DTE Energy (DTE) Scheduled to Post Quarterly Earnings on Thursday

DTE Energy (NYSE:DTE) is set to issue its quarterly earnings data before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of $1.83 per share for the quarter. DTE Energy has set its FY24 guidance at $6.54-6.83 EPS.Parties that wish to listen to the company’s conference call can do so using this link.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Thursday, February 8th. The utilities provider reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.01. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $4.97 billion. DTE Energy had a return on equity of 11.00% and a net margin of 10.96%. During the same quarter in the previous year, the firm earned $1.31 EPS. On average, analysts expect DTE Energy to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.

DTE Energy Stock Up 1.4 %

NYSE:DTE opened at $110.12 on Tuesday. The firm has a market capitalization of $22.79 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 2.70 and a beta of 0.64. DTE Energy has a twelve month low of $90.14 and a twelve month high of $116.73. The stock’s 50 day moving average price is $108.81 and its two-hundred day moving average price is $105.88. The company has a quick ratio of 0.42, a current ratio of 0.60 and a debt-to-equity ratio of 1.58.

DTE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, March 18th were given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 3.71%. The ex-dividend date was Friday, March 15th. DTE Energy’s dividend payout ratio (DPR) is 60.36%.

Analyst Upgrades and Downgrades

DTE has been the topic of several recent analyst reports. Guggenheim lowered DTE Energy from a “buy” rating to a “neutral” rating and set a $111.00 price target on the stock. in a research report on Monday, January 22nd. Barclays boosted their target price on DTE Energy from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. JPMorgan Chase & Co. boosted their target price on DTE Energy from $118.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, March 13th. Wolfe Research lowered DTE Energy from an “outperform” rating to a “peer perform” rating in a report on Tuesday, January 16th. Finally, BMO Capital Markets boosted their target price on DTE Energy from $111.00 to $113.00 and gave the stock a “market perform” rating in a report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $115.10.

Insider Activity at DTE Energy

In other news, CAO Tracy J. Myrick sold 600 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $107.04, for a total transaction of $64,224.00. Following the completion of the sale, the chief accounting officer now directly owns 3,462 shares in the company, valued at approximately $370,572.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, COO Matthew T. Paul sold 5,850 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $106.92, for a total transaction of $625,482.00. Following the sale, the chief operating officer now owns 6,951 shares in the company, valued at approximately $743,200.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Tracy J. Myrick sold 600 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $107.04, for a total transaction of $64,224.00. Following the transaction, the chief accounting officer now owns 3,462 shares of the company’s stock, valued at $370,572.48. The disclosure for this sale can be found here. Insiders sold 20,095 shares of company stock worth $2,168,183 in the last ninety days. 0.28% of the stock is owned by company insiders.

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.