KeyCorp Analysts Raise Earnings Estimates for DTE Energy

DTE Energy (NYSE:DTE) – Equities researchers at KeyCorp boosted their Q3 2024 earnings per share estimates for DTE Energy in a research report issued on Monday, October 21st. KeyCorp analyst S. Karp now forecasts that the utilities provider will earn $1.98 per share for the quarter, up from their prior estimate of $1.86. KeyCorp has a “Overweight” rating and a $138.00 price target 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.

A number of other brokerages have also recently commented on DTE. Mizuho upped their price target on DTE Energy from $121.00 to $133.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Jefferies Financial Group began coverage on DTE Energy in a research report on Monday. They issued a “hold” rating and a $137.00 price target for the company. BMO Capital Markets upped 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. Morgan Stanley upped their price target on DTE Energy from $121.00 to $128.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Finally, Barclays upped their price target on DTE Energy from $128.00 to $137.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $130.54.

DTE Energy Stock Down 0.2 %

DTE Energy stock opened at $129.74 on Thursday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.69. The stock has a fifty day moving average of $125.52 and a 200 day moving average of $117.67. The stock has a market cap of $26.85 billion, a PE ratio of 21.24, a price-to-earnings-growth ratio of 2.29 and a beta of 0.67. DTE Energy has a one year low of $92.58 and a one year high of $131.66.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.22. The company had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.65 billion. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. During the same quarter in the prior year, the business earned $0.99 earnings per share.

Hedge Funds Weigh In On DTE Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DTE. Sovereign Financial Group Inc. bought a new position in DTE Energy during the first quarter valued at approximately $377,000. Wealthcare Advisory Partners LLC bought a new position in DTE Energy during the first quarter valued at approximately $225,000. Procyon Advisors LLC bought a new position in DTE Energy during the first quarter valued at approximately $1,032,000. Wealth Enhancement Advisory Services LLC boosted its stake in DTE Energy by 15.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,990 shares of the utilities provider’s stock valued at $1,569,000 after buying an additional 1,911 shares during the last quarter. Finally, Foguth Wealth Management LLC. bought a new position in DTE Energy during the first quarter valued at approximately $255,000. 76.06% of the stock is 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.