DTE Energy (NYSE:DTE) Releases FY24 Earnings Guidance

DTE Energy (NYSE:DTE - Get Free Report) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $6.54-6.83 for the period, compared to the consensus EPS estimate of $6.74.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on DTE shares. Jefferies Financial Group started coverage on DTE Energy in a research report on Monday, October 21st. They set a "hold" rating and a $137.00 price target on the stock. Morgan Stanley reduced their target price on DTE Energy from $131.00 to $128.00 and set an "overweight" rating for the company in a research report on Friday, November 22nd. Mizuho boosted their price target on shares of DTE Energy from $121.00 to $133.00 and gave the company an "outperform" rating in a report on Tuesday, September 10th. BMO Capital Markets raised their price objective on shares of DTE Energy from $135.00 to $140.00 and gave the stock a "market perform" rating in a report on Friday, October 18th. Finally, StockNews.com upgraded shares of DTE Energy from a "sell" rating to a "hold" rating in a research report on Tuesday, November 5th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, DTE Energy presently has an average rating of "Moderate Buy" and a consensus target price of $134.31.

DTE Energy Trading Up 1.0 %

Shares of NYSE:DTE traded up $1.14 during mid-day trading on Monday, hitting $121.35. The company had a trading volume of 2,428,808 shares, compared to its average volume of 1,133,864. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62. DTE Energy has a one year low of $102.17 and a one year high of $131.66. The firm has a fifty day moving average price of $123.71 and a 200 day moving average price of $120.59. The company has a market capitalization of $25.13 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 2.23 and a beta of 0.68.

DTE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be issued a dividend of $1.09 per share. This is an increase from DTE Energy's previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Monday, December 16th. This represents a $4.36 annualized dividend and a dividend yield of 3.59%. DTE Energy's payout ratio is currently 59.08%.

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.