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

DTE Energy (NYSE:DTE) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 6.540-6.830 for the period, compared to the consensus earnings per share estimate of 6.740. The company issued revenue guidance of -.

Analysts Set New Price Targets

DTE has been the topic of a number of recent research reports. Morgan Stanley cut their price objective on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Scotiabank upped their price target on shares of DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. Jefferies Financial Group initiated coverage on DTE Energy in a research note on Monday, October 21st. They issued a “hold” rating and a $137.00 price target for the company. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company raised their price objective on DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $134.31.

DTE Energy Stock Up 0.6 %

Shares of NYSE DTE opened at $121.06 on Friday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.62 and a current ratio of 0.83. The stock’s 50-day simple moving average is $121.41 and its 200-day simple moving average is $121.48. DTE Energy has a 1 year low of $102.17 and a 1 year high of $131.66. The firm has a market cap of $25.07 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 2.23 and a beta of 0.68.

DTE Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be given a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend is Monday, December 16th. This is a positive change from DTE Energy’s previous quarterly dividend of $1.02. DTE Energy’s dividend payout ratio is currently 59.08%.

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.