DTE Energy (NYSE:DTE) Releases FY24 Earnings Guidance

DTE Energy (NYSE:DTE) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $6.54-6.83 for the period, compared to the consensus estimate of $6.74.

Analyst Upgrades and Downgrades

DTE has been the subject of several analyst reports. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th. Wells Fargo & Company boosted their price target on shares of DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. UBS Group raised DTE Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $129.00 to $143.00 in a research report on Tuesday, December 3rd. Barclays boosted their price target on DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, Scotiabank increased their price objective on shares of DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research report on Thursday, December 12th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $134.31.

DTE Energy Price Performance

Shares of NYSE:DTE opened at $120.71 on Wednesday. The firm’s 50 day moving average price is $123.54 and its 200-day moving average price is $120.68. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.76. The stock has a market capitalization of $25.00 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 2.23 and a beta of 0.68. DTE Energy has a twelve month low of $102.17 and a twelve month high of $131.66.

DTE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be paid a $1.09 dividend. This represents a $4.36 annualized dividend and a dividend yield of 3.61%. This is a positive change from DTE Energy’s previous quarterly dividend of $1.02. The ex-dividend date is Monday, December 16th. DTE Energy’s dividend payout ratio is 59.08%.

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.