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

DTE Energy (NYSE:DTE) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 6.540-6.830 for the period, compared to the consensus earnings per share estimate of 6.740. The company issued revenue guidance of -.

DTE Energy Trading Up 0.6 %

NYSE DTE opened at $121.06 on Friday. The company has a market cap of $25.07 billion, a P/E ratio of 16.40, 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 company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62. The company has a 50-day moving average of $121.41 and a 200-day moving average of $121.48.

DTE Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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 represents a $4.36 dividend on an annualized basis and a yield of 3.60%. This is an increase from DTE Energy’s previous quarterly dividend of $1.02. DTE Energy’s dividend payout ratio (DPR) is currently 59.08%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on DTE shares. BMO Capital Markets raised their target price on shares of DTE Energy from $135.00 to $140.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Barclays increased 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. Jefferies Financial Group began coverage on shares of DTE Energy in a research report on Monday, October 21st. They set a “hold” rating and a $137.00 target price on the stock. UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and raised their price target for the company from $129.00 to $143.00 in a report on Tuesday, December 3rd. Finally, StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently 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.