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

DTE Energy (NYSE:DTE) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 6.540-6.830 for the period, compared to the consensus estimate of 6.690. The company issued revenue guidance of -.

DTE Energy Price Performance

Shares of DTE Energy stock opened at $128.70 on Wednesday. The company has a 50-day simple moving average of $123.34 and a two-hundred day simple moving average of $115.80. DTE Energy has a twelve month low of $90.14 and a twelve month high of $129.53. The stock 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. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 1.73.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.43 earnings per share (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 firm had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the prior year, the company posted $0.99 earnings per share. Analysts forecast that DTE Energy will post 6.7 EPS for the current year.

Analyst Ratings Changes

DTE has been the topic of several recent research reports. Bank of America lifted 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. BMO Capital Markets raised their target price on DTE Energy from $126.00 to $135.00 and gave the stock a market perform rating in a research report on Friday, September 6th. Barclays boosted their target price on shares of DTE Energy from $123.00 to $128.00 and gave the company an overweight rating in a research report on Tuesday, July 30th. Mizuho raised their price target on shares of DTE Energy from $121.00 to $133.00 and gave the stock an outperform rating in a report on Tuesday, September 10th. Finally, Scotiabank upped their price objective 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. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $128.67.

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.