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

DTE Energy (NYSE:DTE) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 6.540-6.830 for the period, compared to the consensus earnings per share estimate of 6.740. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on DTE shares. BMO Capital Markets lifted their target price on shares of DTE Energy from $135.00 to $140.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Jefferies Financial Group initiated coverage on DTE Energy in a research note on Monday, October 21st. They issued a “hold” rating and a $137.00 price target on the stock. Wells Fargo & Company increased their price objective on DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Barclays upped their price target on shares of DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $129.00 to $143.00 in a report on Tuesday, December 3rd. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, DTE Energy currently has an average rating of “Moderate Buy” and a consensus price target of $134.31.

DTE Energy Trading Down 1.6 %

NYSE DTE opened at $119.05 on Friday. 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 firm has a market capitalization of $24.66 billion, a PE ratio of 16.13, a P/E/G ratio of 2.23 and a beta of 0.68. The stock’s 50 day moving average is $121.36 and its 200 day moving average is $121.60. DTE Energy has a twelve month low of $102.17 and a twelve month high of $131.66.

DTE Energy Increases Dividend

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

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.