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

DTE Energy (NYSE:DTE) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 6.540-6.830 for the period, compared to the consensus estimate of 6.690. The company issued revenue guidance of -. DTE Energy also updated its FY24 guidance to $6.54-6.83 EPS.

DTE Energy Price Performance

Shares of DTE Energy stock opened at $126.98 on Friday. The stock’s 50-day simple moving average is $123.92 and its 200-day simple moving average is $116.10. DTE Energy has a 52 week low of $90.14 and a 52 week high of $129.53. The company has a market capitalization of $26.28 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 2.32 and a beta of 0.67. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 1.73.

DTE Energy (NYSE:DTE) last issued its earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.22. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. The company had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter last year, the company earned $0.99 EPS. As a group, analysts expect that DTE Energy will post 6.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

DTE has been the topic of a number of research reports. Morgan Stanley lifted their price target on shares of DTE Energy from $121.00 to $128.00 and gave the company an overweight rating in a report on Wednesday, September 25th. BMO Capital Markets boosted their target price on DTE Energy from $126.00 to $135.00 and gave the stock a market perform rating in a research report on Friday, September 6th. Bank of America raised their price target on DTE Energy from $131.00 to $136.00 and gave the company a buy rating in a report on Thursday, August 29th. Barclays increased their target price on DTE Energy from $123.00 to $128.00 and gave the company an overweight rating in a research report on Tuesday, July 30th. Finally, StockNews.com raised shares of DTE Energy from a sell rating to a hold rating in a research note on Sunday, August 11th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $128.67.

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.