DTE Energy (DTE) to Release Earnings on Thursday

DTE Energy (NYSE:DTE) is scheduled to be posting its quarterly earnings results before the market opens on Thursday, July 25th. Analysts expect DTE Energy to post earnings of $1.17 per share for the quarter. DTE Energy has set its FY24 guidance at $6.54 to $6.83 EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.04). DTE Energy had a net margin of 10.36% and a return on equity of 11.53%. The firm had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.81 billion. On average, analysts expect DTE Energy to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.

DTE Energy Stock Down 1.1 %

Shares of NYSE:DTE opened at $115.90 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.75 and a debt-to-equity ratio of 1.72. DTE Energy has a 52-week low of $90.14 and a 52-week high of $118.58. The company has a 50 day moving average of $112.96 and a two-hundred day moving average of $110.18. The company has a market capitalization of $23.98 billion, a price-to-earnings ratio of 18.97, a price-to-earnings-growth ratio of 2.11 and a beta of 0.66.

DTE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date is Monday, September 16th. DTE Energy’s payout ratio is currently 66.78%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on DTE shares. KeyCorp raised their price target on shares of DTE Energy from $117.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. Barclays raised their price target on shares of DTE Energy from $115.00 to $119.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. BMO Capital Markets raised their price target on shares of DTE Energy from $120.00 to $123.00 and gave the stock a “market perform” rating in a research report on Monday, July 15th. Morgan Stanley decreased their price target on shares of DTE Energy from $116.00 to $111.00 and set an “overweight” rating for the company in a research report on Monday, June 24th. Finally, Scotiabank decreased their price target on shares of DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating for the company in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $116.78.

Insider Buying and Selling at DTE Energy

In other DTE Energy news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $115.07, for a total value of $402,745.00. Following the sale, the insider now directly owns 59,475 shares in the company, valued at $6,843,788.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other DTE Energy news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $115.07, for a total value of $402,745.00. Following the sale, the insider now directly owns 59,475 shares in the company, valued at $6,843,788.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Lisa A. Muschong sold 1,198 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $116.61, for a total value of $139,698.78. Following the transaction, the vice president now directly owns 4,271 shares in the company, valued at $498,041.31. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,698 shares of company stock worth $1,702,444. 0.61% of the stock is owned by insiders.

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.