DTE Energy to Post Q3 2024 Earnings of $1.73 Per Share, Zacks Research Forecasts (NYSE:DTE)

DTE Energy (NYSE:DTE) – Stock analysts at Zacks Research lowered their Q3 2024 earnings per share estimates for shares of DTE Energy in a research note issued to investors on Wednesday, August 14th. Zacks Research analyst R. Department now forecasts that the utilities provider will post earnings per share of $1.73 for the quarter, down from their prior forecast of $1.87. The consensus estimate for DTE Energy’s current full-year earnings is $6.70 per share. Zacks Research also issued estimates for DTE Energy’s Q2 2025 earnings at $1.55 EPS, Q4 2025 earnings at $2.13 EPS and FY2026 earnings at $7.71 EPS.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.22. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same quarter last year, the company earned $0.99 EPS.

DTE has been the topic of a number of other research reports. Wells Fargo & Company raised their target price on DTE Energy from $125.00 to $133.00 and gave the company an “overweight” rating in a report on Friday, July 26th. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a report on Sunday, August 11th. Scotiabank raised their target price on DTE Energy from $120.00 to $137.00 and gave the company a “sector outperform” rating in a report on Tuesday. KeyCorp raised their target price on DTE Energy from $117.00 to $125.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Finally, LADENBURG THALM/SH SH started coverage on DTE Energy in a report on Wednesday, August 14th. They issued a “buy” rating and a $131.00 target price on the stock. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $121.91.

DTE Energy Trading Down 0.3 %

Shares of DTE stock opened at $122.93 on Monday. The stock’s fifty day moving average price is $115.44 and its two-hundred day moving average price is $112.20. The company has a market cap of $25.44 billion, a PE ratio of 20.12, a P/E/G ratio of 2.27 and a beta of 0.66. DTE Energy has a fifty-two week low of $90.14 and a fifty-two week high of $126.76. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.69.

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Monday, September 16th. DTE Energy’s dividend payout ratio is currently 66.78%.

Insider Buying and Selling

In other DTE Energy news, VP Lisa A. Muschong sold 1,198 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $116.61, for a total transaction of $139,698.78. Following the completion of the sale, the vice president now owns 4,271 shares of the company’s stock, valued at approximately $498,041.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other DTE Energy news, VP Lisa A. Muschong sold 1,198 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $116.61, for a total transaction of $139,698.78. Following the sale, the vice president now owns 4,271 shares of the company’s stock, valued at $498,041.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Trevor F. Lauer sold 3,500 shares of DTE Energy stock in a transaction dated 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 of the company’s stock, valued at $6,843,788.25. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

Hedge Funds Weigh In On DTE Energy

Several institutional investors have recently added to or reduced their stakes in the business. EP Wealth Advisors LLC acquired a new position in shares of DTE Energy during the 2nd quarter valued at $201,000. NewEdge Advisors LLC increased its stake in DTE Energy by 15.2% in the second quarter. NewEdge Advisors LLC now owns 293,962 shares of the utilities provider’s stock valued at $32,632,000 after purchasing an additional 38,849 shares in the last quarter. Creative Planning raised its holdings in shares of DTE Energy by 1.8% during the second quarter. Creative Planning now owns 63,014 shares of the utilities provider’s stock valued at $6,995,000 after purchasing an additional 1,140 shares during the period. Copperwynd Financial LLC boosted its position in shares of DTE Energy by 13.6% during the 2nd quarter. Copperwynd Financial LLC now owns 5,907 shares of the utilities provider’s stock worth $712,000 after purchasing an additional 708 shares in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group increased its position in DTE Energy by 35.9% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 6,016 shares of the utilities provider’s stock valued at $668,000 after buying an additional 1,590 shares in the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

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.