DTE Energy (NYSE:DTE – Get Free Report) 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
Read Our Latest Research Report on DTE
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.
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