DTE Energy (NYSE:DTE) Releases FY24 Earnings Guidance

DTE Energy (NYSE:DTE) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share guidance of $6.54-6.83 for the period, compared to the consensus earnings per share estimate of $6.74.

DTE Energy Stock Performance

DTE stock opened at $121.35 on Tuesday. The company has a market cap of $25.13 billion, a P/E ratio of 16.44, a price-to-earnings-growth ratio of 2.23 and a beta of 0.68. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62. DTE Energy has a 1 year low of $102.17 and a 1 year high of $131.66. The stock’s fifty day moving average price is $123.63 and its 200-day moving average price is $120.65.

DTE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be paid a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a dividend yield of 3.59%. The ex-dividend date is Monday, December 16th. This is a boost from DTE Energy’s previous quarterly dividend of $1.02. DTE Energy’s dividend payout ratio (DPR) is currently 59.08%.

Analyst Ratings Changes

DTE has been the subject of a number of recent research reports. Morgan Stanley cut their price objective on DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Mizuho increased their price objective on shares of DTE Energy from $121.00 to $133.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Barclays raised their price objective on shares of DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, DTE Energy has a consensus rating of “Moderate Buy” and a consensus target price of $134.31.

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.