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.

DTE Energy Stock Up 0.4 %

DTE stock opened at $121.28 on Monday. DTE Energy has a twelve month low of $102.17 and a twelve month high of $131.66. The company has a market cap of $25.12 billion, a price-to-earnings ratio of 16.43, a P/E/G ratio of 2.23 and a beta of 0.68. 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 business has a 50 day moving average price of $123.71 and a two-hundred day moving average price of $120.59.

DTE Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 3.59%. This is an increase from DTE Energy’s previous quarterly dividend of $1.02. The ex-dividend date is Monday, December 16th. DTE Energy’s payout ratio is presently 59.08%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $129.00 to $143.00 in a research report on Tuesday, December 3rd. BMO Capital Markets upped their price objective on DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Scotiabank lifted their target price on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research note on Thursday. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, Mizuho lifted their price objective on shares of DTE Energy from $121.00 to $133.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, DTE Energy has an average rating of “Moderate Buy” and an average price target of $134.31.

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.