DTE Energy (NYSE:DTE) Updates FY24 Earnings Guidance

DTE Energy (NYSE:DTE) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $6.54-6.83 for the period, compared to the consensus earnings per share estimate of $6.69. DTE Energy also updated its FY 2024 guidance to 6.540-6.830 EPS.

Analysts Set New Price Targets

DTE has been the subject of several analyst reports. StockNews.com raised DTE Energy from a sell rating to a hold rating in a research report on Sunday, August 11th. Morgan Stanley increased their price objective on shares of DTE Energy from $121.00 to $128.00 and gave the company an overweight rating in a research report on Wednesday, September 25th. Bank of America boosted their target price on shares of DTE Energy from $131.00 to $136.00 and gave the stock a buy rating in a research report on Thursday, August 29th. Scotiabank raised their price target on shares of DTE Energy from $120.00 to $137.00 and gave the company a sector outperform rating in a report on Tuesday, August 20th. Finally, KeyCorp lifted their price target on shares of DTE Energy from $130.00 to $136.00 and gave the stock an overweight rating in a research note on Monday. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $128.67.

DTE Energy Stock Up 0.2 %

NYSE:DTE opened at $128.70 on Wednesday. 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 50-day simple moving average of $123.34 and a 200 day simple moving average of $115.80. DTE Energy has a one year low of $90.14 and a one year high of $129.53. The company has a market capitalization of $26.63 billion, a price-to-earnings ratio of 21.06, a price-to-earnings-growth ratio of 2.32 and a beta of 0.67.

DTE Energy (NYSE:DTE) last posted its quarterly 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. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.65 billion. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. During the same period in the prior year, the company posted $0.99 EPS. Sell-side analysts predict that DTE Energy will post 6.7 EPS for the current fiscal year.

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.