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 (EPS) guidance of 6.540-6.830 for the period, compared to the consensus estimate of 6.740. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

DTE has been the subject of several recent analyst reports. Barclays increased their price objective on DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Morgan Stanley dropped their price objective on DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. BMO Capital Markets increased their price objective on DTE Energy from $135.00 to $140.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. KeyCorp lowered DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Finally, StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $134.31.

DTE Energy Trading Down 1.6 %

DTE opened at $119.05 on Friday. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62. DTE Energy has a fifty-two week low of $102.17 and a fifty-two week high of $131.66. 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 company’s 50-day moving average is $121.36 and its 200 day moving average is $121.52.

DTE Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be given a dividend of $1.09 per share. This is an increase from DTE Energy’s previous quarterly dividend of $1.02. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date is Monday, December 16th. DTE Energy’s dividend payout ratio is currently 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.