DTE Energy (NYSE:DTE) Releases 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 -.

DTE Energy Price Performance

DTE Energy stock opened at $119.05 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 1.76. The company has a 50-day moving average price of $121.36 and a 200 day moving average price of $121.52. DTE Energy has a 12-month low of $102.17 and a 12-month high of $131.66. The stock has a market cap of $24.66 billion, a P/E ratio of 16.13, a PEG ratio of 2.23 and a beta of 0.68.

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 issued a $1.09 dividend. This represents a $4.36 annualized dividend and a yield of 3.66%. 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 55.28%.

Analyst Ratings Changes

A number of brokerages recently commented on DTE. Wells Fargo & Company raised their price objective on shares of 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 upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th. Morgan Stanley reduced their price target 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. UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Finally, Barclays lifted 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. Seven 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, DTE Energy has an average rating of “Moderate Buy” and an average price target 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.