also updated its FY24 guidance to $6.54-6.83 EPS.

DTE Energy Stock Down 0.9 %

DTE stock traded down $0.95 during midday trading on Tuesday, hitting $109.81. The company’s stock had a trading volume of 130,104 shares, compared to its average volume of 1,108,225. 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 company has a market cap of $22.72 billion, a PE ratio of 18.13, a P/E/G ratio of 2.04 and a beta of 0.67. The firm’s 50-day moving average is $112.14 and its 200-day moving average is $109.79. DTE Energy has a 12 month low of $90.14 and a 12 month high of $117.44.

DTE Energy (NYSE:DTEGet Free Report) last released its quarterly earnings data 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 firm had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.81 billion. DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. On average, equities research analysts forecast that DTE Energy will post 6.7 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.72%. DTE Energy’s dividend payout ratio is currently 66.78%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Morgan Stanley increased their target price on DTE Energy from $108.00 to $109.00 and gave the stock an overweight rating in a research note on Thursday, March 21st. TheStreet upgraded shares of DTE Energy from a c+ rating to a b- rating in a research note on Friday, March 15th. KeyCorp increased their price objective on DTE Energy from $117.00 to $125.00 and gave the company an overweight rating in a research note on Monday, May 20th. BMO Capital Markets upped their price target on DTE Energy from $111.00 to $113.00 and gave the stock a market perform rating in a report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. boosted their price objective on DTE Energy from $118.00 to $120.00 and gave the stock a neutral rating in a research report on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $115.44.

Check Out Our Latest Stock Analysis on DTE

Insider Activity

In other news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $115.07, for a total value of $402,745.00. Following the completion of the sale, the insider now owns 59,475 shares of the company’s stock, valued at $6,843,788.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $115.07, for a total value of $402,745.00. Following the transaction, the insider now owns 59,475 shares in the company, valued at $6,843,788.25. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Lisa A. Muschong sold 1,198 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $116.61, for a total value of $139,698.78. Following 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. In the last 90 days, insiders have sold 14,698 shares of company stock valued at $1,702,444. Company insiders own 0.28% of the company’s stock.

About DTE Energy

(Get Free Report)

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.

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Earnings History and Estimates for DTE Energy (NYSE:DTE)

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