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

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

DTE Energy Stock Performance

DTE stock opened at $119.05 on Friday. The business has a 50 day moving average of $121.36 and a 200-day moving average of $121.60. The firm has a market cap of $24.66 billion, a PE ratio of 16.13, 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 quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.76.

DTE Energy Increases Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 3.66%. This is a boost from DTE Energy’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Monday, December 16th. DTE Energy’s payout ratio is presently 55.28%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on DTE shares. 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 report on Friday, October 18th. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. Wells Fargo & Company increased their target price on DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. KeyCorp cut DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Finally, Morgan Stanley dropped their price objective on DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.31.

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.