DTE Energy (NYSE:DTE) Releases FY24 Earnings Guidance

DTE Energy (NYSE:DTE) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $6.54-6.83 for the period, compared to the consensus estimate of $6.74.

DTE Energy Price Performance

Shares of DTE Energy stock opened at $121.28 on Monday. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62. The company has a market cap of $25.12 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 2.23 and a beta of 0.68. The firm has a fifty day moving average price of $123.71 and a two-hundred day moving average price of $120.59. DTE Energy has a fifty-two week low of $102.17 and a fifty-two week high of $131.66.

DTE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be paid a $1.09 dividend. The ex-dividend date is Monday, December 16th. This represents a $4.36 dividend on an annualized basis and a yield of 3.59%. This is a boost from DTE Energy’s previous quarterly dividend of $1.02. DTE Energy’s payout ratio is presently 59.08%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. UBS Group upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $129.00 to $143.00 in a research note on Tuesday, December 3rd. KeyCorp lowered DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Scotiabank boosted their price objective on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research note on Thursday. Barclays raised their target price on DTE Energy from $128.00 to $137.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, Wells Fargo & Company upped their target price on shares of DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, DTE Energy has a consensus rating of “Moderate Buy” and an average target price 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.