DTE Energy (NYSE:DTE) Updates FY24 Earnings Guidance

DTE Energy (NYSE:DTE) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $6.54-6.83 for the period, compared to the consensus earnings per share estimate of $6.71.

DTE Energy Trading Down 2.5 %

Shares of NYSE DTE traded down $3.20 during midday trading on Friday, reaching $126.57. 1,275,942 shares of the stock were exchanged, compared to its average volume of 1,075,940. The company has a market capitalization of $26.19 billion, a P/E ratio of 20.77, a P/E/G ratio of 2.29 and a beta of 0.67. DTE Energy has a 52-week low of $92.58 and a 52-week high of $131.66. 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 stock has a 50 day moving average price of $125.68 and a 200-day moving average price of $117.75.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Thursday, October 24th. The utilities provider reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.35. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. The business had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $3.17 billion. Equities research analysts expect that DTE Energy will post 6.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on DTE shares. Scotiabank raised their target price on shares of DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Bank of America lifted their price target on shares of DTE Energy from $131.00 to $136.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, August 11th. Morgan Stanley boosted their target price on shares of DTE Energy from $121.00 to $128.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Finally, KeyCorp boosted their target price on shares of DTE Energy from $136.00 to $138.00 and gave the stock an “overweight” rating in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $131.46.

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.