Scotiabank Estimates DTE Energy's FY2024 Earnings (NYSE:DTE)

DTE Energy (NYSE:DTE - Free Report) - Analysts at Scotiabank raised their FY2024 earnings per share estimates for DTE Energy in a report released on Wednesday, January 8th. Scotiabank analyst A. Weisel now expects that the utilities provider will post earnings per share of $6.76 for the year, up from their previous estimate of $6.68. Scotiabank has a "Sector Outperform" rating and a $147.00 price objective on the stock. The consensus estimate for DTE Energy's current full-year earnings is $6.76 per share. Scotiabank also issued estimates for DTE Energy's FY2026 earnings at $7.80 EPS.

Several other research analysts also recently weighed in on DTE. UBS Group upgraded shares of DTE Energy from a "neutral" rating to a "buy" rating and increased their price target for the stock from $129.00 to $143.00 in a research report on Tuesday, December 3rd. StockNews.com raised DTE Energy from a "sell" rating to a "hold" rating in a report on Tuesday, November 5th. Barclays boosted their price target on DTE Energy from $128.00 to $137.00 and gave the company an "overweight" rating in a report on Monday, October 7th. Wells Fargo & Company raised their price objective on DTE Energy from $133.00 to $145.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. Finally, Morgan Stanley cut their price objective on DTE Energy from $131.00 to $128.00 and set an "overweight" rating for the company in a research note on Friday, November 22nd. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, DTE Energy has a consensus rating of "Moderate Buy" and a consensus target price of $134.31.

DTE Energy Stock Performance

Shares of NYSE:DTE traded down $1.96 during trading on Friday, hitting $119.05. The company's stock had a trading volume of 1,082,776 shares, compared to its average volume of 872,446. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.83 and a quick ratio of 0.62. The firm has a market cap of $24.66 billion, a price-to-earnings ratio of 16.13, a P/E/G ratio of 2.23 and a beta of 0.68. The company has a 50-day moving average of $121.36 and a 200-day moving average of $121.52. DTE Energy has a 12 month low of $102.17 and a 12 month high of $131.66.

Hedge Funds Weigh In On DTE Energy

Several institutional investors have recently added to or reduced their stakes in the company. State Street Corp boosted its position in shares of DTE Energy by 7.0% during the 3rd quarter. State Street Corp now owns 10,193,572 shares of the utilities provider's stock valued at $1,319,264,000 after acquiring an additional 662,569 shares during the last quarter. Mizuho Securities USA LLC raised its stake in DTE Energy by 44,009.5% during the third quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider's stock valued at $903,878,000 after purchasing an additional 7,023,042 shares in the last quarter. Ameriprise Financial Inc. lifted its position in DTE Energy by 1.6% during the second quarter. Ameriprise Financial Inc. now owns 5,557,309 shares of the utilities provider's stock valued at $616,938,000 after purchasing an additional 86,205 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of DTE Energy by 2.4% in the 3rd quarter. Janus Henderson Group PLC now owns 2,720,265 shares of the utilities provider's stock worth $349,309,000 after buying an additional 64,880 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of DTE Energy by 3.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,667,111 shares of the utilities provider's stock worth $185,066,000 after buying an additional 59,811 shares during the last quarter. Hedge funds and other institutional investors own 76.06% of the company's stock.

DTE Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be paid a $1.09 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $4.36 annualized dividend and a yield of 3.66%. This is a boost from DTE Energy's previous quarterly dividend of $1.02. DTE Energy's payout ratio is presently 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.