DTE Energy (NYSE:DTE) Issues FY24 Earnings Guidance

by · The Cerbat Gem

DTE Energy (NYSE:DTE – Get Free Report) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $6.54-6.83 for the period, compared to the consensus estimate of $6.69. DTE Energy also updated its FY 2024 guidance to 6.540-6.830 EPS.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on DTE shares. Wells Fargo & Company increased their target price on shares of DTE Energy from $125.00 to $133.00 and gave the company an overweight rating in a report on Friday, July 26th. StockNews.com raised DTE Energy from a sell rating to a hold rating in a research note on Sunday, August 11th. Scotiabank boosted their target price on DTE Energy from $120.00 to $137.00 and gave the stock a sector outperform rating in a research report on Tuesday, August 20th. KeyCorp upped their target price on DTE Energy from $130.00 to $136.00 and gave the company an overweight rating in a report on Monday, September 30th. Finally, LADENBURG THALM/SH SH started coverage on DTE Energy in a research note on Wednesday, August 14th. They set a buy rating and a $131.00 price target for the company. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $128.67.

Get Our Latest Report on DTE Energy

DTE Energy Price Performance

NYSE:DTE opened at $126.98 on Friday. DTE Energy has a 12-month low of $90.14 and a 12-month high of $129.53. The firm has a market cap of $26.28 billion, a price-to-earnings ratio of 20.78, a price-to-earnings-growth ratio of 2.32 and a beta of 0.67. The company’s 50-day moving average is $123.92 and its two-hundred day moving average is $116.10. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73.

DTE Energy (NYSE:DTE – Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.22. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. The business had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same quarter in the previous year, the business posted $0.99 earnings per share. Research analysts expect that DTE Energy will post 6.7 EPS for the current year.

About DTE Energy

(Get Free Report)

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.

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