DTE Energy (NYSE:DTE) Issues Earnings Results

DTE Energy (NYSE:DTE) posted its quarterly earnings data on Thursday. The utilities provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.21 by $0.22, Briefing.com reports. DTE Energy had a net margin of 10.36% and a return on equity of 11.53%. The firm had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same quarter last year, the business posted $0.99 EPS. DTE Energy updated its FY24 guidance to $6.54-6.83 EPS.

DTE Energy Stock Performance

DTE Energy stock remained flat at $118.19 during mid-day trading on Friday. 1,667,423 shares of the company were exchanged, compared to its average volume of 1,102,629. The stock has a 50-day moving average of $113.05 and a two-hundred day moving average of $110.33. The company has a quick ratio of 0.54, a current ratio of 0.75 and a debt-to-equity ratio of 1.72. DTE Energy has a fifty-two week low of $90.14 and a fifty-two week high of $120.54. The firm has a market cap of $24.46 billion, a P/E ratio of 19.34, a P/E/G ratio of 2.15 and a beta of 0.66.

DTE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend is Monday, September 16th. DTE Energy’s dividend payout ratio (DPR) is presently 66.78%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Scotiabank decreased their price target on DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating for the company in a research report on Monday, April 22nd. BMO Capital Markets raised their target price on DTE Energy from $120.00 to $123.00 and gave the company a “market perform” rating in a research report on Monday, July 15th. KeyCorp boosted their price target on shares of DTE Energy from $117.00 to $125.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Wells Fargo & Company increased their price target on shares of DTE Energy from $125.00 to $133.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Morgan Stanley lowered their price objective on shares of DTE Energy from $116.00 to $111.00 and set an “overweight” rating on the stock in a research report on Monday, June 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $118.40.

Insiders Place Their Bets

In other news, Vice Chairman Trevor F. Lauer sold 3,500 shares of DTE Energy stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $115.07, for a total value of $402,745.00. Following the completion of the transaction, the insider now directly owns 59,475 shares in the company, valued at $6,843,788.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $115.07, for a total value of $402,745.00. Following the completion of the transaction, the insider now directly owns 59,475 shares in the company, valued at $6,843,788.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Lisa A. Muschong sold 1,198 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $116.61, for a total transaction of $139,698.78. Following the completion of the transaction, the vice president now directly owns 4,271 shares in the company, valued at approximately $498,041.31. The disclosure for this sale can be found here. Insiders have sold a total of 14,698 shares of company stock worth $1,702,444 over the last 90 days. Corporate insiders own 0.61% of the company’s stock.

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.