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

DTE Energy (NYSE:DTE) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 6.540-6.830 for the period, compared to the consensus earnings per share estimate of 6.690. The company issued revenue guidance of -. DTE Energy also updated its FY24 guidance to $6.54-6.83 EPS.

DTE Energy Price Performance

Shares of NYSE DTE opened at $127.56 on Friday. The company has a market cap of $26.40 billion, a PE ratio of 20.88, a P/E/G ratio of 2.32 and a beta of 0.67. The stock has a fifty day moving average price of $123.75 and a 200 day moving average price of $115.98. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.69 and a quick ratio of 0.52. DTE Energy has a 1-year low of $90.14 and a 1-year high of $129.53.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.22. The business had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.65 billion. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. During the same period in the prior year, the company posted $0.99 EPS. Sell-side analysts forecast that DTE Energy will post 6.7 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. LADENBURG THALM/SH SH started coverage on shares of DTE Energy in a research note on Wednesday, August 14th. They issued a buy rating and a $131.00 target price for the company. KeyCorp lifted their price target on shares of DTE Energy from $130.00 to $136.00 and gave the stock an overweight rating in a report on Monday. Barclays upped their price objective on shares of DTE Energy from $123.00 to $128.00 and gave the company an overweight rating in a research note on Tuesday, July 30th. BMO Capital Markets lifted their target price on shares of DTE Energy from $126.00 to $135.00 and gave the stock a market perform rating in a research note on Friday, September 6th. Finally, Morgan Stanley increased their price target on DTE Energy from $121.00 to $128.00 and gave the stock an overweight rating in a research note on Wednesday, September 25th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price 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.