DTE Energy (NYSE:DTE) Releases FY24 Earnings Guidance

DTE Energy (NYSE:DTE) updated its FY24 earnings guidance on Monday. The company provided EPS guidance of $6.54-6.83 for the period, compared to the consensus EPS estimate of $6.74.

DTE Energy Stock Down 0.5 %

Shares of NYSE DTE opened at $120.71 on Wednesday. The stock has a market capitalization of $25.00 billion, a price-to-earnings ratio of 16.36, a P/E/G ratio of 2.23 and a beta of 0.68. DTE Energy has a 12-month low of $102.17 and a 12-month high of $131.66. The firm’s 50-day moving average price is $123.54 and its 200-day moving average price is $120.68. 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be given a $1.09 dividend. The ex-dividend date is Monday, December 16th. 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 yield of 3.61%. DTE Energy’s dividend payout ratio (DPR) is currently 59.08%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. KeyCorp lowered DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Bank of America boosted their target price on shares of DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Jefferies Financial Group began coverage on DTE Energy in a report on Monday, October 21st. They set a “hold” rating and a $137.00 price objective for the company. UBS Group upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Finally, Mizuho lifted their price target on DTE Energy from $121.00 to $133.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, DTE Energy has an average rating of “Moderate Buy” and an average 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.