KeyCorp Has Positive Estimate for DTE Energy Q3 Earnings

DTE Energy (NYSE:DTE) – Equities research analysts at KeyCorp increased their Q3 2024 EPS estimates for shares of DTE Energy in a report issued on Monday, October 21st. KeyCorp analyst S. Karp now forecasts that the utilities provider will post earnings of $1.98 per share for the quarter, up from their prior forecast of $1.86. KeyCorp has a “Overweight” rating and a $138.00 price objective on the stock. The consensus estimate for DTE Energy’s current full-year earnings is $6.70 per share. KeyCorp also issued estimates for DTE Energy’s Q4 2024 earnings at $1.76 EPS and FY2028 earnings at $9.17 EPS.

DTE Energy (NYSE:DTE) last released its quarterly earnings results 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 net margin of 11.18% and a return on equity of 12.18%. The business had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter in the previous year, the company earned $0.99 EPS.

A number of other research firms have also recently commented on DTE. Barclays boosted their price target on shares of DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, August 11th. Bank of America upped their price objective on shares of DTE Energy from $131.00 to $136.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. LADENBURG THALM/SH SH initiated coverage on shares of DTE Energy in a research note on Wednesday, August 14th. They issued a “buy” rating and a $131.00 price objective for the company. Finally, BMO Capital Markets upped their price objective 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. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $130.54.

DTE Energy Price Performance

DTE stock opened at $129.99 on Thursday. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.69 and a quick ratio of 0.52. DTE Energy has a one year low of $92.58 and a one year high of $130.04. The stock has a market cap of $26.90 billion, a PE ratio of 21.27, a P/E/G ratio of 2.29 and a beta of 0.67. The firm has a 50 day simple moving average of $125.52 and a two-hundred day simple moving average of $117.67.

Institutional Investors Weigh In On DTE Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Research Global Investors raised its holdings in DTE Energy by 1.2% during the 1st quarter. Capital Research Global Investors now owns 21,194,653 shares of the utilities provider’s stock valued at $2,376,768,000 after buying an additional 261,623 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in DTE Energy by 1.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,557,309 shares of the utilities provider’s stock worth $616,938,000 after purchasing an additional 86,205 shares in the last quarter. Clearbridge Investments LLC raised its holdings in DTE Energy by 224.7% in the 1st quarter. Clearbridge Investments LLC now owns 2,538,106 shares of the utilities provider’s stock worth $284,623,000 after purchasing an additional 1,756,459 shares in the last quarter. Janus Henderson Group PLC raised its holdings in DTE Energy by 6,964.9% in the 1st quarter. Janus Henderson Group PLC now owns 2,090,350 shares of the utilities provider’s stock worth $234,410,000 after purchasing an additional 2,060,762 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in DTE Energy by 3.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,667,111 shares of the utilities provider’s stock worth $185,066,000 after purchasing an additional 59,811 shares in the last quarter. 76.06% of the stock is currently owned by institutional investors.

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.