FY2024 Earnings Estimate for DTE Energy Issued By Scotiabank

DTE Energy (NYSE:DTE) – Analysts at Scotiabank upped their FY2024 earnings per share estimates for shares of DTE Energy in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst A. Weisel now anticipates that the utilities provider will post earnings of $6.76 per share for the year, up from their previous estimate of $6.68. Scotiabank currently has a “Sector Outperform” rating and a $147.00 target price on the stock. The consensus estimate for DTE Energy’s current full-year earnings is $6.76 per share. Scotiabank also issued estimates for DTE Energy’s FY2026 earnings at $7.80 EPS.

A number of other research firms have also recently issued reports on DTE. Barclays raised their target price 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. Morgan Stanley cut their price objective on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Wells Fargo & Company upped their target price on DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th. Finally, Jefferies Financial Group initiated coverage on DTE Energy in a report on Monday, October 21st. They issued a “hold” rating and a $137.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $134.31.

DTE Energy Trading Down 1.6 %

DTE stock opened at $119.05 on Friday. DTE Energy has a one year low of $102.17 and a one year high of $131.66. The stock has a market cap of $24.66 billion, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 2.23 and a beta of 0.68. The company has a fifty day moving average price of $121.36 and a two-hundred day moving average price of $121.52. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62.

Hedge Funds Weigh In On DTE Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC grew its holdings in DTE Energy by 2.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,588 shares of the utilities provider’s stock worth $461,000 after acquiring an additional 81 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of DTE Energy by 3.1% during the third quarter. Signaturefd LLC now owns 2,889 shares of the utilities provider’s stock worth $371,000 after purchasing an additional 86 shares during the period. Tidal Investments LLC grew its stake in shares of DTE Energy by 4.0% in the third quarter. Tidal Investments LLC now owns 2,490 shares of the utilities provider’s stock worth $320,000 after purchasing an additional 96 shares during the last quarter. ASB Consultores LLC increased its holdings in DTE Energy by 4.9% in the second quarter. ASB Consultores LLC now owns 2,179 shares of the utilities provider’s stock valued at $242,000 after purchasing an additional 101 shares during the period. Finally, Centennial Wealth Advisory LLC raised its position in DTE Energy by 2.1% during the 3rd quarter. Centennial Wealth Advisory LLC now owns 5,338 shares of the utilities provider’s stock worth $685,000 after purchasing an additional 110 shares during the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be given a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a 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 dividend payout ratio is currently 59.08%.

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.