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 (EPS) guidance of 6.540-6.830 for the period, compared to the consensus estimate of 6.740. The company issued revenue guidance of -.

DTE Energy Price Performance

DTE Energy stock opened at $121.06 on Friday. 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 1 year low of $102.17 and a 1 year high of $131.66. The business has a 50-day moving average of $121.41 and a 200-day moving average of $121.48. The firm has a market capitalization of $25.07 billion, a P/E ratio of 16.40, a PEG ratio of 2.23 and a beta of 0.68.

DTE Energy Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Monday, December 16th. This is a positive change from DTE Energy’s previous quarterly dividend of $1.02. This represents a $4.36 annualized dividend and a dividend yield of 3.60%. DTE Energy’s payout ratio is currently 59.08%.

Wall Street Analyst Weigh In

DTE has been the topic of a number of analyst reports. BMO Capital Markets increased their price target on DTE Energy from $135.00 to $140.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Scotiabank lifted their price objective on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. KeyCorp cut shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Barclays increased their price target 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. Finally, UBS Group upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, DTE Energy presently has an average rating of “Moderate Buy” and an average 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.