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

DTE Energy (NYSE:DTE) issued an update on its FY 2024 earnings guidance on Friday morning. 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 -.

DTE Energy Stock Performance

Shares of DTE stock opened at $121.06 on Friday. The company has a market cap of $25.07 billion, a P/E ratio of 16.40, a PEG ratio of 2.23 and a beta of 0.68. The firm has a fifty day moving average price of $121.41 and a 200 day moving average price of $121.48. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 1.76. DTE Energy has a 12 month low of $102.17 and a 12 month high of $131.66.

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 issued a $1.09 dividend. This is a boost from DTE Energy’s previous quarterly dividend of $1.02. The ex-dividend date is Monday, December 16th. This represents a $4.36 annualized dividend and a dividend yield of 3.60%. DTE Energy’s dividend payout ratio is presently 59.08%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on DTE shares. Scotiabank boosted their price objective on DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research note on Thursday, December 12th. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th. Barclays raised their price objective on shares of DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. BMO Capital Markets upped their target price on shares of DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Finally, Wells Fargo & Company boosted their price target on DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, DTE Energy has a consensus rating of “Moderate Buy” and a consensus target price of $134.31.

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.